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Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise ReviewI really enjoyed the description of China's financial setup. I think this book makes a relatively dry sounding subject quite enjoyable and I finished reading this book in about a day -- the only real concerns I have are two 1) Man the writers have a giant man crush on ex-Premier Zhu. For about 90% of the book, Zhu is the peerless reformer of the financial system...and then suddenly in the penultimate chapter Zhu's reforms are made to appear as the fundamental cause of the deepening corruption among China's 'princeling' party. 2) Despite the relatively grim description of the financial system and the growing corruption in China the writers, in less than a page, conclude that "China will not follow Japan's path because its geographic and population size, and the constrained nature of its banking system" which I must admit did not make much sense to me, malinvestment is malinvestment. I am also unsure about their argument that because it took 20 years for Greek perfidy to come to light regarding their financial and fiscal state the PRC's opaque system is safe from a crisis of confidence.Still, this is a great book and I would definitely recommend it to anyone even remotely interested in China...and by extension the rest of the world.Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise Overview
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