Carl E. Walter is a former COO of JP Morgan China and the co-author of Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise. He lived in China for twenty years and actively participated in numerous financial reforms. He played a major role in China’s groundbreaking first overseas IPO in 1992, as well as the first listing of a state-owned enterprise on the New York Stock Exchange in 1994. He was a member of the Management Committee at China International Capital Corporation, China’s first and most successful joint venture investment bank, where he supported a number of significant domestic stock and debt underwritings for major Chinese corporations. Fluent in Mandarin, he holds a PhD from Stanford University and a graduate certificate from Beijing University.