In China's Wake: How the Commodity Boom Transformed Development Strategies in the Global South

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Nicholas Jepson

In China's Wake

How the Commodity Boom Transformed Development Strategies in the Global South

Nicholas Jepson

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English

Columbia University Press
07 January 2020

Economic growth; International economics; Development economics; Commodities

In the early 2000s, Chinese demand for imported commodities ballooned as the country continued its breakneck economic growth. Simultaneously, global markets in metals and fuels experienced a boom of unprecedented extent and duration. Meanwhile, resource-rich states in the Global South from Argentina to Angola began to advance a range of new development strategies, breaking away from the economic orthodoxies to which they had long appeared tied.

In China's Wake reveals the surprising connections among these three phenomena. Nicholas Jepson shows how Chinese demand not only transformed commodity markets but also provided resource-rich states with the financial leeway to set their own policy agendas, insulated from the constraints and pressures of capital markets and multilateral creditors such as the International Monetary Fund. He combines analysis of China-led structural change with fine-grained detail on how the boom played out across fifteen different resource-rich countries. Jepson identifies five types of response to boom conditions among resource exporters, each one corresponding to a particular pattern of domestic social and political dynamics. Three of these represent fundamental breaks with dominant liberal orthodoxy-and would have been infeasible without spiraling Chinese demand. Jepson also examines the end of the boom and its consequences, as well as the possible implications of future China-driven upheavals. Combining a novel theoretical approach with detailed empirical analysis at national and global scales, In China's Wake is an important contribution to global political economy and international development studies.

By: Nicholas Jepson
Imprint: Columbia University Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm,
ISBN: 9780231187961
ISBN 10: 0231187963
Pages: 376
Publication Date: 07 January 2020
Audience: Professional and scholarly , College/higher education , Undergraduate , Further / Higher Education
Format: Hardback
Publisher's Status: Active

Nicholas Jepson is Hallsworth Research Fellow in Chinese political economy at the University of Manchester’s Global Development Institute.

Reviews for In China's Wake: How the Commodity Boom Transformed Development Strategies in the Global South

Among the excellent books that explore the consequences of China's externalization for the global South, In China's Wake is perhaps the best of them. Theoretically robust and empirically rich, it engages with the implications of China-driven shifts in global market conditions for the development trajectories of fifteen countries across four world-regions. This is a pathbreaking and stunningly original contribution that substantially advances our understanding of China's relation to global transformation. -- Jeffrey Henderson, professor emeritus of international development, University of Bristol In China's Wake is a bold and thorough piece of research in the tradition of `big picture' global political economy. Steered by a theoretical framework, it weaves together China's soaring demand for commodities, the boom in global markets for metals, fuels and agricultural products, and development trajectories in resource-rich economies. The result is a fascinating contribution to development studies. -- Robert H. Wade, London School of Economics and Political Science

Commended for BISA-IPEG Book Prize, British International Studies Association - International Political Economy Group 2021
Commended for BISA-IPEG Book Prize, British International Studies Association - International Political Economy Group 2022