Carl Walter and Fraser Howie discuss how the Chinese government reformed and modeled its financial system in the last 30 years, and how Chinese banks have become objects of political struggle while they totter under balance sheets bloated by the excessive state-directed lending and bond issuance that has occurred since 2009. Impending collapse is not likely, but opening up of the financial sector is not on the agenda in the near future.

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To access the getAbstract summary for Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise, click on the “Read” button and navigate to the listing for Fraser Howie, author and featured speaker at the 66^th CFA Institute Annual Conference.

Continuing Education Information: The recommendation of 8 CE hours applies to reading the whole book, which can be purchased online.