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| 1 |
ID:
092162
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| Publication |
2009.
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| Summary/Abstract |
This paper investigates why some energy decisions are made faster than others in a reformed and globalized China. This investigation uncovers five factors that determine whether a proposal becomes a decision in the Chinese political system: (1) associated benefits of the proposed decision for other policy problems; (2) presence of a consistent 'issue champion'; (3) strength of mobilized and united 'veto players'; (4) vertical and horizontal support; and (5) clear policy preferences of the central leadership. The paper argues that the Chinese decision-making process has become increasingly consultative, iterative, and participatory and that it is also increasingly prone to deadlock, inaction, and paralysis. Thus, the Chinese decision-making process is increasingly similar to that of the United States in the era of reform and globalization. While the capacity of the Chinese state to make and implement distributive policies has remained largely unchanged, reform and globalization has weakened its capacity to make and implement redistributive policies.
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| 2 |
ID:
181839
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| Summary/Abstract |
This article examines the political economy of Chinese overseas development finance for coal fired power plants. In just over a decade China's two major policy banks provide more financing for overseas coal-fired power plant expansion than any other public financier in the world economy. We show how China's overseas surge in public financing for coal fired power plants is a function of a number of domestic push and foreign pull factors. Excess capacity, environmental regulation, and structural change are push factors that converge with rising demand for energy, pockets of coal abundance, and the lack of financing in Western capital markets for coal fired power plants. Fragmentation across the Chinese system and the demand for coal outside China's borders allow for a decline sector on the mainland to become a global Chinese powerhouse.
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| 3 |
ID:
156258
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| Summary/Abstract |
This article explores the magnitude, motivations, and mechanisms of the globalization of Chinese finance for energy. Like the national development banks and export–import banks of industrialized countries before them, China’s policy banks have provided large amounts of financing to Chinese energy companies to enter global energy markets. What is more, China’s two global policy banks, the China Development Bank and the Export–Import Bank of China, now provide as much energy finance to foreign governments as do all the multilateral development banks combined. This paper outlines the extent to which Chinese energy finance has become globalized and examines the state priorities and institutional pathways that drive the globalization of Chinese energy finance.
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| 4 |
ID:
180150
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| Summary/Abstract |
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.
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