Digital Media and Risk Culture in China’s Financial Markets

Digital Media and Risk Culture in China’s Financial Markets
ISBN-10
1351715976
ISBN-13
9781351715973
Category
Social Science
Pages
144
Language
English
Published
2019-01-03
Publisher
Routledge
Author
Zhifei Mao

Description

This book analyzes the risk cultures in China that have emerged from the entanglement of new communication technologies and financial markets, examining the role that digital media play in Asian modernity and offering an alternative narrative to that of the West. The book illustrates the impact of exclusively Chinese digital media on power dynamics within risk definition, arguing that information and communication technologies (ICTs) empower individuals, enabling them to compete with an expert-oriented risk culture controlled by Government- and banker-led media outlets. With struggles, competitions, compromises, and confrontations, major communicators in financial world are collectively producing risk cultures based on interpersonal relations instead of contractual obligations, in which insider information is valued over professional analysis. Meanwhile, investors are trapped in a risk culture paradox that they themselves have produced, as they attempt to take advantage of other actors’ uncertainties and eventually produce risks for the entire market.

Similar books