Sovereign Funds: How the Communist Party of China Finances Its Global Ambitions

“A fascinating insight into the evolution of China’s financial policy and its strategic investments using leveraged foreign exchange reserves.” —Diane Coyle, Enlightened Economist

“[Liu] shows that Chinese sovereign funds are so different from better-known sovereign wealth funds, such as those of the governments of Abu Dhabi and Norway, that she prefers to call them ‘sovereign leveraged funds’...These various exotic workarounds, which Liu skillfully traces, produce ‘shadow reserves.’” —Andr...