Ngai-Ling Sum and Bob Jessop
Economics, Politics and Settlement
This entry locates the production of China’s new trans-regional scale of One Belt One Road (OBOR) in the aftermath of the 2008 financial crisis. In response to falling exports and unemployment, the Chinese leadership launched a four trillion Renminbi stimulus package which intensified its property, infrastructure and, later, the financial asset bubbles between 2010 and 2015. This crisis-pronged period coincided with the transfer of leadership and in anticipation of falling growth rate, it promotes a new trans-regional imaginary of OBOR with the hope of displacing its excess capacities abroad. The entry examines these changes via a discursive-material approach. First, it examines the discursive production of this new scale via the construction and negotiation of geoeconomic and geopolitical tropes. Second, it examines how this body of knowledge contributes towards the making of two inter-related governance configurations which form the bases for an emerging but contradictory infrastructural–infocommunication–finance complex in the shadow of global capitalism.