Democracy And Finance In China

A study of Chinese finance discussing the probable influence of Chinese fiscal philosophy on the fiscal psychology of the Chinese people and interpreting the sociological phases of Chinese finance by examining the political or economic changes that accompanied fiscal reforms.

This book questions whether China’s market reforms have created favorable social conditions for democracy, whether the emerging entrepreneurial class will serve as the democratic social base, and the role of government in the process of transition.

This book focuses on the global financial crisis of 2008-2009 and its implications for democracy. Why and how did the crisis come about? Are there any instructive lessons to be drawn from comparisons with the Great Depression of the 1930s? What are the democratic response mechanisms to cope with serious crises? Do they work? Is China a new trend setter? Do values matter? Are global democratic rules a possibility? These are some of the key questions addressed in the volume.

As the Covid-19 pandemic strikes hard, protests in Hong Kong appear to have abated. Distant seem the days when yellow umbrellas and balaclavas saturated global media. And yet, just like at the start of what has now come to be known as the 2019 “global protest wave”, Hong Kong remains at the frontline of political contestation worldwide. The protests against the 2019 Hong Kong anti-extradition law unearthed one of the main points of contention between Hong Kong and mainland China. Through the protests, China’s increasingly assertive stance has found a counterweight, revealing how important the city is to Beijing. China’s actions towards Hong Kong might serve as a litmus test for Beijing’s ability to mediate and pacify its neighbourhood. Meanwhile, the Covid-19 pandemic risks further heightening tensions between the Hong Kong and the mainland. What makes Hong Kong so special? To what extent have the protests exacerbated or eased over time? How will the city’s role in mainland China’s outward-looking plans change, if the protests continue?