Spiderweb Capitalism: How Global Elites Exploit Frontier Markets

UChicago Yuen Campus in Hong Kong
168 Victoria Road, Mount Davis
Hong Kong

In 2015, the anonymous leak of the Panama Papers brought to light millions of financial and legal documents exposing how the super-rich hide their money using complex webs of offshore vehicles.  

Kimberly Kay Hoang, Professor of Sociology and the College at the University of Chicago, traveled more than 350,000 miles and 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. 
 
Her book “Spiderweb Capitalism” sheds critical light on how global elites capitalize on risky frontier markets, and the people who facilitate the illicit movement of wealth across borders and around the globe. The talk will deepen 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.  
 

Speaker  

Kimberly Kay Hoang  
Professor of Sociology and the College, the Director of Global Studies 
The University of Chicago  

In-person event (This talk is a closed-door session) 

Program  

6:15 pm – 6:30 pm     Registration  
6:30 pm – 8:00 pm   Talk by Professor 
8:00 pm                          Event ends  

About Director’s Pick

From current news, STEM, to arts and history, The University of Chicago Hong Kong Campus Faculty Director and Executive Director share a broad range of interests. The Director’s Pick series catalogs an array of webinars covering various topics that our directors wish to share with our audience. Read More