3Power Energy Group Inc (PSPW)

[future123]

What does the state do in China’s state-led infrastructure financialisation?

02 may 2022

5. Methodology
We situate the investment of Chinese state capital within the context of flows into Europe where (1) the US–China rivalry has reoriented equity flows towards the capital markets of Western Europe and (2) the Western Balkans, comprising Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia. The Western Balkans is the fastest growing regional market for Chinese construction projects, seeing a 125.5% year on year growth in newly contracted projects in the period 2019–2020 (MOFCOM, 2020a). Importantly, the variegated geographies of Europe highlight the multi-faceted and contingent transformations that constitute China’s state-led infrastructure financialisation. Infrastructure development in the Western Balkans is of direct geo-strategic consequence for the embedding of Chinese production and consumption into regional supply chains leading into Western European markets along the proposed China–Europe Land-Sea Express Route that runs from the Port of Piraeus through the Western Balkans and Central Eastern Europe into the EU (Pavlicevic, 2019; Rogelja, 2020). This infrastructural corridor is complementary to the activities of state-owned intermediaries that, through their centrality in the capital markets of Western Europe, can facilitate the market entry of Chinese firms whose goods can eventually be transported along the Express Route from the east.

Intresting article
https://academic.oup.com/joeg/advance-article/doi/10.1093/jeg/lbac009/6576840