TY  - BOOK
AU  - Chen,Muyang
TI  - The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance 
SN  - 9781501775864
PY  - 2024///]
CY  - Ithaca, NY
PB  - Cornell University Press, 
KW  - BUSINESS & ECONOMICS / Economics / Theory
KW  - bisacsh
KW  - POLITICAL SCIENCE / Public Policy / Economic Policy
KW  - SOCIAL SCIENCE / Sociology / General
KW  - China Development Bank
KW  - Export-Import Bank of China
KW  - belt and road initiative
KW  - Chinese lending
KW  - sovereign debt
KW  - financing infrastructure
KW  - export credit
KW  - Western influence
KW  - ASIAN STUDIES
KW  - ECONOMIC HISTORY
KW  - POLITICAL SCIENCE & POLITICAL HISTORY
KW  - China Development Bank, Export-Import Bank of China, belt and road initiative, Chinese lending, sovereign debt, financing infrastructure, export credit, Western influence
N1  - Frontmatter --; Contents --; Acknowledgments --; Abbreviations --; Introduction STATE ACTORS, MARKET GAMES --; 1 CAPITALIZING DEVELOPMENT From Tax Revenue to Bonds --; 2 DEBT FOR GROWTH? The Domestic Origin of the Chinese Pathway --; 3 GLOBALIZING LATE DEVELOPMENT What Makes China's Industrial Catch-Up Special? --; 4 THE LATECOMER'S CHALLENGE China and the West --; 5 WHAT'S NEXT? China's Development Finance at a Crossroads --; Conclusion REASSESSING CHINA'S RISE --; Notes --; Bibliography --; Index; restricted access
N2  - In The Latecomer's Rise, Muyang Chen reveals the nature and impact of a rapidly growing form of international lending: Chinese development finance.Over the past few decades, China has become the world's largest provider of bilateral development finance. Through its two national policy banks, the China Development Bank (CDB) and the Export-Import Bank of China (China Exim), it has funded infrastructure and industrial projects in numerous emerging markets and developing countries. Yet this very surge and magnitude of capital has raised questions about the characteristics of Chinese bilateral lending and its repercussions on the international order. Drawing on a variety of novel Chinese primary sources, including interviews and official bank documents, Chen pinpoints the distinctiveness of Chinese bilateral development finance, explains its origins, and analyzes its effects. She compares Chinese policy banks with their foreign counterparts to show that the CDB and China Exim, while state-supported, are in fact also market-oriented-they are as much government organs as they are profit-driven financial agencies that serve both state and firms' interests. This approach, which emerged out of China's particular economic history, suggests that Chinese overseas lending is not merely a tool of economic statecraft that challenges Western-led economic regimes. Instead, China's responses to extant rules, norms, and practices across given issue areas have varied between contestation and convergence.Rich with empirical detail and penetrating insights, The Latecomer's Rise demystifies the little-known workings of Chinese development finance to revise our conceptions of China's role in the international financial system
UR  - https://www.degruyterbrill.com/isbn/9781501775864
UR  - https://www.degruyterbrill.com/document/cover/isbn/9781501775864/original
ER  -