Digital Media and Risk Culture in China’s Financial Markets

1st Edition

Zhifei Mao

Routledge
January 3, 2019 Forthcoming
Reference - 176 Pages
ISBN 9781138895836 - CAT# Y328361
Series: Routledge Research in Digital Media and Culture in Asia

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Summary

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 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 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.

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