Capital Markets Transparency and Security: The
Nexus Between U.S.-China Security Relations and America's Capital
Markets
Prepared By: Adam M. Pener, Senior Analyst, William J. Casey Institute of the Center for Security Policy; June 29, 2001
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- Executive
Summary
- Background
- Findings
- Recommendations
- China's
Capital Requirements
- Banking System
- Energy Shortfalls and Pension Requirements
- Additional Economic Indicators
- Conclusion
- China's
Recapitalization
- Domestic Chinese Markets
- International Financial Markets
- Conclusion
- "Bad
Actors" in the Markets
- The Soviet Example
- Shift To Securities Markets
- Russia Frames The Debate
- China's Financial Breakout
- PLA-Affiliiated Companies
- Specific Entity Review
- Governmental Confirmation
- Early Recommended Solutions
- Conclusion
- Case Studies
- Gazprom
- China National Petroleum Company/PetroChina
- Talisman Energy Inc
- Conclusion
- Systemic
Shortcomings
- Capital Raising "Loopholes"
- Transparency and Disclosure
- Disclosure Deficiencies
- Expanding Disclosure Requirements
- Risk In The Market
- Conclusion
- Capital Markets
Leverage
- Case Studies
- Depth of the U.S. Capital Markets
- Capital Markets Sanctions
- Potential Effectiveness of Capital Markets Sanctions
- Conclusions