Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

China and Japan in Pursuit of Infrastructure Investment Leadership in Asia

China and Japan in Pursuit of Infrastructure Investment Leadership in Asia AbstractPowerful states often use tools of economic statecraft, such as foreign aid and other financial policy instruments, in a bid to “purchase” influence as well as establish regional leadership among their neighbors. How and why do these states undertake similar economic statecraft strategies and policies? The article examines the evolution of infrastructure financing policy of China and Japan and identifies the ever changing and, yet at the same time, mirroring interaction between the two countries’ development finance practices. We argue that emulation and competition have led to the process of policy diffusion between these two countries. The competition between these two foreign aid leaders in East Asia especially after China’s Belt and Road Initiative has shaped the region’s infrastructure development dynamics as they strive to move the equilibrium outcome to their advantage. Such equilibrium through the policy diffusion process has important implications on global development governance. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Global Governance: A Review of Multilateralism and International Organizations Brill

China and Japan in Pursuit of Infrastructure Investment Leadership in Asia

Loading next page...
 
/lp/brill/china-and-japan-in-pursuit-of-infrastructure-investment-leadership-in-814xL1KHqn
Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1075-2846
eISSN
1942-6720
DOI
10.1163/19426720-02603003
Publisher site
See Article on Publisher Site

Abstract

AbstractPowerful states often use tools of economic statecraft, such as foreign aid and other financial policy instruments, in a bid to “purchase” influence as well as establish regional leadership among their neighbors. How and why do these states undertake similar economic statecraft strategies and policies? The article examines the evolution of infrastructure financing policy of China and Japan and identifies the ever changing and, yet at the same time, mirroring interaction between the two countries’ development finance practices. We argue that emulation and competition have led to the process of policy diffusion between these two countries. The competition between these two foreign aid leaders in East Asia especially after China’s Belt and Road Initiative has shaped the region’s infrastructure development dynamics as they strive to move the equilibrium outcome to their advantage. Such equilibrium through the policy diffusion process has important implications on global development governance.

Journal

Global Governance: A Review of Multilateralism and International OrganizationsBrill

Published: Sep 17, 2020

There are no references for this article.