Conclusion

Abstract

This chapter distills the central message, discusses its practical and theoretical implications, and delineates a future research agenda. The central message of the book is that China’s globalization of its development finance for energy through its twin policy banks is integral to its national drive toward modernization . Practically, while China’s global energy finance contributes to energy poverty alleviation and energy security improvement in recipient countries, its overwhelming majority has flown into fossil fuels, thus raising complications about China’s role in global governance on climate change and development finance. Theoretically, the book’s main findings call into doubt the power-based, ideology-based, and geopolitics-based theories about the country’s global economic expansion at the beginning of the twenty-first century. Understanding the policy banks’ effectiveness in promoting the Chinese state’s agenda abroad and assessing the local and global impacts of the country’s energy finance, especially in a comparative manner, represent the agenda for future scholars.