Profits, Politics and Panics


Cover of the book Profits, Politics and Panics by Hong Kong University Press, Hong Kong University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Hong Kong University Press ISBN: 9789882204812
Publisher: Hong Kong University Press Publication: December 15, 2009
Imprint: Language: English
Author: Hong Kong University Press
ISBN: 9789882204812
Publisher: Hong Kong University Press
Publication: December 15, 2009
Imprint:
Language: English

Between 1935 and 1985, Hong Kong’s growth seemed unstoppable. The economy flourished despite wars, revolution and Western protectionism to emerge as a world-class manufacturing exporter and an international financial centre. Yet, for bankers, these were troubled years, with bank runs, corporate scandals and the 1983 currency collapse. The crises were avoidable and caused by government blunders as well as the banks’ mismanagement. This book offers an absorbing account of a turbulent banking industry which will be compelling reading not only for bankers and corporate executives but for readers interested in government’s relations with business and the sources of Hong Kong’s economic success. The author recounts the rise and fall of local Hong Kong banks, their disastrous funding of property and share ‘bubbles’ in the 1960s and their links to gold and drug smuggling. HSBC and foreign banks became the biggest beneficiaries of the post-war industrial boom but were hard hit by the corporate failures of the 1970s and 1980s. The book reveals hitherto undisclosed details of the complex financial relationship with China. Hong Kong’s banks supplied the hard currency needed by Beijing during the Cold War and the troubled Maoist era, thus laying the foundations for Hong Kong’s current role in financing China’s modernisation. The author reassesses the British record and highlights the struggle for autonomy from London’s interference. But there are also startling disclosures about the shortcomings of such distinguished personalities as Sir John Cowperthwaite and Sir Philip Haddon-Cave, with costly consequences for the financial system and the community.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Between 1935 and 1985, Hong Kong’s growth seemed unstoppable. The economy flourished despite wars, revolution and Western protectionism to emerge as a world-class manufacturing exporter and an international financial centre. Yet, for bankers, these were troubled years, with bank runs, corporate scandals and the 1983 currency collapse. The crises were avoidable and caused by government blunders as well as the banks’ mismanagement. This book offers an absorbing account of a turbulent banking industry which will be compelling reading not only for bankers and corporate executives but for readers interested in government’s relations with business and the sources of Hong Kong’s economic success. The author recounts the rise and fall of local Hong Kong banks, their disastrous funding of property and share ‘bubbles’ in the 1960s and their links to gold and drug smuggling. HSBC and foreign banks became the biggest beneficiaries of the post-war industrial boom but were hard hit by the corporate failures of the 1970s and 1980s. The book reveals hitherto undisclosed details of the complex financial relationship with China. Hong Kong’s banks supplied the hard currency needed by Beijing during the Cold War and the troubled Maoist era, thus laying the foundations for Hong Kong’s current role in financing China’s modernisation. The author reassesses the British record and highlights the struggle for autonomy from London’s interference. But there are also startling disclosures about the shortcomings of such distinguished personalities as Sir John Cowperthwaite and Sir Philip Haddon-Cave, with costly consequences for the financial system and the community.

More books from Hong Kong University Press

Cover of the book Pacific Crossing by Hong Kong University Press
Cover of the book Frames of Anime by Hong Kong University Press
Cover of the book Tales from No. 9 Ice House Street by Hong Kong University Press
Cover of the book Messy Urbanism by Hong Kong University Press
Cover of the book Harbin to Hanoi by Hong Kong University Press
Cover of the book International Education and the Chinese Learner by Hong Kong University Press
Cover of the book A Lifetime in Academia by Hong Kong University Press
Cover of the book First Queer Voices from Thailand by Hong Kong University Press
Cover of the book Chinese Landscape Painting as Western Art History by Hong Kong University Press
Cover of the book Obsession by Hong Kong University Press
Cover of the book Escape from Hong Kong by Hong Kong University Press
Cover of the book The Perfect Dictatorship by Hong Kong University Press
Cover of the book Japanese Cinema Goes Global by Hong Kong University Press
Cover of the book The Pusan International Film Festival, South Korean Cinema and Globalization by Hong Kong University Press
Cover of the book Colony, Nation, and Globalisation by Hong Kong University Press
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy