Skip to main content Accessibility help
×
Home
Hostname: page-component-768ffcd9cc-kfj7r Total loading time: 0.423 Render date: 2022-11-30T00:30:12.906Z Has data issue: true Feature Flags: { "shouldUseShareProductTool": true, "shouldUseHypothesis": true, "isUnsiloEnabled": true, "useRatesEcommerce": false, "displayNetworkTab": true, "displayNetworkMapGraph": false, "useSa": true } hasContentIssue true

2 - The Journey to Global Creditor

A Brief History of Chinese Development Finance

Published online by Cambridge University Press:  21 April 2022

Axel Dreher
Affiliation:
Universität Heidelberg, Heidelberg, Germany
Andreas Fuchs
Affiliation:
Georg-August-Universität, Göttingen, Germany
Bradley Parks
Affiliation:
William & Mary, Virginia
Austin Strange
Affiliation:
The University of Hong Kong
Michael J. Tierney
Affiliation:
William & Mary, Virginia
Get access

Summary

This chapter provides historical context for China’s evolution into a development banker during the 21st century. The People’s Republic of China has been involved with development finance—as both a recipient and donor of foreign aid and other development flows—since its founding in 1949. This chapter describes earlier efforts by researchers to track Chinese-financed development projects around the world. It then outlines basic shifts in China’s approach to development finance over time, and separates China’s approach to development finance into four stages. During the “Early Years” (1949–1959), revolutionary foreign policy under Mao (1960–1977), and the “Reform Era Recalibration” (1978–1998), important building blocks were set in place that help understand the nature of contemporary Chinese development finance. During the fourth and current phase, beginning with the “Going Out” strategy, China’s government has made the transition from an aid donor to a global development banker. The chapter shows how the benefactor-to-banker shift was a product of China’s long history as a development financier. It also provides an historical framework to help readers disentangle novel features of contemporary Chinese development finance from preexisting motivations, institutions, policies, and practices.

Type
Chapter
Information
Banking on Beijing
The Aims and Impacts of China's Overseas Development Program
, pp. 33 - 63
Publisher: Cambridge University Press
Print publication year: 2022

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×