Macro Reading List 1.15.2011 : China Stock Fraud, Some Yearn’s for Return to Mao Communism

January 15, 2011

  • China : Worthless stocks in China – link
  • China :P review China’s Banking and Financial Markets: The Internal Research Report of the Chinese Government – wiley
  • China : Congqing party Boss Bo Xilia wants a return to Mao style Communism, gains support from those left out of boom – bloomberg
    • “The ultimate power is on the Politburo Standing Committee—the nine slots at the top.”
  • China: The Power is at the Center
    • Top posts within the Chinese Communist party, US diplomats believe, sometimes go to the highest bidder.
    • Politburo member Zhou Yongkang, who heads up Chinese security services, is said to be closely linked with the state oil industry.
    • Jia Qinglin, in slot four of the Chinese leadership hierarchy, allegedly maintains close contacts with Peking’s construction industry.
    • Hu Jintao’s son-in-law was the boss of the big internet firm One source claimed that Wen Jiabao’s wife controlled the precious gems industry.
    • In addition, many of the 25 Politburo members are thought to maintain “close ties” to real estate magnates, many of whom are likewise party functionaries.
  • China : Author Yu Jie discusses “China’s Best Actor: Wen Jiabao China USC
  • Quote : “The idea that the government can grown the economy is seriously flawed. The economy grows on its own. Water it periodically. Fertilize occasionally with organic material. And don’t overfeed. “Caroline Baum – bloomberg
  • Book List : “The Failure of the ‘New Economics:’ An Analysis of the Keynesian Fallacies.” “The more you spend the more you save. The more you eat your cake, the more cake you have.”
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