{"id":2747,"date":"2017-12-30T17:38:15","date_gmt":"2017-12-30T21:38:15","guid":{"rendered":"https:\/\/www.bu.edu\/gdp\/?page_id=2747"},"modified":"2024-06-03T12:05:55","modified_gmt":"2024-06-03T16:05:55","slug":"chinese-development-finance","status":"publish","type":"page","link":"https:\/\/www.bu.edu\/gdp\/research\/gci\/chinese-development-finance\/","title":{"rendered":"Intl. Financial Architecture"},"content":{"rendered":"<p><span>The international financial architecture is in need of fundamental reform. The system needs to be larger, work better and provide more voice representation to emerging market and developing countries. The necessary reforms will not be possible without the active and welcome participation of the People\u2019s Republic of China. <\/span><\/p>\n<p><span aria-label=\"\" class=\"c-mrkdwn__br\" data-stringify-type=\"paragraph-break\"><\/span><span>As the most dynamic growth miracle of the century, the most interconnected trading nation on earth and the largest emitter of carbon emissions with the world\u2019s largest population, China has a major role to play in the reform and maintenance of the system. <\/span><\/p>\n<p><span aria-label=\"\" class=\"c-mrkdwn__br\" data-stringify-type=\"paragraph-break\"><\/span><span>The Global China Initiative\u2019s work in this area advances policy-oriented research on China\u2019s role in the international financial architecture, with particular emphasis on the Global Financial Safety Net and global development finance. We advance this work through collaborative and parallel research with institutes in China and other emerging market and developing countries.<\/span><\/p>\n<p><!-- CUSTOM CSS --><\/p>\n<style>.gegi-custom .col-sm-margin-half { position: relative; display: block; height: 0; } .gegi-custom .col-sm-margin-half > .landing-calloutCenter { position: absolute; padding-right: 20px; padding-left: 20px; width: 100%; left: 0; top: 50%; display: block; -webkit-transform: translateY(-50%); -moz-transform: translateY(-50%); -ms-transform: translateY(-50%); transform: translateY(-50%); } .gegi-custom h3.landing-calloutTitle { font-size: 28px; text-align:center; margin:0 } .gegi-custom .col-sm-margin-half { background:#02BAB9 center center no-repeat; } @media (max-width: 500px) { .gegi-custom h3.landing-calloutTitle { font-size: 24px; } .gegi-custom div.landing-calloutCenter,.col-sm-margin-half { padding-top: 15%; padding-bottom: 15%; }} @media (min-width: 500px) { .gegi-custom .col-sm-margin-half div.landing-calloutCenter,.col-sm-margin-half { padding-top: 10%; padding-bottom: 10%; }} @media (min-width: 768px) { .gegi-custom .col-sm-margin-half div.landing-calloutCenter,.col-sm-margin-half { padding-top: 15%; padding-bottom: 15%; }} @media (min-width: 992px) { .gegi-custom .col-sm-margin-half div.landing-calloutCenter,.col-sm-margin-half { padding-top: 18%; padding-bottom: 18%; }} @media (min-width: 1200px) { .gegi-custom h3.landing-calloutTitle { font-size: 32px; } .gegi-custom .col-sm-margin-half div.landing-calloutCenter,.col-sm-margin-half { padding-top: 18%; padding-bottom: 18%; }}<\/style>\n<h3>Research Highlights<\/h3>\n<p><!-- END CUSTOM CSS --><\/p>\n<div id=\"GEGI-mainpage\" class=\"gegi-custom\">\n<aside class=\"landing-calloutWrap\">\n<div class=\"col-sm-margin-half\" style=\"background-image: url('\/gdp\/files\/2022\/02\/1.png'); width: -webkit-fill-available;\">\n<div class=\"landing-calloutCenter\">\n<h3 class=\"landing-calloutTitle\" style=\"text-align: center;\"><a href=\"https:\/\/www.bu.edu\/gdp\/2022\/09\/21\/in-debt-restructuring-is-a-haircut-better-than-rescheduling-new-research-shows-they-are-comparable-approaches\/\"><span>In Debt Restructuring, is a \u201cHaircut\u201d Better than \u201cRescheduling?\u201d<\/span><\/a><\/h3>\n<\/div>\n<\/div>\n<div class=\"col-sm-margin-half\" style=\"background-image: url('\/gdp\/files\/2022\/02\/2.png'); width: -webkit-fill-available;\">\n<div class=\"landing-calloutCenter\">\n<h3 class=\"landing-calloutTitle\" style=\"text-align: center;\"><a href=\"https:\/\/www.bu.edu\/gdp\/2022\/05\/15\/debt-distress-and-development-finance-in-the-covid-19-era\/\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Debt Distress and Development Finance in the COVID-19 Era&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:512,&quot;12&quot;:0}\">Debt Distress and Development Finance in the COVID-19 Era<\/span><\/a><\/h3>\n<\/div>\n<\/div>\n<div class=\"col-sm-margin-half\" style=\"background-image: url('\/gdp\/files\/2022\/02\/4.png'); width: -webkit-fill-available;\">\n<div class=\"landing-calloutCenter\">\n<h3 class=\"landing-calloutTitle\" style=\"text-align: center;\"><a href=\"https:\/\/www.bu.edu\/gdp\/2021\/09\/22\/brady-bonds-and-the-potential-for-debt-restructuring-in-the-post-pandemic-era\/\">Brady Bonds and the Potential for Debt Restructuring in the Post-Pandemic Era<\/a><\/h3>\n<\/div>\n<\/div>\n<div style=\"clear: both;\"><\/div>\n<div class=\"col-sm-margin-half\" style=\"background-image: url('\/gdp\/files\/2022\/02\/3.png'); width: -webkit-fill-available;\">\n<div class=\"landing-calloutCenter\">\n<h3 class=\"landing-calloutTitle\" style=\"text-align: center;\"><a href=\"https:\/\/www.bu.edu\/gdp\/2022\/01\/30\/reflections-on-sovereign-debt-restructuring-in-low-income-countries-and-the-shanghai-model\/\/\">Reflections on Sovereign Debt Restructuring in Low-Income Countries and the \u2018Shanghai Model\u2019<\/a><\/h3>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<aside class=\"landing-calloutWrap\"><\/aside>\n<h3 style=\"text-align: center;\">Latest News &amp; Publications<\/h3>\n<p style=\"text-align: left;\"><ul class=\"news_list category_1071\"><li class=\"post_33128\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/29\/brokers-on-the-ground-chinese-commercial-creditors-entry-into-africa-sovereign-development-finance\/\">Brokers on the Ground: Chinese Commercial Creditors\u2019 Entry into Africa Sovereign Development Finance<\/a><\/h4>\n<span class=\"date\">May 29, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nBy Tianyi Wu\r\n\r\nThe portfolio of financiers participating in China's overseas development finance is changing. Between 2000 and 2019, development finance institutions (DFIs), primarily the Export-Import... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/29\/brokers-on-the-ground-chinese-commercial-creditors-entry-into-africa-sovereign-development-finance\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_33047\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/26\/the-growth-connections-between-china-and-the-global-south-a-review-and-a-refocus\/\">The Growth Connections Between China and the Global South: A Review and a Refocus<\/a><\/h4>\n<span class=\"date\">May 26, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nAs late as 1984, half of China\u2019s exports consisted of raw materials, including oil, coal, food and livestock. After 47 years of reform and opening, <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/26\/the-growth-connections-between-china-and-the-global-south-a-review-and-a-refocus\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_32990\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/14\/how-can-chinas-debt-sustainability-analysis-better-serve-global-souths-development-goals\/\">How Can China&#8217;s Debt Sustainability Analysis Better Serve Global South&#8217;s Development Goals?<\/a><\/h4>\n<span class=\"date\">May 14, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nBy Tianyi Wu\r\n\r\nThe current debt and development crisis in the Global South has resurfaced a long-standing tension in sovereign development finance: do tools designed to... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/14\/how-can-chinas-debt-sustainability-analysis-better-serve-global-souths-development-goals\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_32981\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/14\/debt-sustainability-with-chinese-characteristics-norm-convergence-and-its-limits-in-sovereign-lending\/\">Debt Sustainability with Chinese Characteristics: Norm Convergence and Its Limits in Sovereign Lending<\/a><\/h4>\n<span class=\"date\">May 14, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nIn 2019, China introduced the Belt and Road Initiative Debt Sustainability Framework (BRI\u2013DSF) for low-income countries (LICs), offering a critical window into sovereign lending risk... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/05\/14\/debt-sustainability-with-chinese-characteristics-norm-convergence-and-its-limits-in-sovereign-lending\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_32887\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/04\/30\/commodity-price-linked-bonds-enhancing-debt-resilience-in-commodity-dependent-economies\/\">Commodity-Price-Linked Bonds: Enhancing Debt Resilience in Commodity-Dependent Economies<\/a><\/h4>\n<span class=\"date\">April 30, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nBy early 2025, debt servicing pressures had intensified. Interest payments exceed 10 percent of government revenues in 56 developing countries\u2014double the level a decade earlier\u2014and... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/04\/30\/commodity-price-linked-bonds-enhancing-debt-resilience-in-commodity-dependent-economies\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_32879\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/04\/29\/disentangling-decision-making-chinese-overseas-infrastructure-finance-in-africa\/\">Disentangling Decision-Making: Chinese Infrastructure Finance in Africa<\/a><\/h4>\n<span class=\"date\">April 29, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nBy Tianyi Wu\r\n\r\nIn 2016, China committed $28.8 billion in infrastructure loans to African countries\u2013\u2013a record peak that has been followed by a rapid drop as... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/04\/29\/disentangling-decision-making-chinese-overseas-infrastructure-finance-in-africa\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_32648\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/03\/27\/patient-capital-long-term-orientation-and-global-imbalances-a-rebuttal\/\">Patient Capital, Long-Term Orientation and Global Imbalances: A Rebuttal<\/a><\/h4>\n<span class=\"date\">March 27, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nBy Yan Wang\r\n\r\nThe global economy in early 2026 is confronted with an escalating war in the Middle East causing humanitarian disasters and energy crises. On... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/03\/27\/patient-capital-long-term-orientation-and-global-imbalances-a-rebuttal\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_32425\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2026\/03\/05\/beyond-debt-reprofiling-chinas-role-in-global-south-development\/\">Beyond Debt Reprofiling: China\u2019s Role in Global South Development<\/a><\/h4>\n<span class=\"date\">March 05, 2026<\/span>\n<p class=\"excerpt\">\r\n\r\nBy Marina Zucker-Marques, Rosa He and Tianyi Wu\r\n\r\nSince the onset of the COVID-19 pandemic, many developing countries have faced a financial deadlock: they must scale... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2026\/03\/05\/beyond-debt-reprofiling-chinas-role-in-global-south-development\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<li class=\"post_32045\">\n<h4 class=\"news_post_title\"><a href=\"https:\/\/www.bu.edu\/gdp\/2025\/12\/17\/why-development-finance-falls-short-and-how-it-can-better-serve-the-global-south\/\">Why Development Finance Falls Short\u2014and How It Can Better Serve the Global South<\/a><\/h4>\n<span class=\"date\">December 17, 2025<\/span>\n<p class=\"excerpt\">\r\n\r\nBy Zheng Zhai and Kevin P. Gallagher\r\n\r\nCountries across the Global South need a stepwise increase in investment to improve the well-being of their population and... <a class=\"more\" href=\"https:\/\/www.bu.edu\/gdp\/2025\/12\/17\/why-development-finance-falls-short-and-how-it-can-better-serve-the-global-south\/\">[ More ]<\/a><\/p>\n<\/li>\n\n<\/ul>\n<\/p>\n<p style=\"text-align: center;\"><a class=\"button\" href=\"https:\/\/www.bu.edu\/gdp\/publications\/gci-publications\/\">View more GCI publications<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The international financial architecture is in need of fundamental reform. The system needs to be larger, work better and provide more voice representation to emerging market and developing countries. The necessary reforms will not be possible without the active and welcome participation of the People\u2019s Republic of China. As the most dynamic growth miracle of [&hellip;]<\/p>\n","protected":false},"author":10886,"featured_media":15050,"parent":2604,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/pages\/2747"}],"collection":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/users\/10886"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/comments?post=2747"}],"version-history":[{"count":40,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/pages\/2747\/revisions"}],"predecessor-version":[{"id":27882,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/pages\/2747\/revisions\/27882"}],"up":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/pages\/2604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media\/15050"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media?parent=2747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}