Read online book Bloomberg: China's Superbank : Debt, Oil and Influence - How China Development Bank Is Rewriting the Rules of Finance TXT, EPUB
9781118176368 1118176367 Anyone wanting a primer on the secret of China's economic success needs look no further than China Development Bank (CDB). The bank, 100 percent owned by the Chinese government, 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 $45 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.'' CDB has displaced the World Bank as the world's biggest development bank, lending billions to countries in Africa, Asia and Latin America to further Chinese policy goals. Despite one of the world's biggest default risks, it has lent more than $28 billion to Venezuela to secure oil supplies, another $25 billion to Russia, and $10 billion to Brazil's state-run oil company. Now the lender is at the forefront of another Chinese financial innovation -- state-led ''private'' equity investments. Chen Yuan, its 66-year old chairman, who has run the bank since 1998, himself typifies the rise of a Chinese Communist aristocracy which is beginning to pass political power from generation to generation. He's the son of Chen Yun, one of the founders of the People's Republic. Chen Yuan has made sure that his children get the best education. One son studied at an elite New England prep school in the 1980s. A daughter, a New York debutante, enrolled at Harvard Business School and has been romantically linked to the grandson of another Communist Party ''immortal.'' This book will bring the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans. We'll travel to Africa to show how the bank's China-Africa fund is displacing Western lenders in a battle for influence and investigate how the bank is introducing what could be a new form of colonialism in Venezuela, where CDB's loans not only buys Venezuelan oil but also benefits China's biggest state-run construction companies, which are building the apartment blocks and oil refineries the loans are earmarked for. This story will be told through anecdotes as well as facts and figures., 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 $45 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., 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 $45 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., 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 $45 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., Inside the engine-room of Chinas economic growth the China Development Bank Anyone wanting a primer on the secret of Chinas economic success need look no further than China Development Bank (CDB) which has displaced the World Bank as the worlds 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 Chinas domestic economic growth and how it is helping to expand Chinas influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of Chinas state-led economic development model, and its most glaring flaws. The bank is at the center of the countrys 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 $45 billion in credit has been given to the countrys two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of Chinas 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 Chinas 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 Chinas 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., Inside the engineroom of Chinas economic growth the China Development Bank Anyone wanting a primer on the secret of Chinas economic success need look no further than China Development Bank (CDB) which has displaced the World Bank as the worlds 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 Chinas domestic economic growth and how it is helping to expand Chinas influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of Chinas stateled economic development model, and its most glaring flaws. The bank is at the center of the countrys efforts to build a worldclass 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 $45 billion in credit has been given to the countrys two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of Chinas 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 ChinaAfrica 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 Chinas 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 Chinas 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.
9781118176368 1118176367 Anyone wanting a primer on the secret of China's economic success needs look no further than China Development Bank (CDB). The bank, 100 percent owned by the Chinese government, 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 $45 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.'' CDB has displaced the World Bank as the world's biggest development bank, lending billions to countries in Africa, Asia and Latin America to further Chinese policy goals. Despite one of the world's biggest default risks, it has lent more than $28 billion to Venezuela to secure oil supplies, another $25 billion to Russia, and $10 billion to Brazil's state-run oil company. Now the lender is at the forefront of another Chinese financial innovation -- state-led ''private'' equity investments. Chen Yuan, its 66-year old chairman, who has run the bank since 1998, himself typifies the rise of a Chinese Communist aristocracy which is beginning to pass political power from generation to generation. He's the son of Chen Yun, one of the founders of the People's Republic. Chen Yuan has made sure that his children get the best education. One son studied at an elite New England prep school in the 1980s. A daughter, a New York debutante, enrolled at Harvard Business School and has been romantically linked to the grandson of another Communist Party ''immortal.'' This book will bring the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans. We'll travel to Africa to show how the bank's China-Africa fund is displacing Western lenders in a battle for influence and investigate how the bank is introducing what could be a new form of colonialism in Venezuela, where CDB's loans not only buys Venezuelan oil but also benefits China's biggest state-run construction companies, which are building the apartment blocks and oil refineries the loans are earmarked for. This story will be told through anecdotes as well as facts and figures., 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 $45 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., 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 $45 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., 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 $45 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., Inside the engine-room of Chinas economic growth the China Development Bank Anyone wanting a primer on the secret of Chinas economic success need look no further than China Development Bank (CDB) which has displaced the World Bank as the worlds 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 Chinas domestic economic growth and how it is helping to expand Chinas influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of Chinas state-led economic development model, and its most glaring flaws. The bank is at the center of the countrys 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 $45 billion in credit has been given to the countrys two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of Chinas 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 Chinas 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 Chinas 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., Inside the engineroom of Chinas economic growth the China Development Bank Anyone wanting a primer on the secret of Chinas economic success need look no further than China Development Bank (CDB) which has displaced the World Bank as the worlds 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 Chinas domestic economic growth and how it is helping to expand Chinas influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of Chinas stateled economic development model, and its most glaring flaws. The bank is at the center of the countrys efforts to build a worldclass 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 $45 billion in credit has been given to the countrys two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of Chinas 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 ChinaAfrica 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 Chinas 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 Chinas 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.