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Inside China's Shadow Banking: The Next Subprime Crisis? (English Edition) [Format Kindle]

Joe Zhang

Prix éditeur - format imprimé : EUR 15,46
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Descriptions du produit

Présentation de l'éditeur

Is shadow banking in China likely to become the source of the next global financial crisis or simply a little understood area of the enormous Mainland economy? Joe Zhang pulls back the curtain on this sector and explains how shadow banking in China impacts the regional and world economies. He also pinpoints the areas of concern based on his experience in the field and his knowledge of the complicated regulations of banking in China gathered during his years as a staffer at the central People's Bank of China in Beijing. Drawing on his 11 years spent at UBS, as well as the work of prominent economists, Joe Zhang explains shadow banking in China for investors, economists, laypeople, and the general public. In 2001, Joe Zhang resigned as Deputy Head of China Investment Banking at UBS to become the chairman of a microcredit company in Guangzhou. This book is both his personal story and a frank assessment of the shadow banking industry in modern China.

Détails sur le produit

  • Format : Format Kindle
  • Taille du fichier : 468 KB
  • Nombre de pages de l'édition imprimée : 178 pages
  • Editeur : Enrich Professional Publishing (21 mai 2013)
  • Vendu par : Amazon Media EU S.à r.l.
  • Langue : Anglais
  • Synthèse vocale : Activée
  • X-Ray :
  • Word Wise: Non activé
  • Composition améliorée: Activé
  • Classement des meilleures ventes d'Amazon: n°211.566 dans la Boutique Kindle (Voir le Top 100 dans la Boutique Kindle)

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Amazon.com: 3.6 étoiles sur 5  24 commentaires
17 internautes sur 18 ont trouvé ce commentaire utile 
3.0 étoiles sur 5 It could have been a lot better 29 juillet 2013
Par Max of Claremont - Publié sur Amazon.com
Format:Broché|Achat vérifié
The author is obviously a very intelligent and perceptive professional. I also admire his high ethical and professional standards. But the book could have been a lot better. The first half is the most interesting -- it gives a unique and honest view of how business is done in China's financial sector (or rather, how good business is prevented from getting done there). The author's personal experience is most revealing and educational. But the second half of the book is rather average -- it is essentially a collection of short pieces that are the author's observations of the Chinese financial sector and its main problems. While his analysis is fine, it does not really tell those familiar with the Chinese financial system anything new. I wish the author had stuck to his personal stories and observations, which knowledgeable observers outside China would have found far more interesting.
7 internautes sur 7 ont trouvé ce commentaire utile 
3.0 étoiles sur 5 A personal view of China micro-credit 13 octobre 2013
Par Richard A. Ellis - Publié sur Amazon.com
Format:Broché|Achat vérifié
This is a quirky little book whose title may mislead some readers. It is not a macro overview of China subprime credit, nor is it, as the sub-title implies, a warning of a coming crisis in China shadow banking. A better title would have been "My Experiences in China Micro-credit," as it is a personal account of Joe Zhang's experiences in the field. What is micro-credit? In China, anyway, it involves loans to small and medium-sized enterprises (SME) that would not qualify to borrow at prime (about 6% currently) from main-line Chinese banks. Sub-prime is as the name suggests, loans made to such entities at rates much higher than prime. How much higher? The company Joe joins, Wansui Micro Credit, loans at the industry norm, which is up to 4 times prime, or 24% per year! (sometimes they loan at rates as low as 15% if the market is slack, apparently.) Joe spills a lot of ink trying to justify why he should not be called a loan shark. But before we make snap judgments here, we should consider our own check-cashing and payday loan outfits.
We are offered lots of details about Joe's lunches and meeting with various personalities, some of whom are irrelevant to the story. Some readers may see the first half of the book as overly egotistic, as it mainly serves to establish Joe's bona fides. The real 600-pound gorilla in the room, in my opinion, "Wealth Management Products" (WMP), do not even make an appearance until we are half way through the book. These are products offered to depositors that pay much more than the 2-3% the banks offer, and are mainly highly speculative and emblematic of a credit boom and a potential problem if China ever really goes through a credit crunch or recession.
Joe, not surprisingly sees no danger in sub-prime or micro-credit, and in fact the book ends with special pleading for looser regulations by China's financial overseers. I am not at all convinced that he makes out a good case that we don't need to worry. The sheer exponential growth in China's shadow banking, coupled with uncertainty regarding government guarantees for these loans, almost ensures there will be a blowout that will affect global markets.
The ending of the book is bizarre, almost cut off in mid-sentence.
On the plus side, however, I did learn something about credit and banking in the Wild, Wild East. Joe seems like an honest and forthcoming chap, with a propensity to tell it as he sees it, albeit as a cheerleader for micro-credit. Hence, three stars.
7 internautes sur 7 ont trouvé ce commentaire utile 
3.0 étoiles sur 5 Not the book as the title says 30 août 2013
Par Tae Ou Lee - Publié sur Amazon.com
Format:Format Kindle|Achat vérifié
This is just a mix of blog level journals of an veteran investment banker. The author is said to have finished this book in 10 days, which is totally understandable to me.
Most of the pages are assigned to the authors's experience and philosophy as a CEO at a Chinese microcredit company named Wansui, which I guess is not an attractive topic for readers who are not in the microcredit field. But it was interesting for me to see the vivid inside descriptions of Chinese financial industry even though i didn't buy this book for them.
The expected analysis on Shadow Banking and Debt problems shows up in the middle, and is very short. He says shadow banking problem of China is just a symptom, not a disease itself. So if you want a quick answer, the author's answer is "Chinese banks and government can handle them". However, the author is more concerned about the overinflated Chinese economy itself, which he sees very pessimistic about the future.
Interesting read, but not sure worth the price.
9 internautes sur 10 ont trouvé ce commentaire utile 
2.0 étoiles sur 5 Better than nothing 31 juillet 2013
Par David MacDougall - Publié sur Amazon.com
Format:Broché|Achat vérifié
There isn't much out there on Chinese microfinance so its a useful book if you are interested. The book is otherwise an exercise in self promotion. He goes on and on about his wealth and successes while ultimately achieving very little in microfinance. This is a very short book and short on hard data.
2 internautes sur 2 ont trouvé ce commentaire utile 
4.0 étoiles sur 5 This book is the best primer for novices to understand Chinese shadow banking. 14 avril 2014
Par Jong Guk Park - Publié sur Amazon.com
Format:Format Kindle|Achat vérifié
Personal experiences coupled with insights into Chinese shadow banking help the readers to gain a basic grasp of important sectors in Chinese finance.
This book has been quite conducive to laymen to understand the modes operandi of Chinese shadow banking including the root causes of birth and issues of this significant financial sector. Good book!!
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