Leveraging Money and Politics: The Rise of China’s Sovereign 'Leveraged' Funds and China’s Financial Statecraft
Both China and Japan are the world’s two largest foreign exchange reserves holders, but why has China used its foreign exchange reserves to establish not only one but several sovereign wealth funds, whereas Japan has refused to do so? Moreover, the world’s leading sovereign wealth funds are mostly established in commodity-exporting countries for stabilization or savings purposes, what does China, a major commodity importer, establish and use its sovereign wealth funds for?