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Beyond DebtIslamic Experiments in Global Finance$
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Daromir Rudnyckyj

Print publication date: 2018

Print ISBN-13: 9780226551920

Published to Chicago Scholarship Online: May 2019

DOI: 10.7208/chicago/9780226552118.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 21 August 2019

An Emergent Geoeconomics

An Emergent Geoeconomics

Chapter:
(p.214) Conclusion An Emergent Geoeconomics
Source:
Beyond Debt
Author(s):

Daromir Rudnyckyj

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226552118.003.0010

This chapter argues that Malaysia's Islamic finance project seeks to create a new geoeconomics by remaking the map of global finance. In decentering the global financial system from its focus on New York, London, and Hong Kong, planners and experts in Malaysia seek to position Kuala Lumpur between the world's greatest source of surplus capital (the Arabian peninsula's petroleum wealth) and its foremost site of industrial production (East Asia). The chapter shows how efforts to reform the practices of Islamic finance in Malaysia to make it more appealing to Arabs is a key means by which planners and experts plan to achieve this ambitious goal. The chapter argues that the value of anthropological study of phenomena such as Islamic finance is to make the familiar strange and show how alternative approaches and practices outside the West may hold possible answers to some of the West's most pressing problems. The chapter concludes that Islamic finance is a practical anthropology insofar as it demands that we question the unstated assumptions of our financial organization.

Keywords:   geoeconomics, reflexivity, debt, reform, alternative finance, economic anthropology

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