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Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Prosper or Perish

Prosper or Perish

Hardcover

Investing & FinanceChinese HistoryGeneral Political Science

ISBN10: 0801450624
ISBN13: 9780801450624
Publisher: Cornell Univ Pr
Published: Sep 15 2012
Pages: 232
Weight: 1.05
Height: 0.90 Width: 6.10 Depth: 9.20
Language: English

The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China's central bank to bail out RCCs. In Prosper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others.

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