The Emergence of the New Chinese Banking System: Implications for Global Politics and the Future of Financial Reform

Maryland Journal of International Law, v. 27, 2012, p. 215-234

U of Maryland Legal Studies Research Paper No. 2012-39

21 Pages Posted: 31 Jul 2012

See all articles by Shruti Rana

Shruti Rana

Indiana University Bloomington - School of Global and International Studies; Affiliated Faculty, Indiana University Maurer School of Law, Stewart Center on the Global Legal Profession

Date Written: July 31, 2012

Abstract

As the current financial crisis spreads from country to country around the world, China’s new-found financial and political power is dominating global, financial, and political arenas. China’s recent rise to power deserves increased scrutiny as China’s experience may offer lessons and models for other countries struggling with financial chaos. These remarks begin a dialogue over the lessons that can be learned from China’ ascent to power, and considers some of implications of China’s rise. It also contrasts China’s experience with that of Western countries, who have approached financial reform from entirely different perspectives. After considering these perspectives, and providing an overview of the Chinese banking system, these remarks explain how China developed a system with strong state control in contrast to the U.S. free-market system, and questions which model will be more successful in moderating the current financial crisis. In sum, the questions around how China rose to power, and is seeking to use this power, is necessary to an understanding of how other countries may evaluate financial reform and develop effective solutions to global financial problems.

Keywords: China, banking reform, economic globalization, state capitalism

Suggested Citation

Rana, Shruti, The Emergence of the New Chinese Banking System: Implications for Global Politics and the Future of Financial Reform (July 31, 2012). Maryland Journal of International Law, v. 27, 2012, p. 215-234; U of Maryland Legal Studies Research Paper No. 2012-39. Available at SSRN: https://ssrn.com/abstract=2105741

Shruti Rana (Contact Author)

Indiana University Bloomington - School of Global and International Studies ( email )

355 N. Jordan Avenue
Bloomington, IN 47405
United States
812-856-7328 (Phone)

HOME PAGE: http://https://sgis.indiana.edu/faculty/directory/rana-shruti.html

Affiliated Faculty, Indiana University Maurer School of Law, Stewart Center on the Global Legal Profession ( email )

211 S. Indiana Avenue
Bloomington, IN 47405
United States
812-856-7328 (Phone)

HOME PAGE: http://https://sgis.indiana.edu/faculty/directory/rana-shruti.html

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
136
Abstract Views
715
rank
222,004
PlumX Metrics