China has developed sophisticated hedging strategies to insure against risks in the international petroleum market. It has managed a growing net oil import gap and supply disruptions by maintaining a favorable energy mix, pursuing overseas equity oil production, building a state-owned tanker fleet and strategic petroleum reserve, establishing cross-border pipelines, and diversifying its energy resources and routes. Though it cannot be "secured," China's energy security can be "insured" by marrying government concern with commercial initiatives. This book comprehensively analyzes China's domestic, global, maritime, and continental petroleum strategies and policies, establishing a new theoretical framework that captures the interrelationship between security and profit. Arguing that hedging is central to China's energy-security policy, this volume links government concerns about security of supply to energy companies' search for profits, and by drawing important distinctions between threats and risks, peacetime and wartime contingencies, and pipeline and seaborne energy-supply routes, the study shifts scholarly focus away from securing and toward insuring an adequate oil supply and from controlling toward managing any disruptions to the sea lines of communication. The book is the most detailed and accurate look to date at how China has hedged its energy bets and how its behavior fits a hedging pattern.

China’s recent climate-energy policy, an outcome of contemporary challenges, has generated conflict of interest amongst major stakeholders. Coupled with a boost in demand for oil, gas and coal, as well as a rapid growth in wind and solar power, it has not only affected domestic fossil fuel and renewable energy providers, but has also provoked a resource boom, affecting development pathways internationally. This book therefore seeks to examine the economic, social and ecological effects associated with China’s climate-energy policy. Assessing how the policy has been and will be formulated and implemented, it analyses the changing use of energy, CO2 emissions and GDP, as well as social and environmental impacts both domestically and internationally. It presents in-depth case studies on specific policies in China and on its resource exporting countries, such as Indonesia, Australia, Myanmar and Mongolia. At the same time, using quantitative data, it provides detailed input-output and applied computable general equilibrium analyses. Arguing that China has actively advanced its climate-energy policy to become a leader of global climate governance, it demonstrates that China ultimately relocates the cost of its climate-energy policy to resource exporting countries. This book will be of great interest to students and scholars of energy, the environment and sustainability, as well as Chinese Studies and economics.

Should Chinese energy investments be excluded from the liberal economic system based on geopolitical assessments only? This book explores the potential regulatory control by the Chinese government over foreign energy investments to achieve their perceived strategic objectives. Host states in which Chinese energy companies make investments have increasingly opposed Chinese energy investments in their national security reviews, based on concerns that these investments have strategic objectives. The book analyses China's investment-related law, regulations, and energy policies to examine how overseas energy investment-making is governed. The book also explores the role of the Chinese government in energy investment promotion and protection. Uniquely, the examination of China's potential regulatory control provides an objective criterion, rather than geopolitical considerations, for host states to assess the nature of Chinese energy investments. The book helps readers to open the 'black box' of Chinese energy investments from a regulatory perspective. It is a useful resource for researchers as well as practising lawyers assisting their Chinese clients through national security reviews, or when trying to determine whether China's SOEs can bring cases before investor-state arbitration tribunals.

This book explores China’s approach to the nuclear programs in Pakistan, Iran, and North Korea. A major power with access to nuclear technology, China has a significant impact on international nuclear weapons proliferation, but its attitude towards the spread of the bomb has been inconsistent. China’s mixed record raises a broader question: why, when and how do states support potential nuclear proliferators? This book develops a framework for analyzing such questions, by putting forth three factors that are likely to determine a state’s policy: (1) the risk of changes in the nuclear status or military doctrines of competitors; (2) the recipient’s status and strategic value; and (3) the extent of pressure from third parties to halt nuclear assistance. It then demonstrates how these factors help explain China’s policies towards Pakistan, Iran, and North Korea. Overall, the book finds that China has been a selective and strategic supporter of nuclear proliferators. While nuclear proliferation is a security challenge to China in some settings, in others, it wants to help its friends build the bomb. This book will be of much interest to students of international security, nuclear proliferation, Chinese foreign policy and International Relations in general.

In this multi-disciplinary and multi-sited volume, the authors challenge reductionist and oversimplifying approaches to understanding China's engagement with Southeast Asia. Productively viewing these interactions through a "e;resource lens"e;, the editor has transcended disciplinary and area studies divides in order to assemble a dynamic and diverse group of scholars with extensive experience across Southeast Asia and in China, all while bringing together perspectives from resource economics, policy analysis, international relations, human geography, political ecology, history, sociology and anthropology. The result is an important collection that not only offers empirically detailed studies of Chinese energy and resource investments in Southeast Asia, but which attends to the complex and often ambivalent ways in which such investments have become both a source of anxiety and aspiration for different stakeholders in the region.

This edited volume examines the competitive dynamics of two order-building projects in the Indo-Pacific, namely China’s Belt and Road Initiative (BRI) and the US-led Free and Open Indo-Pacific (FOIP). Foci are on how far the two major powers are able to use institutional projects to (re)order the region of the Indo-Pacific to suit their policy preferences, and on how regional powers perceive and navigate between the two ordering projects. This book discusses a wide array of actors in the Indo-Pacific, covering the two major powers of China and the United States, middle powers of Australia and New Zealand, India, Japan, South Korea and Taiwan, and institutional actors of ASEAN, AUKUS, the Quad and the Pacific Islands Forum. Drawing on the concept of international order, the chapters examine the actor-specific foreign policies in relation to the rivalry between the FOIP and the BRI. This accessible book will be a go-to resource for anyone looking for how the two great powers garner legitimacy and followership for their own version of ordering project, and how regional powers respond to the dynamic competition and navigate between China and the United States, and between the forces of liberal democracy and autocracy.

An exploration of the transformations of contemporary China, firmly grounded in both disciplinary and China-specific contexts.

This book examines the processes, evolution and consequences of China’s rapid integration into the global economy. Through analyses of Beijing’s international economic engagement in areas such as trade, investment, finance, sustainable development and global economic governance, it highlights the forces shaping China’s increasingly prominent role in the global economic arena. Chapters explore China’s behavior in global economic governance, the interests and motivations underlying China’s international economic initiatives and the influence of politics, including both domestic politics and foreign relations, on the country’s global economic footprint.

For close to sixty years, the United States has maintained alliances with Japan and South Korea that have included a nuclear umbrella, guaranteeing their security as part of a strategy of extended deterrence. Yet questions about the credibility of deterrence commitments have always been an issue, especially when nuclear weapons are concerned. Would the United States truly be willing to use these weapons to defend an ally? In this book, Terence Roehrig provides a detailed and comprehensive look at the nuclear umbrella in northeast Asia in the broader context of deterrence theory and U.S. strategy. He examines the role of the nuclear umbrella in Japanese and South Korean defense planning and security calculations, including the likelihood that either will develop its own nuclear weapons. Roehrig argues that the nuclear umbrella is most important as a political signal demonstrating commitment to the defense of allies and as a tool to prevent further nuclear proliferation in the region. While the role of the nuclear umbrella is often discussed in military terms, this book provides an important glimpse into the political dimensions of the nuclear security guarantee. As the security environment in East Asia changes with the growth of North Korea's capabilities and China's military modernization, as well as Donald Trump's early pronouncements that cast doubt on traditional commitments to allies, the credibility and resolve of U.S. alliances will take on renewed importance for the region and the world.

Whilst China’s growing economy is widely regarded as being responsible for severe environmental degradation and a high reliance on energy from fossil fuels, China is emerging as a potential leader in new green energy technologies. Outlining the extraordinary growth in China’s wind power capacity since 2005, this book explores the deliberate creation of a whole industry and the strategy of transitioning the power sector to renewable energy by accelerated experimentation and through literally pushing the emerging wind power sector to its limits. Investigating how wind power may not always be considered as sustainable in a wider Chinese developmental context, the book traces the struggle China has had in getting this high technology sector to qualify as truly Chinese scientific development, whilst often being opaquely at the mercy of foreign expertise, technology, and certification. The book furthermore exposes the surprising nuances, dynamics, and potency of unexpected players in Chinese wind power marketisation. Complex interplays are revealed between wind turbine control systems, algorithms in critical software technology, relationships between suppliers, wind farm developers, financiers, the electrical grid itself, the coal lobby, the broader Chinese state, and much more. The book has important implications far beyond wind power and contemporary China studies, highlighting the much wider story of China’s fragmented and experimental style of innovating, upgrading, and greening.