What does the state do in China’s state-led infrastructure financialisation?

Financial geography III: the financialization of the city

Imogen T Liu and Adam D Dixon

Journal of Economic Geography, 2022, vol. 22, issue 5, 963-988

Abstract: China’s state-led financialisation of infrastructure is an alternative narrative to prevailing accounts of neoliberal financialisation in the advanced capitalist core, where the expansion of private market-based finance-led growth is theorised to transform traditional forms of public infrastructure development and production-based growth. Drawing on the case of Chinese state capital investment in Europe, we demonstrate empirically how the imperative to financialise infrastructure development is emergent from and contingent upon a productivist mode of capitalist development. We articulate two key transformations in which Chinese state capital is being used to leverage financial best practice and its network properties in service of the real economy.

Keywords: Financialisation; infrastructure; China; state capitalism (search for similar items in EconPapers)
JEL-codes: H54 O16 O18 R51 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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