Spiderweb Capitalism, Kimberly Kay Hoang
Spiderweb Capitalism, Kimberly Kay Hoang
3 Rating(s)
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Spiderweb Capitalism
How Global Elites Exploit Frontier Markets

Author: Kimberly Kay Hoang

Narrator: Kathleen Li

Unabridged: 11 hr 36 min

Format: Digital Audiobook Download

Published: 09/06/2022


Synopsis

In 2015, the anonymous leak of the Panama Papers brought to light millions of financial and legal documents exposing how the superrich hide their money using complex webs of offshore vehicles. Spiderweb Capitalism takes you inside this shadow economy, uncovering the mechanics behind the invisible, mundane networks of lawyers, accountants, company secretaries, and fixers who facilitate the illicit movement of wealth across borders and around the globe.

Kimberly Kay Hoang conducted hundreds of in-depth interviews with private wealth managers, fund managers, entrepreneurs, C-suite executives, bankers, auditors, and other financial professionals. She traces the flow of capital from offshore funds in places like the Cayman Islands, Samoa, and Panama to special-purpose vehicles and holding companies in Singapore and Hong Kong, and how it finds its way into risky markets onshore in Vietnam and Myanmar. Hoang reveals the strategies behind spiderweb capitalism and examines the moral dilemmas of making money in legal, financial, and political gray zones.

Spiderweb Capitalism sheds critical light on how global elites capitalize on risky frontier markets, and deepens our understanding of the paradoxical ways in which global economic growth is sustained through states where the line separating the legal from the corrupt is not always clear.

About Kimberly Kay Hoang

Kimberly Kay Hoang is associate professor of sociology at the University of Chicago. She is the author of Dealing in Desire: Asian Ascendancy, Western Decline, and the Hidden Currencies of Global Sex Work. She lives in Chicago.


Reviews

Goodreads review by Melanie on August 28, 2023

I am probably not the right audience for the book as I'm not big into finance. That being said this was written well-enough to keep me somewhat focused and somewhat entertained. I say somewhat because at a certain point being non-specific it did feel repetitive. It was interesting to see how each es......more

Goodreads review by Linh on October 16, 2022

This book offers extensive and uniquely insightful analysis of different stakeholders at the forefront markets......more

Goodreads review by Tri on February 08, 2023

Commenting here cos some user "letrio" only accepts comments from "friends": Having a hard time imagining some highly scaled and coordinated anarchist plot efflorescing to become a viable alternative, tho interested in hearing what you see is the non-Borg brained way out from under the thumbs of the......more

Goodreads review by Tristen on January 19, 2025

As a financial Advisor, it was important for me to read this book. The see the correlation between the “frontier markets” of Vietnam, Myanmar and the USA: you can buy the politicians.......more

Goodreads review by MARC on February 06, 2025

Source Dissent Spring 2023, very handy description of offshore banking. Economic and political elite are all tied into the web.......more