Nicholas Hildyard
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Infrastructure corridoes, frontier finance and the vulnerabilities of capital
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This Chapter seeks to understand the structural forces behind the emergence of infrastructure-as-asset-class and the vulnerabilities of capital that these reveal. It takes a global tour of the massive infrastructure corridors – from the IIRSA programme in Latin America to the 'spatial development initiative’ (SDI) in Africa to China's One Belt, One Road project – that are being planned to enable further economies of scale in the extraction, transportation and production of resources and consumer goods by compressing space by time. The Chapter argues that dominant forms of industrial capital cannot easily expand without massive expenditure on these corridors. But the planners’ plans are bumping up against the frontiers of traditional infrastructure finance. The money simply is not available without tapping a wider pool of finance beyond the state, private banks and multilateral institutions: global capital markets are the target source, Public-Private Partnerships the inducement, and infrastructure-as-asset class the currently-favoured (if often faltering) means of delivery.

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Licensed larceny

Infrastructure, financial extraction and the global South

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