{"id":16900,"date":"2014-05-12T05:04:22","date_gmt":"2014-05-12T03:04:22","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=16900"},"modified":"2014-05-12T05:07:09","modified_gmt":"2014-05-12T03:07:09","slug":"16900","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/16900\/","title":{"rendered":"The Impact of China&#8217;s Banking Sector"},"content":{"rendered":"<p>Adair Turner <a href=\"https:\/\/www.project-syndicate.org\/commentary\/adair-turner-warns-that-full-liberalization-of-china-s-bank-sector-could-lead-to-another-global-crisis\" target=\"_blank\">writes<\/a>: \u00a0Improved market discipline in China does have an important role to play in addressing the structural causes of imbalance. Wasteful construction investment is encouraged by the under-pricing of rural land. The lack of a normal ownership relationship between the central government and state-owned enterprises (SOEs) allows the latter to pay minimal dividends and over-invest in business expansion. Caps on interest rates on bank deposits result in household savers supplying a large subsidy to corporate borrowers. And SOEs have better access to credit from state-owned banks than private companies do.<\/p>\n<p>Two distinctively Chinese factors and one inherent feature of all banking systems interact. \u00a0The first Chinese factor is the authorities\u2019 focus on \u201curbanization\u201d as an end in itself, rather than as a byproduct of industrialization. The second is China\u2019s decentralized approach to economic development, with strong competition between regions and cities often focusing on prestige urban infrastructure projects.<\/p>\n<p style=\"text-align: center\"><a href=\"http:\/\/www.w-t-w.org\/en\/16900\/chinese-banking\/\" target=\"_blank\" rel=\"attachment wp-att-16901\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-16901\" src=\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/Chinese-Banking-300x162.jpg\" alt=\"Chinese Banking\" width=\"300\" height=\"162\" srcset=\"https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/Chinese-Banking-300x162.jpg 300w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/Chinese-Banking-500x271.jpg 500w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2014\/05\/Chinese-Banking.jpg 588w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adair Turner writes: \u00a0Improved market discipline in China does have an important role to play in addressing the structural causes of imbalance. Wasteful construction investment is encouraged by the under-pricing of rural land. The lack of a normal ownership relationship &hellip; <a href=\"https:\/\/www.w-t-w.org\/en\/16900\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-16900","post","type-post","status-publish","format-standard","hentry","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Adair Turner writes: Improved market discipline in China does have an important role to play in addressing the structural causes of imbalance. Wasteful construction investment is encouraged by the under-pricing of rural land. The lack of a normal ownership relationship between the central government and state-owned enterprises (SOEs) allows the latter to pay minimal dividends\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Adela Rogers\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.w-t-w.org\/en\/16900\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"W-T-W.org - Women and Finance\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"The Impact of China\u2019s Banking Sector - W-T-W.org\" \/>\n\t\t<meta property=\"og:description\" content=\"Adair Turner writes: Improved market discipline in China does have an important role to play in addressing the structural causes of imbalance. Wasteful construction investment is encouraged by the under-pricing of rural land. The lack of a normal ownership relationship between the central government and state-owned enterprises (SOEs) allows the latter to pay minimal dividends\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.w-t-w.org\/en\/16900\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2014-05-12T03:04:22+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2014-05-12T03:07:09+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"The Impact of China\u2019s Banking Sector - W-T-W.org\" \/>\n\t\t<meta name=\"twitter:description\" content=\"Adair Turner writes: Improved market discipline in China does have an important role to play in addressing the structural causes of imbalance. Wasteful construction investment is encouraged by the under-pricing of rural land. 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