To open or not to open: The question of financial liberalization in China: Book review of: Vic Li Yu Wai. 2018. China’s Financial Opening: Coalition politics and policy changes. New-York, Routledge.

The question of China’s financial liberalization emerged in the late 1970s and early 1980s, when the chairman Deng Xiaoping kicked off the great transition of China’s economy from a Communist, or Maoist, to a hybrid socialist-capitalist system. The opening of China’s market to foreign capital and the control on domestic capital crossing Chinese borders became two major issues in China’s economic policy. China’s slow but relentless financial liberalization is still ongoing. This book by Yu Wai Vic Li, assistant professor in the Department of Social Sciences at the Education University of Hong Kong, appears at a crucial time for the future of China’s financial liberalization, as China and Western powers led by the US engage in harsh negotiations about reorganizing their economic relations (...)