Overview

This book is a scathing indictment of regulatory inertia in the West. It provides important and original insights into the causes of financial crises and pays special attention to China's attempts at reform and Hong Kong's place in China's financial modernization.

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9789888083251

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Reviews

A compelling account of why the global financial crisis owes much to a flawed regulatory culture in Washington and London, and why the banking system in Mainland China has been weakened by the well-intentioned fiscal stimulus package introduced in response to the crisis. Goodstadt argues that the authorities in both the US and Mainland China could learn from the experiences of Hong Kong, which show that a strong regulatory framework does not have to hinder economic growth. -- Hans Genberg, former Executive Director of Research, Hong Kong Monetary Authority

Author Information

Leo F. Goodstadt was chief policy adviser to the Hong Kong Government as head of its Central Policy Unit (1989-97) and has had an extensive consultancy practice in Asian banking. He has written widely on the global financial crisis and on China's economic development.

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