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This chapter analyzes the structural financial power potential of the developmental state. Section 3.1 provides an overview of the political economy of Japan’s postwar financial system and the pressures that resulted in its gradual liberalization. Section 3.2 looks into the political economy of China’s system of financial repression and enquires into its compatibility with the acquisition of structural financial power deriving from the international role of a country’s financial markets. Section 3.3 compares the ability of the Chinese and the Japanese authorities to maintain their control over the domestic financial system.
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- Financial Repression and Structural Financial Power
- Chapter 3
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