China: Banking Reform and Economic Development Revisited

TitleChina: Banking Reform and Economic Development Revisited
Publication TypeMagazine Article
Year of Publication2007
AuthorsTrumpbour, J.
Date Published09/2007
Keywordsbanking, capitalism, China, Chinese economy, finance, financial systems

While China has enjoyed unprecedented economic growth, its banking industry is frequently derided as being unwieldy, slow and ineffective. This article gives a detailed study of the banking sector of China and the specific role that it plays in the Chinese economy today. The article argues that while the capitalist system criticizes the Chinese banking system as archaic, it is actually much more effective in its functioning than many of the so called developed financial systems of its western counterparts.