Divergence or convergence in the global development finance regime?

David Skidmore ()

Chapter 1 in China, the West and the Global Development Finance Regime, 2025, pp 1-14 from Edward Elgar Publishing

Abstract: This chapter introduces the principal topic of this study: the impact of China's emergence as a major donor to the global development finance regime. Contrary to many previous interpreters, we argue that heightened competition between an illiberal China and a liberal West (especially the United States) over the past decade has produced convergence rather than divergence in the major norms, institutions, and policies that guide the global development finance regime. In other words, competition has proceeded through emulation rather than differentiation. Instead of a divided order of exclusive blocs, competitive convergence has led to a reformed, if more heterogeneous, development finance regime. The chapter also discusses some of the conceptual issues that feature in our analysis and provides a roadmap to the book.

Keywords: China; Development finance; Infrastructure; Competitive convergence; Regime change; Liberal international order (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035334360
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