Chapter 5
Funding the New Economy
We are a private company. The government doesn’t tell us what to do.
—Yingli Green Energy CEO Miao Liansheng, responding to a question about the company’s $5.78 billion line of credit from China Development Bank, June 2011
None of the G-7 countries provide[s] levels of financing anywhere near those of the China Development Bank. That keeps me up at night.
—Fred Hochberg, head of US Exim Bank, speech, June 15, 2011
A blanket of smog shrouded the North China Plain on a June day, reducing visibility to a few hundred yards. Nothing unusual for the Beijing area. It was a typical midsummer, or midwinter, or midspring, or midautumn day. An Austrian reporter on the bus hurtling southwest from the capital toward the city ...
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