Finance and the Real Economy

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The book explores the contrasting philosophical foundations of finance in China and the West, tracing their divergence since ancient times. Following the Asian Financial Crisis, China has focused on reforming its financial system while maintaining protection from global competition. In contrast, the West has dismantled regulatory structures, leading to a significant rise in asset prices and debt, culminating in the 2008-09 financial collapse. As China plans to open its capital markets, the interaction between these two financial systems is poised to shape the future of global political economy.