Book description
Inside the engine-room of China's economic growth-the China
Development Bank
Anyone wanting a primer on the secret of China's economic success
need look no further than China Development Bank (CDB)-which has
displaced the World Bank as the world's biggest development bank,
lending billions to countries around the globe to further Chinese
policy goals. In China's Superbank, Bloomberg authors Michael
Forsythe and Henry Sanderson outline how the bank is at the center of
China's domestic economic growth and how it is helping to expand
China's influence in strategically important overseas markets.
100 percent owned by the Chinese government, the CDB holds the key to
understanding the inner workings of China's state-led economic
development model, and its most glaring flaws. The bank is at the
center of the country's efforts to build a world-class network of
highways, railroads, and power grids, pioneering a lending scheme to
local governments that threatens to spawn trillions of yuan in bad
loans. It is doling out credit lines by the billions to Chinese solar
and wind power makers, threatening to bury global competitors with a
flood of cheap products. Another billion in credit has been given to
the country's two biggest telecom equipment makers who are using the
money to win contracts around the globe, helping fulfill the goal of
China's leaders for its leading companies to "go global."
Bringing the story of China Development Bank to life by crisscrossing
China to investigate the quality of its loans, China's Superbank
travels the globe, from Africa, where its China-Africa fund is
displacing Western lenders in a battle for influence, to the oil
fields of Venezuela.
- Offers a fascinating insight into the China Development Bank
(CDB), the driver of China's rapid economic development
- Travels the globe to show how the CDB is helping Chinese
businesses "go global"
- Written by two respected reporters at Bloomberg News
As China's influence continues to grow around the world, many people
are asking how far it will extend. China's Superbank addresses
these vital questions, looking at the institution at the heart of this growth.
HENRY SANDERSON has been a reporter for Bloomberg News since
April 2010. Prior to that, he was a reporter for the Associated Press
in Beijing and Dow Jones in New York. While at Bloomberg, Sanderson
has covered corporate finance, focusing on China's banks, the bond
market, and the emergence of the yuan as an international currency. He
is a graduate of the University of Leeds (with a BA in Chinese and
English literature) and Columbia University (with a Master's in East
Asian Studies).
MICHAEL FORSYTHE has been a reporter and editor for Bloomberg
News since 2000. Prior to that, he was an officer in the U. S. Navy
for seven years, serving on ships in the U. S. 7th Fleet. The
highlight of his career in Washington was overseeing Bloomberg's
coverage of the historic 2008 presidential election. Since returning
to Beijing in 2009, Forsythe has focused on policy and politics, with
particular emphasis on the international impact of "China
Inc." He is a graduate of Georgetown University (with a BA in
International Economics) and Harvard University (with a Master's in
East Asian Regional Studies).
