Institute of International Management and Entrepreneurship (IIME) Speaker Series
The Institute of International Management and Entrepreneurship hosts monthly speaker series, featuring experts from leading institutions across the UK and around the world. Each session explores a diverse range of timely and critical topics exploring how global economic, social, and institutional forces shape entrepreneurial practices and organizational dynamics across different cultural and structural contexts.
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“Wall Street, China, and the Remaking of Global Capitalism”
In this talk, Dr. Petry will present insights from his book project, which explores the evolving entanglement between Wall Street and China’s financial system over the past three decades. Challenging conventional portrayals of liberal capitalism, the book demonstrates how Wall Street significantly adapted its practices in pursuit of profit in China, becoming both an instrument and a beneficiary of the Chinese party-state’s integration into global capitalism.
The analysis conceptualizes Wall Street as a transnational assemblage of institutions, practices, and logics, and investigates this engagement across three key financial domains: corporate banking, investment banking, and asset management. In each sector, Dr. Petry identifies how Wall Street contributed to the development of China’s financial infrastructure, captured transnational profit opportunities, and facilitated China’s transformation into a global economic power. Drawing on 90 interviews with financial professionals in Hong Kong, Shanghai, and Beijing, the book historicizes this entanglement and concludes with an assessment of the post-2020 geopolitical shift and its impact on U.S.–China financial interdependence.
By offering a relational account of financial globalization, the talk contributes to broader debates on global finance, China’s economic development, and the politics of state-market configurations.
Speaker
Johannes Petry is the Principal Investigator of the StateCapFinance research project at Goethe University Frankfurt. He is a political economist specializing in the dynamics of financial globalization, with particular focus on the internationalization of China’s financial system. His research also addresses the politics of financial infrastructures, the rise of the BRICS and East Asia in global finance, and how geopolitical tensions are reshaping the international economic order.
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