In this revealing book Junie Tong reflects on the role of banking and finance in China. The author adopts a critical perspective that views the societal as well as economic functioning of banking and finance. Finance and Society in 21st Century China considers how far the modern economy is disconnected from Chinese culture and history and the problems this separation may cause. She questions the common assumption that China has outgrown its reliance on its Western counterparts. The author believes that the country is still very much dependent on exports and foreign investments and any radical or rapid reduction in either would have serious adverse consequences for China's sustainable economic growth. To provide a model for 'finance and society' that integrates culture and economy, Tong draws on the seminal work of Belgian economist, banker and social commentator, Bernard Lietaer, who has focused on cultural forces and the future of money in the world, generally. Using representative case studies for illustration, Tong applies Lietaer's work in a specifically Chinese context, highlighting the need to root finance and enterprise in the rhythms and forces within Chinese culture to avoid future chaos and achieve socio-economic stability in a country now so critical to global well-being.
Dr Junie T. Tong is Director of Studies and Lecturer in Finance at the Centre for Teaching in Management, Birmingham, UK. She is an ex-investment banker and was Associate Director of Swiss Bank Corporation International. She has been working in the field of finance for over two decades and gained her PhD in Business from the University of Buckingham. Dr Tong has focused on interdisciplinary research and her Finance-in-Society Model integrates finance with considerations relating to the wider economy, society and philosophy. She spent eight years working and living in China. She chaired the Corporate Social Responsibility (CSR) focus group of both the British Chamber of Commerce and EU Chamber of Commerce in Shanghai for the year of 2010. In addition she has worked and lived in a number of leading international cities and such experience has provided her with multicultural understanding underpinning both Western and Eastern perspectives. Whilst working in financial consulting in China, Dr Tong was a visiting professor at the School of Economics at Jilin University and at the Management School of Dalian University of Technology. She was the founder of Catalyst Foundation Ltd., which is a not-for-profit microfinance organization empowering disadvantaged women workers in both urban and rural China.
'Compelling and Concise....a must read for economists and social scientists alike to understand China’s financial issues and its new place in the world.' - Tim Werkhoven, Business Manager, European Union Chamber of Commerce in China 'Dr Junie Tong's brilliant and timely argument for the model of Finance-in-Society is highly persuasive.' - Professor Kensei Hiwaki, Professor, International Economics,Tokyo International University