Zongyuan Zoe Liu
Sovereign Funds: How the Communist Party of China Finances Its Global Ambitions
Sovereign Funds: How the Communist Party of China Finances Its Global Ambitions
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Excellent- More about Sovereign Funds: How the Communist Party of China Finances Its Global Ambitions
The book "Sovereign Funds" explores the rapid growth of China's sovereign wealth funds and their significant impact on global markets, domestic and multinational businesses, and international politics. It highlights how the Communist Party of China has used these funds to invest in strategic industries and advance its global interests.
Format: Hardback
Length: 288 pages
Publication date: 20 June 2023
Publisher: Harvard University Press
The sudden surge in China's sovereign wealth funds has had a profound impact on global markets, domestic and multinational businesses, and international politics. This growth has been a key factor in China's global rise, as the country has strategically deployed its sovereign funds to advance its national interests.
Sovereign Funds: The Story of China's Global Financier explores the evolution of China's sovereign funds, including the China Investment Corporation, the State Administration of Foreign Exchange, and Central Huijin Investment. Author Zongyuan Zoe Liu provides a comprehensive and up-to-date analysis of these institutions, highlighting their role in transforming low-reward foreign exchange reserves into investment capital and power projection.
One of the key aspects of China's sovereign funds is their ability to shape global markets. These institutions have made significant investments in various industries, including semiconductors, fintech, and artificial intelligence, which have had a ripple effect on the global economy. Sovereign funds have also played a crucial role in advancing the Belt and Road Initiative, a global infrastructure project that aims to connect China with other countries through trade and investment.
In addition to their economic impact, sovereign funds have also had a significant influence on international politics. They have been used as tools for power projection by the Chinese government, with close relationships with prestigious sovereign funds enabling the country to flourish in China and fuel the ascendance of private tech giants such as Alibaba, Ant Finance, and Didi.
However, sovereign funds are not just for oil exporters. The CPC is a leader in both foreign exchange reserves investment and economic statecraft, using state capital to achieve its goals. This has led to concerns about the concentration of power in the hands of the state and the potential for corruption and abuse.
Despite these concerns, sovereign funds continue to play a significant role in China's economy and global politics. As China continues to grow and evolve, it will be interesting to see how these institutions continue to shape the country's future.
Dimension: 210 x 140 (mm)
ISBN-13: 9780674271913
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