Respatialising Finance: Power, Politics and Offshore Renminbi Market Making in London

Respatializing Finance by Sarah Hall provides a critical analysis of prevailing analyses of International Financial Centres (IFCs) by examining the internationalization of the Chinese Renminbi (RMB). The book offers an original theoretical approach that brings economic geography into dialogue with international political economy, highlighting the politics, institutions, and economics of IFCs and their role in global monetary and financial landscapes.

Format: Paperback / softback
Length: 192 pages
Publication date: 06 May 2021
Publisher: John Wiley and Sons Ltd

RESPATIALISING FINANCE ‘In Respatialising Finance Sarah Hall uses the internationalisation of the Chinese Renminbi (RMB) to work through a sympathetic conceptual and empirical critique of prevailing analyses of International Financial Centres (IFCs). Her conceptual (re)framing stresses the politics,institutions and economics of IFCs and will be essential reading for all social scientists interested in the dynamism of contemporary finance and financial centres. Professor Jane Pollard,Centre for Urban and Regional Development Studies (CURDS),Newcastle University,UK ‘Through detailed study of Chinese RMB internationalisation and combining analytical insights from economic geography,sociology,and international political economy,Sarah Hall shows why offshore networks anchored in territories such as the City of London are both core to global monetary and financial landscapes,and provide a key terrain for state power and politics. Professor Paul Langley,Department of Geography,Durham University,UK Respatialising Finance is one of the first detailed empirical studies of how and why London became the leading western financial centre within the wider Chinese economic and political project of internationalising its currency,the renminbi (RMB). This in-depth volume examines how political authorities in both London and Beijing identified the potential value of Londons international financial centre in facilitating and legitimising RMB internationalisation,and how they sought to operationalise this potential through a range of market-making activities. The text features original data from on-the-ground research in London and Beijing conducted with financial and legal professionals working in RMB markets and offers an original theoretical approach that brings .

RESPATIALISING FINANCE

Sarah Hall employs the internationalization of the Chinese Renminbi (RMB) to undertake a compassionate conceptual and empirical critique of prevailing interpretations of International Financial Centres (IFCs). Her conceptual (re)framing highlights the politics, institutions, and economics of IFCs, making it an indispensable reading for all social scientists interested in the dynamics of contemporary finance and financial centers.

Professor Jane Pollard, Centre for Urban and Regional Development Studies (CURDS), Newcastle University, UK

Through meticulous examination of Chinese RMB internationalization and integrating analytical insights from economic geography, sociology, and international political economy, Sarah Hall demonstrates why offshore networks anchored in territories like the City of London are integral to the global monetary and financial landscapes, while also serving as a crucial terrain for state power and politics.

Professor Paul Langley, Department of Geography, Durham University, UK

Respatialising Finance stands as one of the pioneering empirical investigations into how and why London emerged as the preeminent Western financial center within the broader Chinese economic and political initiative of internationalizing its currency, the renminbi (RMB). This comprehensive volume delves into how political authorities in both London and Beijing recognized the potential value of London's international financial center in facilitating and legitimizing RMB internationalization, and how they endeavored to operationalize this potential through a diverse array of market-making activities.

The text incorporates original data obtained through on-the-ground research in London and Beijing, conducted in collaboration with financial and legal professionals actively engaged in RMB markets. Furthermore, it offers an innovative theoretical framework that contributes significantly to our understanding of the respatialization of finance.

Weight: 290g
Dimension: 152 x 228 x 22 (mm)
ISBN-13: 9781119386049