Subprime Lessons: East Meets West

Chi Lo

Chapter 3 in China After the Subprime Crisis, 2010, pp 42-53 from Palgrave Macmillan

Abstract: Abstract There are many lessons from the subprime crisis for both the East and the West. While the West has a lot to ponder regarding re-regulating its banking system and treatment of financial innovation in the post-subprime years, Asia may get the wrong signal from these post-crisis re-regulation measures, especially when it sees that China’s restrictive model seems to have helped avoid the worst. Meanwhile, China is in the middle of liberalising its financial, notably insurance, sector and pushing for consumerism to power its economic growth in the future years. The subprime debacle shows that this process could be problematic if it is not managed properly. So there is a lot of food for thought for the Middle Kingdom.

Keywords: Banking System; Credit Default Swap; Great Depression; Financial Innovation; Efficient Market Hypothesis (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29896-5_4

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DOI: 10.1057/9780230298965_4

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