New financial geographies of Asia

Abstract

This special issue examines the recent trends and impacts of financial development in Asia and its implications for regional studies in this rapidly growing region. This editorial introduces the dynamics of the financial landscape in Asia and its growing influence in global finance. Overall, the papers in this special issue highlight the important roles of both the local institutional contexts and global capital markets in shaping new financial geographies in Asia. The conclusion offers some critical reflection on 'Asia' as a working category in examining financial networks and practices, and identifies some key research strands for understanding future financial development in Asia.

Financing the Belt and Road Initiative (BRI): research agendas beyond the “debt-trap” discourse

“…The four papers that follow were first presented in mid-September 2019, at the first Global Conference of the Global Network on Financial Geography (FinGeo) held at Beijing Normal University. The conference session thereby brought together our research interests on the genealogy and representation of BRI (Lin et al 2019;Sidaway and Woon 2017) and new financial geographies of Asian economies and financial centres (Lai 2011;2012;Lai et al 2020). To understand the dynamic and variegated landscapes of global finance, it is insufficient to focus on economic factors or cultural explanations; geopolitical interests are also vital in shaping the creation of new markets and financial flows.…”

Rethinking regions in turbulent times

“…Throughout the year, the 2020 volume will also feature more special issues on key topics, including the new financial geographies of Asia (Lai, Pan, Sokol, & Wójcik, 2019); mobility, housing and the labour market; the competitive advantage of regions; decentralization after the Great Recession; and smart specializationso watch this space! SUPPORTING REGIONAL STUDIES Regional Studies is in good health, with an increasing number of submissions, a large number of papers and pages published in each volume, and a strong impact factor.…”

Triggers and Obstacles to the Development of the FinTech Sector in Poland

“…The report titled "New Financial Geographies of Asia" of Lai et al (2020) shows that while the capital markets in Asia are fast-growing, the Western banks experience serious problems in the region. Asian investment banks have gained more importance not only on the continent but also globally.…”

“…So far, Hong Kong, Singapore, and Tokyo have been considered well-established international financial centers. The rise of financial centers in China suggests that the global financial landscape may be significantly re-designed in the nearest future (Lai et al 2020).…”

“…When compared to the Western economies, it is characterized by higher speed of digitalization and a quicker adoption of financial innovations (GlobalData 2017). On the similar basis as the Asian tigers (Lai et al 2020), the development of the FinTech sector seems to be not limited by the traditional perception of the financial system.…”