Work

Risks in the financialization of Chinese cities

Year: 2025

Type: article

Abstract: This paper uses an analytical framework named “the political economy of risk” to investigate the financial and political risks in the state-led financialization of Chinese cities. By highlighting the social construction of risks, this paper enriches the understanding of their categories and types, how they simultaneously cause and result from financialization, and how risk distribution and calculation reflect governance and power. The findings show that the Chinese government created or reduced financial risks to manage political risks. Power asymmetry existed between government levels and between the government and private financial intermediaries, affecting the distribution and calculation of risks.

Source: Competition & Change

DOI: 10.1177/10245294251331297

Authors: Zhenfa Li, Fulong Wu, Fangzhu Zhang

Institution: University College London

Language: English

Topic: Housing, Finance, and Neoliberalism

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Peace, justice, and strong institutions, Sustainable cities and communities

Open Access status: hybrid

Estimated APC paid: $3,650