China's Superbank: Debt, Oil and Influence - How China Development Bank is Rewriting the Rules of Finance (Bloomberg) [Hardcover]

Preface ix Acknowledgments xix Chapter 1 Let 10,000 Projects Bloom 1 The Wuhu Model 4 The Chongqing Model 9 Global Financial Crisis 12 A Town Called Loudi 15 Li′s Story 18 "Manhattan" in China 22 Credit Risk in a One–Party State 26 Cracks in the System 29 Chapter 2 Turning a Zombie Bank into a Global Bank 39 A Life in the Party 41 The Princeling Party: The Beginning of State Capitalism 50 Taking Over a Basket Case 55 Transforming CDB from an ATM Machine 58 Developing a Slogan 62 Beating the Commercial Banks 64 Gao Jian: Creating a Market for "Risk–Free" Bonds 68 The West Self–Destructs: The Financial Crisis 72 Moving Beyond Wall Street 75 Chapter 3 Nothing to Lose but Our Chains: China Development Bank in Africa 85 Made in Ethiopia 90 Ethiopia′s Zone: Exporting to the West 94 China–Africa Development Fund: The State′s Private Equity Arm 96 Rising Role of China in Africa 101 Fixed Capital: Western–Style Lending 105 African Tiger: Can Ghana Escape the Resource Curse? 108 Fresh Capital 116 Chapter 4 Risk versus Reward: China Development Bank in Venezuela 123 Default in Bolívar′s Country 125 China′s Venezuelan Adventure 126 Loans for Oil 132 Cars, Housing, and Gold: Good Business for China 136 Ecuador 139 Russia 140 China in the Backyard of the United States 141 Chapter 5 Funding the New Economy 147 Obama′s Dream 151 Default–Free Bond Market 153 Financing China′s Global Company: Huawei 157 The Final Frontier: Private Equity 163 Acting as a Gatekeeper 167 Imprint of the State 169 Chapter 6 The Future 175 About the Authors 181 Index 183