Reluctant Regulators – How the West Created and How China Survived the Global Financial Crisis

Leo F. Goodstadt was chief policy adviser to the Hong Kong Government as head of its Central Policy Unit (1989-97) and has had an extensive consultancy practice in Asian banking. He has written widely on the global financial crisis and on China's economic development.

A compelling account of why the global financial crisis owes much to a flawed regulatory culture in Washington and London, and why the banking system in Mainland China has been weakened by the well-intentioned fiscal stimulus package introduced in response to the crisis. Goodstadt argues that the authorities in both the US and Mainland China could learn from the experiences of Hong Kong, which show that a strong regulatory framework does not have to hinder economic growth. -- Hans Genberg, former Executive Director of Research, Hong Kong Monetary Authority