China’s Superbank

China’s Superbank

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Sanderson, Henry | Forsythe, Michael John Wiley & Sons Singapore Pte. Ltd., 2013 Audio summary available
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IN THIS SUMMARY

In China’s Superbank, Henry Sanderson and Michael Forsythe explain that in order to understand China and its influence on the world, one need only examine China Development Bank (CDB). CDB has become the financial enabler of China’s global expansion and domestic boom. The success of China’s companies is intricately tied to CDB, a bank run by Chen Yuan, the son of Chen Yun, one of the “eight immortals” of the Communist Party. Chen believes in urbanization, and the bank strives to combine the functions of the market with strategic government priorities. The reason that CDB is an important and different player on the banking stage lies in its ability to lend long-term and in large amounts, not, as commonly believed, in that it provides “cheap loans.” Development banks in other countries do not have the same funding scale as CDB.