Pundits have been predicting the impending collapse of the Chinese banking system. The collapse has not happened, so what have these pundits been missing?

James Stent is the former director of two Chinese banks from 2003 to 2016, and the author of the “China’s Banking Transformation: the Untold Story,” which dissects China’s hybrid banking model. Stent demonstrates that the banking system can be used as a prism for understanding how the contemporary Chinese political economy works.

The "Harvard on China" podcast is hosted by James Evans at Harvard's Fairbank Center for Chinese Studies.

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