{"product_id":"authoritarian-markets","title":"Authoritarian Markets","description":"\u003cp\u003e\u003cb\u003e\u003ci\u003eAuthoritarian Markets\u003c\/i\u003e\u003c\/b\u003e\u003cb\u003e explores the political foundations of China's banking boom and its far-reaching impact on the Chinese economy. \u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eIn 1978 China had no commercial banks. Today it commands the world's largest banking system, with assets equal to 40 percent of global GDP. Adam Y. Liu argues that this rise was not the product of market reforms but of political bargains and bureaucratic mobilization. \u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eIn the 1990s, Beijing issued bank licenses as bargaining chips – securing cooperation from local governments as it pushed through painful reforms. The result was a sprawling, competitive banking market built not in spite of authoritarian rule but because of it.\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eDrawing on interviews, spatial data, census records, surveys, and experiments, Liu reveals how local state banks became both engines of China's growth and incubators of its current economic risks. Eye-opening and persuasive, \u003ci\u003eAuthoritarian Markets \u003c\/i\u003eoffers fresh insight into the political logic of market development in China and authoritarian states worldwide.\u003c\/b\u003e\u003c\/p\u003e","brand":"Cornell University Press","offers":[{"title":"Default Title","offer_id":56673169277272,"sku":"9781501787591","price":29.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9781501787591_0e4da04f-80c4-48a4-8514-441082dabca3.jpg?v=1779949816","url":"https:\/\/agendabookshop.com\/products\/authoritarian-markets","provider":"Agenda Bookshop","version":"1.0","type":"link"}