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Co-evolutionary decoupling in EMNEs’ internationalisation: A Chinese bank's journey of drifting apart from the US-led global financial system

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  • Hou, Rui
  • Rui, Huaichuan

Abstract

We develop a co-evolutionary decoupling model to explain the decoupling process and its contributors, based on a Chinese bank's dynamic interdependency with the US-led global financial system. This decoupling is the joint outcome of the firm's strategic adaptations in response to economic, institutional, and geopolitical environmental challenges. By incorporating co-evolution and international relations perspectives into international business research, we reveal how and when non-economic environmental factors can decisively hinder a firm's, especially an EMNE's, internationalisation. This study provides new firm-level evidence on the ongoing Sino-US decoupling process, extending our understanding of international business through co-evolution and international relations perspectives.

Suggested Citation

  • Hou, Rui & Rui, Huaichuan, 2025. "Co-evolutionary decoupling in EMNEs’ internationalisation: A Chinese bank's journey of drifting apart from the US-led global financial system," Journal of World Business, Elsevier, vol. 60(1).
    • Handle: RePEc:eee:worbus:v:60:y:2025:i:1:s1090951624000762
    DOI: 10.1016/j.jwb.2024.101596
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