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Article: Financializing Chinese cities: state–capital nexus and the uneven geography of housing speculation

TitleFinancializing Chinese cities: state–capital nexus and the uneven geography of housing speculation
Authors
Keywordsurbanization
political economy
land and housing markets
financialization
Chinese cities
Issue Date2019
PublisherRoutledge. The Journal's web site is located at http://www.tandfonline.com/loi/rard20#.VfsAskaFOnI
Citation
Area Development and Policy, 2019, v. 4 n. 4, p. 435-453 How to Cite?
AbstractCurrent enquiries into the transformation of cities from ‘growth’ to ‘debt machines’ are largely based on studies of selected European and American cities where municipal governments temporally repackaged and rescheduled current fiscal problems by selling off city futures. This study of a recent episode of housing speculation in urban China identifies a distinctive trajectory in which the state has reshuffled financial resources sectorally and spatially. A misallocation of resources into the real estate sector and into a few top-tier cities fuelled a speculative housing market in a context of slowing economic growth. In contrast to external and horizontal public–private partnerships in American cities, coalitions of speculative urbanism in China involved vertical and hierarchical relationships internal to state power. This research calls for a broadened theoretical attention to the changing and variegated nature of the interrelationships between state, capital and space.
Persistent Identifierhttp://hdl.handle.net/10722/294179
ISSN
2023 Impact Factor: 1.8
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorLin, GCS-
dc.contributor.authorSmart, A-
dc.contributor.authorLi, X-
dc.contributor.authorHu, FZY-
dc.date.accessioned2020-11-23T08:27:30Z-
dc.date.available2020-11-23T08:27:30Z-
dc.date.issued2019-
dc.identifier.citationArea Development and Policy, 2019, v. 4 n. 4, p. 435-453-
dc.identifier.issn2379-2949-
dc.identifier.urihttp://hdl.handle.net/10722/294179-
dc.description.abstractCurrent enquiries into the transformation of cities from ‘growth’ to ‘debt machines’ are largely based on studies of selected European and American cities where municipal governments temporally repackaged and rescheduled current fiscal problems by selling off city futures. This study of a recent episode of housing speculation in urban China identifies a distinctive trajectory in which the state has reshuffled financial resources sectorally and spatially. A misallocation of resources into the real estate sector and into a few top-tier cities fuelled a speculative housing market in a context of slowing economic growth. In contrast to external and horizontal public–private partnerships in American cities, coalitions of speculative urbanism in China involved vertical and hierarchical relationships internal to state power. This research calls for a broadened theoretical attention to the changing and variegated nature of the interrelationships between state, capital and space.-
dc.languageeng-
dc.publisherRoutledge. The Journal's web site is located at http://www.tandfonline.com/loi/rard20#.VfsAskaFOnI-
dc.relation.ispartofArea Development and Policy-
dc.rightsPreprint: This is an Author's Original Manuscript of an article published by Taylor & Francis Group in [JOURNAL TITLE] on [date of publication], available online: http://www.tandfonline.com/doi/abs/[Article DOI]. Postprint: This is an Accepted Manuscript of an article published by Taylor & Francis Group in [JOURNAL TITLE] on [date of publication], available online at: http://www.tandfonline.com/doi/abs/[Article DOI].-
dc.subjecturbanization-
dc.subjectpolitical economy-
dc.subjectland and housing markets-
dc.subjectfinancialization-
dc.subjectChinese cities-
dc.titleFinancializing Chinese cities: state–capital nexus and the uneven geography of housing speculation-
dc.typeArticle-
dc.identifier.emailLin, GCS: gcslin@hku.hk-
dc.identifier.authorityLin, GCS=rp00609-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1080/23792949.2019.1625277-
dc.identifier.scopuseid_2-s2.0-85074274817-
dc.identifier.hkuros319366-
dc.identifier.volume4-
dc.identifier.issue4-
dc.identifier.spage435-
dc.identifier.epage453-
dc.identifier.isiWOS:000474996500001-
dc.publisher.placeUnited Kingdom-
dc.identifier.issnl2379-2949-

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