China's Superbank. Debt, Oil and Influence - How China Development Bank is Rewriting the Rules of Finance. Bloomberg

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1 Brochure More information from China's Superbank. Debt, Oil and Influence - How China Development Bank is Rewriting the Rules of Finance. Bloomberg Description: Inside the engine-room of China's economic growth the China Development Bank Anyone wanting a primer on the secret of China's economic success need look no further than China Development Bank (CDB) which has displaced the World Bank as the world's biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China's domestic economic growth and how it is helping to expand China's influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of China's state-led economic development model, and its most glaring flaws. The bank is at the center of the country's efforts to build a world-class network of highways, railroads, and power grids, pioneering a lending scheme to local governments that threatens to spawn trillions of yuan in bad loans. It is doling out credit lines by the billions to Chinese solar and wind power makers, threatening to bury global competitors with a flood of cheap products. Another $45 billion in credit has been given to the country's two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of China's leaders for its leading companies to "go global." Bringing the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans, China s Superbank travels the globe, from Africa, where its China-Africa fund is displacing Western lenders in a battle for influence, to the oil fields of Venezuela. - Offers a fascinating insight into the China Development Bank (CDB), the driver of China's rapid economic development - Travels the globe to show how the CDB is helping Chinese businesses "go global" - Written by two respected reporters at Bloomberg News As China's influence continues to grow around the world, many people are asking how far it will extend. China s Superbank addresses these vital questions, looking at the institution at the heart of this growth. Contents: Preface ix Acknowledgments xix Chapter 1 Let 10,000 Projects Bloom 1 The Wuhu Model 4 The Chongqing Model 9 Global Financial Crisis 12 A Town Called Loudi 15 Li's Story 18 "Manhattan" in China 22 Credit Risk in a One-Party State 26 Cracks in the System 29 Chapter 2 Turning a Zombie Bank into a Global Bank 39

2 A Life in the Party 41 The Princeling Party: The Beginning of State Capitalism 50 Taking Over a Basket Case 55 Transforming CDB from an ATM Machine 58 Developing a Slogan 62 Beating the Commercial Banks 64 Gao Jian: Creating a Market for "Risk-Free" Bonds 68 The West Self-Destructs: The Financial Crisis 72 Moving Beyond Wall Street 75 Chapter 3 Nothing to Lose but Our Chains: China Development Bank in Africa 85 Made in Ethiopia 90 Ethiopia's Zone: Exporting to the West 94 China-Africa Development Fund: The State's Private Equity Arm 96 Rising Role of China in Africa 101 Fixed Capital: Western-Style Lending 105 African Tiger: Can Ghana Escape the Resource Curse? 108 Fresh Capital 116 Chapter 4 Risk versus Reward: China Development Bank in Venezuela 123 Default in Bolívar's Country 125 China's Venezuelan Adventure 126 Loans for Oil 132 Cars, Housing, and Gold: Good Business for China 136 Ecuador 139 Russia 140 China in the Backyard of the United States 141 Chapter 5 Funding the New Economy 147 Obama's Dream 151 Default-Free Bond Market 153 Financing China's Global Company: Huawei 157 The Final Frontier: Private Equity 163 Acting as a Gatekeeper 167

3 Imprint of the State 169 Chapter 6 The Future 175 About the Authors 181 Index 183 Ordering: Order Online - Order by Fax - using the form below Order by Post - print the order form below and send to Research and Markets, Guinness Centre, Taylors Lane, Dublin 8,

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