Taking a Closer Look at China's Financial System

Today on the Breakfast Grille, we speak to Fraser Howie, author of the book Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise [2nd edition]. 

He talks about:

--  The history of how the Chinese government reformed and modeled its financial system in the 30 years since it began its policy of engagement with the west

--  Fraser discusses what's different in this 2nd edition, his motivation for writing the book, and if he's received any response from the Chinese government so far. 

--  If the GDP numbers are reliable, and if the numbers accurately reflect China's growth

--  The non-performing loan ratio of Chinese banks

--  If leadership changes this year would pose a risk for China's financial system

--  Will China surpass the US as the world's PREMIER economy

--  If there are tough times for China, would that encourage them to open up their markets more