{"id":1666,"date":"2011-06-22T12:53:15","date_gmt":"2011-06-22T10:53:15","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=1666"},"modified":"2011-06-23T20:59:46","modified_gmt":"2011-06-23T18:59:46","slug":"chinese-finance-comes-of-age","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/chinese-finance-comes-of-age\/","title":{"rendered":"Chinese Finance Comes of Age"},"content":{"rendered":"<p><a dir=\"ltr\" lang=\"en\" xml:lang=\"en\" rel=\"author\" href=\"http:\/\/www.project-syndicate.org\/contributor\/1608\" target=\"_blank\">Davies, Howard<\/a>.<\/p>\n<p>The Chinese financial system\u2019s evolution in recent years has been extraordinary. I have observed its transformation as a member of the International Advisory Council of the China Banking Regulatory Commission (CBRC).<\/p>\n<p>Back in 2002, all of China\u2019s major banks were awash in non-performing loans (NPLs), which in some cases amounted to more than 10% of the total balance sheet. None of the major banks met even the Basel 1 standards for capital adequacy. Few financiers in London or New York could have named any bank other than Bank of China, which was often wrongly thought to be the central bank. And to suggest that the United States Federal Reserve, or the United Kingdom\u2019s Financial Services Authority, might have anything to learn from China\u2019s financial authorities would have been thought absurd.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Project Syndicate<\/p>\n<p><a href=\"http:\/\/www.project-syndicate.org\/commentary\/davies14\/English\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Davies, Howard. The Chinese financial system\u2019s evolution in recent years has been extraordinary. I have observed its transformation as a member of the International Advisory Council of the China Banking Regulatory Commission (CBRC). Back in 2002, all of China\u2019s major banks were awash in non-performing loans (NPLs), which in some cases amounted to more than [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,38],"tags":[28,25],"class_list":["post-1666","post","type-post","status-publish","format-standard","hentry","category-18","category-38","tag-28","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=1666"}],"version-history":[{"count":3,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1666\/revisions"}],"predecessor-version":[{"id":1669,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/1666\/revisions\/1669"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=1666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=1666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=1666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}