The bill for China’s bank-lending spree is coming due. An announcement on 23 February by China’s fifth-largest lender, the Bank of Communications (BoCom), of a 42 billion yuan ($6.15 billion) rights offering, created a stir in Asian financial markets—not because it was unexpected, but because it represents the biggest fund-raising effort by a mainland company [...]
27 Feb. The Feds Ben Bernanke said imbalances created from China’s large holdings of US assets could pose a risk to the financial system. “It would be a healthier situation if China saved less and we saved more, and as a result they were not accumulating dollar assets so quickly and we had a more [...]
01 Feb. A new and unexpected division has opened up in the debate about capitalism. The old rows between Left and Right, between the advocates of free markets and the advocates of socialism, are over, as the market evangelists predicted would happen. Yet their assumption that liberal democracy would sweep all before it no longer [...]
The Next Asia: Opportunities and Challenges for a New Globalization by Stephen Roach The Next Asia is a collection of essays written by Roach over the past three years reporting how the Asia story has played out to date, and how it looks for the future. Most of the book focuses on China, providing a [...]