{"product_id":"sovereign-funds-9780674271913","title":"Sovereign Funds","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eZongyuan Zoe Liu provides the first in-depth examination of sovereign funds in China. Under President Xi, the state has become an aggressive financier, using sovereign funds at home and abroad to secure allies and influence, boost strategic industries like semiconductors and fintech, and pick winners among domestic businesses and multinationals.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e[\u003ci\u003eSovereign Funds\u003c\/i\u003e] takes up a particular aspect of China’s economic statecraft, showing how it employs its financial resources to promote its interests abroad…Give[s] us a much better understanding of what needs to be done to restrain China abroad. -- Edward Chancellor * Wall Street Journal *\u003cbr\u003eRevealing…It describes the personalities, facts and figures that undergird the labyrinthine and often secret world of Chinese state money and the strategies that Beijing deploys to secure strategic assets around the world. -- James Kynge * Financial Times *\u003cbr\u003eLiu, an expert on international political economy at the Council on Foreign Relations, shows how the Chinese Communist Party (CCP) uses ‘sovereign leverage funds’ to promote fiscal security at home and geopolitical influence abroad. -- Francis P. Sempa * New York Journal of Books *\u003cbr\u003e\u003ci\u003eSovereign Funds\u003c\/i\u003e raises broader questions about the presence of such funds in the financial system and the role that can be played by state finance in the global marketplace…It offers an insightful look into the permutations of the Chinese state in response to privatisation. -- Seth O'Farrell * fDi Intelligence *\u003cbr\u003eA fascinating insight into the evolution of China’s financial policy and its strategic investments using leveraged foreign exchange reserves. -- Diane Coyle * Enlightened Economist *\u003cbr\u003e[Liu] shows that Chinese sovereign funds are so different from better-known sovereign wealth funds, such as those of the governments of Abu Dhabi and Norway, that she prefers to call them ‘sovereign leveraged funds’…These various exotic workarounds, which Liu skillfully traces, produce ‘shadow reserves.’ -- Andrew J. Nathan * Foreign Affairs *\u003cbr\u003eFollow the money, find the politics…Liu shows how China pioneered a whole new class of sovereign wealth funds. * Times of India *\u003cbr\u003eA novel and fascinating history of China’s rich and powerful sovereign wealth funds, which play an outsize role in the country’s strategy for both international development and external influence. -- Kenneth Rogoff, Maurits C. Boas Chair of International Economics at Harvard University and former Chief Economist of the IMF\u003cbr\u003eZoe Liu’s pathbreaking book uncovers how and why the Chinese Communist Party employs sovereign leveraged funds to further state interests at home and abroad. This is a must-read for anyone interested in the causes and consequences of China’s rise. -- Thomas J. Christensen, author of \u003ci\u003eThe China Challenge: Shaping the Choices of a Rising Power\u003c\/i\u003e\u003cbr\u003eSovereign wealth funds were once considered anomalies but are now becoming the trend. China’s sovereign wealth funds have grown rapidly and become increasingly important in the face of deglobalization; their unique model and widespread impact are worth exploring and assessing. Liu’s book is a fascinating account of and reflection on what she calls ‘sovereign leveraged funds.’ Whether you agree with its conclusions or not, you should read it. -- Jin Xu, author of \u003ci\u003eEmpire of Silver: A New Monetary History of China\u003c\/i\u003e\u003cbr\u003e\u003ci\u003eSovereign Funds\u003c\/i\u003e is a revealing account of the origins and evolution of China’s sovereign leveraged funds. This book is a must-read for any serious observer of China’s global economic and financial strategy. -- Edwin M. Truman, Senior Fellow, Harvard Kennedy School, and former Assistant Secretary of the US Treasury\u003cbr\u003eZoe Liu provides deep insight into China's sovereign leveraged funds, fascinating institutions that play a crucial role in the often fraught relationship between state and market, with implications and lessons for many other countries. This is essential reading for those interested in China's development and its economic engagement with the world. -- Martin Chorzempa, author of \u003ci\u003eThe Cashless Revolution\u003c\/i\u003e\u003cbr\u003eLiu provides the definitive account of how wide and how deep China’s sovereign wealth funds have penetrated global capital markets. Her identification of ‘sovereign leveraged funds’ amounts to a major conceptual breakthrough in the study of global financial flows, bringing to light how any state with the political will and financial engineering prowess can launch a fund to further its strategic interests. In a moment of fraught financial tensions between the United States and China, \u003ci\u003eSovereign Funds\u003c\/i\u003e will prove an indispensable book for policymakers and academics alike. -- John Yasuda, author of \u003ci\u003eOn Feeding the Masses: An Anatomy of Regulatory Failure in China\u003c\/i\u003e","brand":"Harvard University Press","offers":[{"title":"Default Title","offer_id":48865485422935,"sku":"9780674271913","price":32.26,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780674271913.jpg?v=1722274195","url":"https:\/\/bookcurl.com\/products\/sovereign-funds-9780674271913","provider":"Book Curl","version":"1.0","type":"link"}