Publications
 

A record-keeper's account of how China built its own money rails. From a cash window at the People's Bank of China in Shenzhen, the author spent eleven years inside the machine as it was assembled piece by piece: an anti-money-laundering regime built on the road into the FATF, a licensing system for a third-party payments industry that had grown up before its rules were written, the free trade account fenced inside Shanghai's free trade zone, and, in a borrowed Beijing conference room, the design of CIPS — China's own cross-border payment system. A book about settlement: where money finally comes to rest, and who bears the risk when it does not. The public record is set out at the end of every chapter.