The pullback of Chinese overseas financing and its implications for a post-neoliberal global financial order
Bibliographic Data
| ID | 4237340 |
|---|---|
| Authors | Mike Larsen (0000-0002-0442-7066, Watson Institute for International & Public Affairs, Brown University , Providence, RI 02912, corresponding author), Mathias Larsen |
| Year | 2025 |
| Publication date | 2025-06-04 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Socio-Economic Review (JOURNAL) |
| Journal identifiers | ISSN: 1475-1461 • E-ISSN: 1475-147X |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/ser/mwaf030 |
| OpenAlex | W4411075212 |
| Language | EN |
| Citations received | 1 |
| References cited | 41 |
Over the past 15 years, Chinese overseas financing has reached a staggering $2 trillion. Differing from neoliberal principles, Chinese finance is characterized by longer time horizons, less conditionality, and more state capital. Consequently, a consensus has emerged that China is gradually reshaping the global financial architecture toward a post-neoliberal order. Through a mixed-methods analysis, I draw from three statistical databases and 132 interviews to show that since peaking in 2017, Chinese financing has fallen drastically by end of 2023 across both debt (96 per cent) and equity (68 per cent). I find that Chinese financing is no longer perceived in China, the West, or host countries as providing a scalable alternative to Western sources. Challenging the current consensus, I argue that we need to adjust expectations to recognize a diminished impact. Instead, China's evolving role includes promoting a variety of both neoliberal and post-neoliberal principles in the adjacent fields of debt renegotiations, development finance norms, and project finance practices
Business · Economics · Financial system · Order (exchange) · Pullback · Pure mathematics · Finance · Global Financial Crisis and Policies · International Development and Aid · Mathematics · State Capitalism and Financial Governance
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China's overseas lending
States and the Reemergence of Global Finance
Regime Complexity and Complex Foreign Policy
Globalists
Post-neoliberalism in Latin America
The Strange Non-Death of Neoliberalism
Zombie neoliberalism and the ambidextrous state
China Inc. goes global. Transnational and national networks of China’s globalizing business elite
Banking unconditionally
International financial subordination
A novel pathway to power? Contestation and adaptation in China's internationalization of the RMB
Chaotic mélange
China in a World of Orders
Contradiction and restructuring in the Belt and Road Initiative
The ‘Global South’ in the study of world politics
Donors go home’
Politics by Default
How to resist the Wall Street Consensus
Power transitions and global trade governance
Symbols of State
Domestic Politics, China's Rise, and the Future of the Liberal International Order
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Goodbye Washington Confusion, hello Wall Street Consensus
China's example for Meles' Ethiopia
Post-neoliberalism in Latin America
Coordinated Credit Spaces
The Wall Street Consensus
Strengthening the Foundations? Alternative Institutions for Finance and Development
The Globalization of Liberalization
China's rise and the reshaping of sovereign debt relief
Post-Neoliberalism? An Introduction
Making Sense of (Post)Neoliberalism
The Making of Neoliberal Globalization
| Unique citing works | 1 |
|---|---|
| Citations per year | 1 |
| Citation span | 2026 - 2026 (1) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 1 |