You searched for: Content Type Working Paper Remove constraint Content Type: Working Paper Publishing Institution Centre for International Governance Innovation Remove constraint Publishing Institution: Centre for International Governance Innovation Political Geography China Remove constraint Political Geography: China Publication Year within 3 Years Remove constraint Publication Year: within 3 Years Topic Markets Remove constraint Topic: Markets
- Author: Hongying Wang
- Publication Date: 03-2016
- Content Type: Working Paper
- Institution: Centre for International Governance Innovation
- Abstract: In recent years, the world has seen rapid growth in China’s financial reach beyond its borders. Following the announcement of a “going out” strategy at the turn of the century, many Chinese enterprises have ventured to invest and operate abroad. After three decades as primarily a recipient of foreign direct investment (FDI), China has now emerged as a major FDI-originating country as well. Much of China’s foreign aid is closely entangled with its outgoing FDI, and it has also been rising. Since 2013, the Chinese government has been pushing for a new One Belt, One Road (OBOR) initiative, aiming to connect China with countries along the ancient Silk Road and a new Maritime Silk Road via infrastructure investment. In addition, since 2009, China has actively promoted the internationalization of its currency, the renminbi (RMB). There has been a great deal of anxiety about the motivations behind China’s going out policy and its possible international consequences. Many view it as an expression of China’s international ambition and a strategy that threatens the existing international order; however, that is not the whole story. An equally important but often less understood issue is the role of China’s domestic politics and political economy in shaping its new activism in foreign financial policy. Moreover, it is unclear how successful the going out policy is. The complexity of China’s going out policy was the topic for a recent round table discussion hosted by the Centre for International Governance Innovation and the Foreign Policy Institute at the School of Advanced International Studies of Johns Hopkins University in Washington, DC. Participants discussed a number of issues around two broad themes: the impact of domestic political economy on China’s foreign economic policy and the challenges for China’s external financial strategy — in particular, its OBOR initiative.
- Topic: Markets, Political Economy, Monetary Policy, Infrastructure, Foreign Direct Investment, Financial Markets
- Political Geography: China