continued to grow, casting doubt on the received wisdom. The aim of this two-volume book is to analyze the

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theoretical analysis and real world practices employed in China s financial market. As China is increasingly

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explanation is consistent with the evidence that shows a drop in both output and interest rates at the onset

controversial issue. It is written in a lively manner to bring real world events into the discussion of all of

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a recession. This is a new channel of monetary policy that is especially relevant in view of