CFR Fellows' Book Launch Series: Sovereign Funds: How the Communist Party of China Finances Its Global Ambitions by Zongyuan Zoe Liu
One of the keys to China’s global rise has been its strategy of deploying sovereign wealth on behalf of state power. Since President Xi Jinping took office in 2013, China has doubled down on financial statecraft, making shrewd investments with the sovereign funds it has built up by leveraging its foreign exchange reserves. Sovereign Funds tells the story of how the Communist Party of China became a global financier of surpassing ambition.
In Sovereign Funds, Zongyuan Zoe Liu offers the first in-depth account of the evolution of China’s sovereign funds, and shows how these institutions have become mechanisms not only for transforming low-reward foreign exchange reserves into investment capital but also for power projection.
The CFR Fellows’ Book Launch series highlights new books by CFR fellows.