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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
ZHOU Yiwen, NIU Xinyi, NI Xintong, XU Yue
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DOI:10.17265/2328-2134/2023.04.002
University of Shanghai for Science and Technology, Shanghai, China
The United States passed the Better Utilization of Investment Leading to Development (BUILD Act), as a counterweight to China’s overseas development activities. Under the Act, the US established a new federal agency, the U.S. International Development Finance Corporation (DFC), to enhance U.S. development financing capabilities. To better understand the impact of the DFC on China’s development finance, this article analyzes the DFC’s purpose, functions, structure, and funding. Then it focuses on the purpose of establishing the DFC, providing a preliminary analysis of the potential motivation for its establishment. It also compares the China Development Bank (CDB) and the DFC based on their focused sectors. Finally, through an in-depth analysis of financial frictions in China-U.S. relations, this article argues that the DFC competes with China’s overseas development financing activities in the context of broader strategic competition between China and the U.S.
U.S. International Development Finance Corporation, China Development Bank, China’s development finance, the Belt and Road Initiative (BRI), U.S.-China relations
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