Animal Spirits with Chinese Characteristics

1. Front Matter

   Pages i-xix

   PDF

2. Introduction and Overview

   • Mark A. De Weaver

   Pages 1-10

3. Investment with Chinese Characteristics

   • Mark A. De Weaver

   Pages 11-29

4. Socialist Booms and Busts

   • Mark A. De Weaver

   Pages 31-53

5. A History of the Cycle

   • Mark A. De Weaver

   Pages 55-76

6. Warped Incentives and “Second-Best” Efficiency

   • Mark A. De Weaver

   Pages 77-99

7. Banking and Finance Run Amok

   • Mark A. De Weaver

   Pages 101-121

8. Taking Away the Ladle

   • Mark A. De Weaver

   Pages 123-141

9. Suppressing “Blind” Investment

   • Mark A. De Weaver

   Pages 143-156

10. Scientific Development: Master Plan or Myth?

    • Mark A. De Weaver

    Pages 157-172

11. Conclusion

    • Mark A. De Weaver

    Pages 173-177

12. Back Matter

    Pages 179-224

    PDF

Will China eventually be able to eliminate its socialist animal spirits? Highlighting the importance of China's investment booms and busts for both the Chinese and the world economy, Animal Spirits with Chinese Characteristics describes the origins and evolution of the investment cycle during the command economy period.

• China
• Controlling
• development
• efficiency
• growth
• innovation
• Investment
• liquidity
• management
• monetary policy
• money
• risk management

"If you want to understand China's economy, or the political system that's attached to it, you should read this book. DeWeaver's account of the business cycle as it operates in that country's system of state capitalism will be extremely useful to academic economists, policymakers, investors, and anyone else who wants to understand how the world's second-largest economy really works in detail. The book's focus on inefficiencies, and on the political aspects of the process that produces policy, make it invaluable both as a guide to the country's present economic system, and a warning about its future. The author's scholarship is profound the book draws extensively on information unavailable in English but his practical experience in the Chinese business world gives the discussion a realism and depth that are very unusual in Western accounts of modern China, and his dry wit makes reading it a pleasure." -

Daniel Cloud, author of The Lily: Evolution, Play, and the Power of a Free Society

MARK A. DEWEAVER PhD, manages Quantrarian Asia Hedge, an emerging markets fund he cofounded in 1999. He lived and worked in China from 1985-1994, first as a student at Sun Yatsen University in Guangzhou, later as a research analyst for Peregrine Brokerage (now part of BNP Paribas). He has written for Project Syndicate, Asia Times Online, the Asia Sentinel, and Iraq Business News.

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