Student Perspectives on Modern China

In Fall 2019, Professor Cary Krosinsky, our advisor, approached 12 Brown University students to contribute to his recent book, Modern China: Financial Cooperation for Solving Sustainability Challenges. Our co-president Jackson Barkstrom ‘21 was a contributor. Excluding Jackson, we asked the other 11 students to share some of their experiences with the project as well as their interests in China and sustainability. 

We asked each student this question: “Why were you interested in working on Modern China, what were the big takeaways of the project for you, and how (if at all) might you develop future interests in China and sustainability?”

Devyn Collado-Nicol ‘20, Environment and Enterprise:

The roots of my interest in contributing to this book are two-pronged. First, climate change will likely be the biggest existential threat we face this generation. It is an issue that is manifestly global, and therefore will require a strategic global solution. Second, the United States has been, and China will likely be, the largest emitter of Greenhouse Gases, and therefore carry a bulk of the responsibility. Moreover, the two nations are considered global leaders, and are in excellent positions to catalyze systemic change towards a low-carbon future—it all hinges on whether or not they can work together.

The biggest takeaway of this work for me is how valuable it is to have a long term perspective, and how difficult it is to maintain this perspective. Many of the global challenges we face have a distant time horizon, and can get easily lost in the complexities of shorter term international (or even national) politics. It's a reminder that there is a lot of work that has yet to be done, and we need to keep our eye on the prize if we are to see any real change on a global scale. This body of work for me is only the tip of the iceberg, and I see myself staying rather involved in this conversation for the foreseeable future.

Lucia Winton ‘21, Economics, Public Policy:

I have long been fascinated and inspired by the prospect of using capital and financial markets—and the private sector more broadly—to assist in bettering the world. After taking Cary's class in Sustainable Investing at Brown, I hoped to learn more about the increasingly prevalent initiatives to blend profit and purpose, and also how global policies and relationships can affect the sustainable finance landscape on a macro scale. Due to the urgent need for a worldwide green transition, tools like sustainable investing and green finance become both more promising and also more crucial. Working on this project highlighted the need for cooperation in order to effectively implement these tools on a global scale. The book shows how the U.S.-China relationship is complex and nuanced, and that finding a way to navigate this complexity is necessary to finance the global green transition. It also taught me the importance of being a student of history, especially when it comes to China; understanding the country's 5,000 year history is critical to understanding its role in the future of sustainable finance.

Miranda McDermott ‘20, International Relations and Affairs:

I should first note that my work on the book only dealt with historical background, not on any sustainable finance issues. I was interested in working on the book because I wanted to devote my time outside of class to researching China-related issues. I wasn’t able to take many classes that focused on Chinese history (besides language classes) and, wanting to work in/with China in the future, I thought that this would be an ideal opportunity to expand my knowledge of Chinese history. While I was not initially inclined towards sustainable finance, working on the book has certainly put it on my radar. Since then I have acquired a research opportunity with a Beijing green finance institute this summer! It’s been really cool to combine my interests in world affairs with China’s growing global presence through its financial investments. 

Editor’s note: Miranda will be working at the International Institute of Green Finance as a Yenching Academy Fellow.

Alex Rafatjoo ‘20, East Asian Studies, Economics:

For me, the opportunity to work on this book was the perfect marriage between my interests in both China and sustainability. I am an East Asian Studies major at Brown and have spent much time learning about China, its history, and its culture. In addition, I am an analyst in power and renewables investment banking working to try and understand what drives the finances of firms in that industry. Modern China was an opportunity for me to not only collaborate with a group of individuals who are knowledgeable and passionate about making a change, but also to learn from them in the context of a book that exists in the intersection of my academic and professional pursuits. This book has solidified my belief that, in order to help combat climate change, the world’s hegemonic powers must collaborate productively. Furthermore, I believe that there is also an important role for the immense amounts of private investment capital to play in this existential challenge, and that is where I hope my career will take me.

Mae Fullerton ‘20, Behavioral Decision Sciences, Economics:

I was interested in contributing to the book because the United States and China make up the most important bilateral trade partnership in the world, and getting both governments on board with making financial markets greener will be the first step to making the private sector more sustainable globally. By describing a handful of the most important changes throughout the twentieth century, my portion of the book served to give readers who are unfamiliar with China an appreciation for the amount of struggle and transformation the country has experienced since the fall of the last Qing Dynasty. 

While it's not clear yet how I will be involved with U.S.-Sino relations after my time at Brown, I know I will apply what I've learned from working on the book, conducting my own research, and leading Brown China Summit to my work in the future.

Ellie Papapanou ‘22, International Relations:

l study international relations on the political economy track, and have grown interested in sustainable development and the intersection between international relations, environmental issues, and economics. I got involved with the book after taking Cary’s Sustainable Investing class last spring; I love writing, and thought it would be a great way to explore these topics in a focused and hands-on way. I also knew very little about Chinese environmental economic policy, and was eager to learn more. 

Being involved in this project was super valuable—I had just finished up my freshman year, so I had pretty limited experience researching and writing for a piece like this. I really appreciated the freedom I was given to write basically whatever I felt was relevant on the topic. Cary is also extremely supportive, and that was very special—it was definitely a learning experience to grow comfortable working with material I was not well versed in, and he was very enthusiastic and responsive whenever I reached out asking for help or for him to put me in contact with someone to learn more about a certain policy. I got to edit a few of the other chapters with him as well, and it was really meaningful to see the book take shape and evolve as it did. In general, it was very special to be a part of something so collaborative and relevant, and it means a lot to me (and I’m sure to all of us) that Cary was so enthusiastic that we get involved and contribute. 

Not sure to what capacity I’ll be involved in China and sustainability in the future (no solid plans as of now), but I can imagine that as someone interested in sustainable development, this work will only grow more and more relevant. Cary has also helped connect me to another opportunity that is somewhat related—I’m currently working with a climate change technology newsletter (link here if you’d like to check it out!), so we'll see where that goes... It has been really interesting to explore the space so far.

Annie Phan ‘20, Economics, Development Studies:

I was interested in working on the book Modern China because it represented an opportunity for me to both expand my perceptions and help others expand their perceptions on the issue of how corporate sustainability impacts social and economic development globally. Coming from Asia (Vietnam) then studying in the U.S, I am deeply interested in the interaction between the West and the East in facing global conflicts and combating these changes in a rapidly evolving world. Through having the chance to research the financial, economy, and political landscape in America and China for my writings on large Chinese tech and private equity firms, I was able to uncover how these global economic giants both contribute to and further complicate global sustainable finance and technological progress. Through the experience, I learned about the dynamics behind major economic events such as the US-China trade war, the tech boom in Asia, and the rise of sustainable investment funds globally. This knowledge helped me see that there is always more than one layer of explanation for any positive or negative event, and that by understanding the roots behind problems, I can better find ways for myself and others to contribute to solving current social issues. In the future, I hope to contribute to sustainability in South East Asia, a major hub for Chinese FDI and sociopolitical connection, through leveraging my experiences in digital transformation, economic development, and educational empowerment to improve local socioeconomic conditions in my home continent so that it is better equipped to receive and fully maximize FDI. I hope to assist corporations in leveraging their financial and technical assets to improve their internal sustainability, thereby maximizing their growth in a way that benefits society across economic, social, and environmental measures. Furthermore, I hope to work on easing social, economic, and environmental conflicts between China, the West, and Southeast Asia through cooperating with like-minded individuals and organizations to facilitate resource transfer and open discussions that gravitate large corporations and government towards progress.

Kara Huang ‘20, Economics:

Cary's project on sustainability in China presented the opportunity to firsthand interview and converse with leaders who have years and years of experience. Sustainable investing is a topic I had only studied in Cary's class, and so learning and writing about it so intimately with two wildly successful investment managers was engaging and rewarding. The biggest takeaway from this project was the impression that the sustainable investing field, though it has matured quite a bit, is not done transforming and changing. This experience has broadened my worldview about the opportunities for innovation and development in this field, especially when it comes to sustainable investing's usefulness in developing countries. I start soon as an analyst at a fixed income asset manager and definitely looking forward to integrating these two worlds—fixed income and sustainability—perhaps raising my hand as we start to develop our own green and sustainability-linked bond products.

Sebastian Sheng MS ‘20, Innovation Management and Entrepreneurship:

A will to act on the preconceived notion of China's stance towards sustainability and reconcile differences is what prompted me to take interest in sharing in the book. That's always the first step in creating a unified front of actions, which is particularly true when addressing environmental and societal challenges—we are all in this together. In my understanding, the book is not meant to provide a unilateral opinion towards China and sustainability, whether good or bad; instead it serves to drive thoughts, discussions and initiatives in shaping a more sustainable future for all.

Jimena Terrazas Lozano ‘19, Environmental Science:

I decided to major in environmental science right after visiting China in 2015. I was astounded at the negative environmental impacts that their economic growth had caused. However, I was also inspired by the efforts that China was making to promote more sustainable and responsible ways of strengthening their economy. While attending Brown, I took several economic courses and learned Mandarin, hoping to work in China after graduation. When I heard that Cary was writing a book on sustainable investments in China, I knew I had to be a part of it. As an international student, I was interested in exploring how Chinese foreign direct investments have shaped sustainable investments in the developing world. In my chapter, I discuss China’s participation in the Belt and Road Initiative, as well as the CLASII (China-Latin America Sustainable Investments Initiative). Writing this chapter allowed me to understand the future of green finance and how it can be used as a tool to promote international cooperation and sustainable development. I was also excited to read the whole book, as it strengthened my interest in China’s economy and sustainability strategies. While it is obvious that many things will change after this unprecedented year, I believe green finance will continue to grow and I am excited to be a part of it.

Nimish Garg ‘22, Applied Mathematics-Computer Science, Economics:

I undertook this project after having taken Cary's Sustainable Investing Class at Brown, hoping to apply my learnings to a real world scenario. As I undertook my work, I noticed not only how much China has already done to boost its ecological footprint, but how much more it could influence the entire world if it worked together with the U.S. Ultimately, I hope to continue learning about the development in sustainability in China, and seeing how it can lead the rest of the world to a greener future.

Interviewer: Jackson Barkstrom