| ID | 180150 |
| Title Proper | New coal champion of the world |
| Other Title Information | the political economy of Chinese overseas development finance for coal-fired power plants |
| Language | ENG |
| Author | Gallagher, Kevin P ; Kong, Bo |
| Summary / Abstract (Note) | This study aims to explain why China has become a new coal champion of the world. From 2006 to 2019, our new data set shows that China has financed 14 percent of the newly installed coal fired power plants across 17 countries around the world. We deploy a ‘push and pull’ analytical model and combine both qualitative and quantitative analysis to examine the political economy of Chinese overseas finance for coal. Our analysis shows that the globalization of Chinese official development finance for coal-fired power is a function of both the pull by the demand from the 17 countries, which have turned to the Chinese policy banks for financial backing to build coal-fired power plants, and the push by the coal-fired power equipment manufacturing sector in China and the central government in Beijing, which have been confronted with a set of structural challenges following the 2007–2008 global financial crisis. Our findings carry some worrisome policy implications for the global effort to reduce CO2 emissions resulting from coal burning in the electric sector. Without changes on the demand side, and a profound re-alignment of forces within China, Chinese development finance for coal-fired power may prove relatively resilient. |
| `In' analytical Note | Energy Policy Vol. 155; Aug 2021: p. 112334 |
| Journal Source | Energy Policy 2021-08 155 |