GEGI Hosts Talk on China’s Rising Economic Statecraft

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The Global Economic Governance Initiative (GEGI), a research initiative at the Frederick S. Pardee School of Global Studies at Boston University, hosted an April 1, 2016 talk led by Gregory Chin, Associate Professor at York University, entitled “China’s Rising Economic Statecraft- Development Finance in Perspective.”

Chin, who teaches the political economy of China, Asia, the BRICS and global governance, focused on China’s rise as an international creditor, recent changes in global systems of development finance and China’s role as the main driver of change and relations with partner states. 

“Part of this is trying to think through not only China as a main driver of change, but also the relations with follower states and this dynamic between leader and follower states,” Chin said. “I think China is doing some interesting things that way too.”

Chin also discussed why China has established a new multi-level architecture while also receiving a larger role within existing institutions such as the World Bank.

It’s a multi-level architecture with bilateral, regional and multilateral banks,” Chin said. “It’s not just one level, it’s kind of this multi-level architecture that’s emerging. The interesting thing is why is China going multilateral? Traditionally, they didn’t prefer multilateral as much.”

Chin said while China has developed this new multi-level architecture with new multilateral development banks, they have been given an increasing role within the World Bank.

“China has been given a number of positions across the bank, so you can actually see China’s role and voice in the World Bank actually has been increasing,” Chin said. “It’s not as though it hasn’t been given more room in existing institutions. There has been an effort to give China more of a voice within the World Bank.”