Back-Alley Banking
Kellee S. Tsai
Chinese entrepreneurs have founded more than thirty million private businesses since Beijing instituted economic reforms in the late 1970s. Most of these private ventures, however, have been denied access to official sources of credit. State banks continue to serve state-owned enterprises, yet most private financing remains illegal. How have Chinese entrepreneurs managed to fund their operations? In defiance of the national banking laws, small business owners have created a dizzying variety of informal financing mechanisms, including rotating credit associations and private banks disguised as other types of organizations.
Back-Alley Banking includes lively biographical sketches of ... Read more
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About Kellee S. Tsai
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Doug Guthrie, New York University
Journal of Asian Business
Kellee Tsai sets out to explain China's mystery of the missing billions, and she does ... Read more