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OverviewIn 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 decades, China has become the world's largest provider of bilateral development finance, funding infrastructure and industrial projects in emerging markets and developing countries through its two national policy banks, the China Development Bank (CDB) and the Export-Import Bank of China (China Exim). 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. Comparing Chinese policy banks with their foreign counterparts, she argues 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 challenging Western-led economic regimes as is commonly perceived. 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. Full Product DetailsAuthor: Muyang ChenPublisher: Cornell University Press Imprint: Cornell University Press Dimensions: Width: 15.20cm , Height: 2.40cm , Length: 22.90cm Weight: 0.907kg ISBN: 9781501775857ISBN 10: 1501775855 Pages: 240 Publication Date: 15 June 2024 Audience: College/higher education , Postgraduate, Research & Scholarly Format: Hardback Publisher's Status: Active Availability: Not yet available This item is yet to be released. You can pre-order this item and we will dispatch it to you upon its release. Table of ContentsReviewsAuthor InformationMuyang Chen is Assistant Professor of International Development at Peking University's School of International Studies. She has published in World Development, International Affairs, European Journal of International Relations, and Review of International Political Economy. Tab Content 6Author Website:Countries AvailableAll regions |