SUPERBANK POWERS CHINA GROWTH BUT AUTHORS QUESTION SUSTAINABILITY
January 1st, 2013
IT has been called the world’s most powerful bank. In their book ‘China's Superbank Debt, Oil and Influence - How China Development Bank [CDB] is Rewriting the Rules of Finance’, Bloomberg journalists Henry Sanderson and Michael Forsythe describe how the “CDB’s system of local government finance has helped lift millions out of poverty and shielded the country from recession”.Its support to telecoms and new energy sectors has helped make world-leading companies. Yet, says Sanderson, “China’s infrastructure-fuelled growth model, championed by CDB, ...
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