Conceptualising private fintech platforms as financial statecraft and recentralisation in China

Liu, Chiu-Wan

doi:10.1080/13563467.2022.2136149

Cited by 3 publications

(1 citation statement)

References 23 publications

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“…Studies in this special issue show how big data is impacting financialization by altering the infrastructures of fringe finance and "finance inclusion," expanding the number of indebted marginalized people, particularly in the Global South (Bernards 2019;Langevin 2019;Singh 2019). In China, financial technology ("Fintech") platforms, or those that use technology, have been granted a central position in the rollout of the digital yuan (Liu 2023).…”

Section: Peril 2: Ai and The Accumulation Of Firm Powermentioning

confidence: 99%

Artificial intelligence: promises, perils—and political economy

Chauhan,

Perera

2024

Fr Polit

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The advent of artificial intelligence introduces significant changes to contemporary society. But are these changes promising or perilous? This essay reviews the political science literature to explore how a comparative political economy lens can help to answer this question. Our findings highlight a growing concern about the perils of AI; however important gaps in the literature remain that, if addressed, could alter or even reverse this presumption. In particular, we highlight the problem of conceptual imprecision. Closer attention to the ways in which AI may be similar or different to other (non-intelligent) technologies could reveal a far more nuanced political economy.

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Section: Peril 2: Ai and The Accumulation Of Firm Powermentioning

confidence: 99%

Artificial intelligence: promises, perils—and political economy

Chauhan,

Perera

2024

Fr Polit

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Digital RMB vs. Dollar Hegemony? Friendly Foes in China-US Currency Competition

Zhang,

Cui,

Campbell-Verduyn

2023

J OF CHIN POLIT SCI

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Digital transformations are impacting inter-state currency politics in strategically important ways. This article contributes to growing debates over the nature of US-China competition as the Chinese RMB rapidly digitizes in ways said to challenge the hegemony of a slower digitizing greenback. We categorize existing views of currency competition in the digital age into two categories: ‘conventional transformation’ and ‘transformative continuity’. Both these presently dominant perspectives, we argue, are overly techno-deterministic and stand in contrast to a third perspective we propose called ‘probabilistic flux’. Emphasizing the unanticipated and error-prone nature of technological change through Social Construction of Technology theory and informed by the IPE of monetary relations, we provide a more nuanced assessment of digital RMB’s challenges to dollar dominance stressing the functions, benefits and powers of international currency hegemony. Our conclusions are three-fold. First, wider digital currency alternatives to both the dollar and RMB have enriched the international currency functions of the former over the latter. Second, this broader array of digital currency alternatives combines with Chinese RMB digitization to gradually erode the functional base and benefits of dollar dominance position, as well as diminish the US’s international monetary power in both Asia and beyond. Third, what we see as largely friendly digital currency competition focused on domestic imperatives currently remains unpredictable. These findings pose present possibilities for greater international cooperation but equally for less friendly competition and flux particularly as US dollar digitization also unfolds in ways that are difficult to anticipate.

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Data and statecraft: why and how states localize data

Han

2024

Bus. Polit.

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This paper explores the motives and mechanisms behind data localization implemented by states to protect data, which is essential to emerging technologies such as Artificial Intelligence. Despite the significant negative aspects of data localization for states, the practice has become increasingly prevalent, leading to the unexplored question of why states choose to implement it. This suggests that data localization is a form of economic means derived from digital technologies and employed by states to serve political objectives. Focusing on the data in platforms, the theoretical mechanism of data localization is captured in light of two factors: network perception and security externality. Network perception pertains to a state’s perception of the positive network effect generated by platforms, while security externality refers to a state’s consideration of the security implications in relation to the economic benefits derived from the positive network effect, serving the national interest in domestic and/or international contexts. To substantiate these theoretical propositions, the paper employs a comparative case study approach where Vietnam, Singapore, and Indonesia have been chosen as empirical cases based on the selection strategy. The paper bridges the concept of economic statecraft with digital technologies, fosters interdisciplinary discussions, and offers policy implications.

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Conceptualising private fintech platforms as financial statecraft and recentralisation in China

Cited by 3 publications

References 23 publications

Artificial intelligence: promises, perils—and political economy

Artificial intelligence: promises, perils—and political economy

Digital RMB vs. Dollar Hegemony? Friendly Foes in China-US Currency Competition

Data and statecraft: why and how states localize data

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