The purpose of this paper is to apply Dean’s (2001) model of the ‘Asian governance triangle’ to assess the symbiosis relationships among the Chinese government finance, state-owned enterprises (SOEs) and the banking system in China. According to Dean, the relationship as a whole is fragile...

China has been delaying its adoption of a flexible exchange rate system with free capital flows. The main excuse is that its financial sector is still in its fragile stage and is not able to withstand any external shocks. A big bang approach towards such liberalization will only lead to...