Abstract
The Chinese banks have always been enthusiastic participants in investment booms. They are the most important source of external financing for the construction of infrastructure, industrial capacity expansion, and speculation in real estate and financial assets. Without their active involvement China’s boom—bust cycle would be considerably less extreme.
Money is a creature of the state.
—Abba Lerner
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Notes
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© 2012 Mark A. DeWeaver
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De Weaver, M.A. (2012). Banking and Finance Run Amok. In: Animal Spirits with Chinese Characteristics. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137110121_6
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DOI: https://doi.org/10.1057/9781137110121_6
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