Authoritarian Markets Michael McGaha and lives and property rebuilt

and lives and property rebuilt

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Authoritarian Markets Michael McGaha and lives and property rebuiltAuthoritarian Markets explores the political foundations of China's banking boom and its far reaching impact on the Chinese economy. In 1978, China had no commercial banks. Today it commands the world's largest banking system, with assets equal to 40% of global GDP. Adam Y. Liu argues that this rise was not the product of market reforms, but of political bargains and bureaucratic mobilization. In the 1990s, Beijing issued bank licenses as bargaining