Globalizing Patient Capital: The Political Economy of Chinese Finance in the Americas

China's overseas financing is a distinct form of patient capital that marshals the country's vast domestic resources to create commercial opportunities internationally. Its long-term risk tolerance and lack of policy conditionality has allowed developing economies to sidestep the fiscal austerity tendencies of Western markets and multilaterals. “Globalizing Patient Capital: The Political Economy of Chinese Finance in the Americas,” a new book from Stephen B. Kaplan, finds that China's patient capital endows national governments with more room to maneuver in formulating domestic policies. The book evaluates the potential costs of Chinese financing and raises the question of how Chinese lenders will react to developing nations' ongoing struggles with debt and dependency. “Globalizing Patient Capital” has significant implications for the rise of China in Latin America, offering new insights about globalization and showing the costs and benefits of state versus market approaches to development.

Join us on Thursday, February 17 at 10-11AM ET for a discussion with Stephen B. Kaplan, Associate Professor of Political Science and International Affairs at the George Washington University, on his new book and the political economy of Chinese finance in Latin America. This webinar is part of the Spring 2022 Global Economic Governance Book Talk Series.