Wang Yiming, Wu Jiang, Zhou Minghao

Keywords： Urban Regeneration; Local Economy; Neoliberalism; Capital Accumulation; Globalisation Crisis; Built Environment

Abstract：

In the process of globalisation, urban regeneration has long been seen as playing an active role in promoting local economy. However, in recent years, the capital globalisation process slows down significantly and sinks into a crisis. As a result, the crisis of globalisation changes the relationship between urban regeneration and local economy. Against this backdrop, many western scholars begin to doubt urban regeneration’s role in promoting local economy. Starting from an outline of the current debate around the role urban regeneration plays in local economy, this paper analyses the transformation of urban regeneration in the context of globalisation crisis, discusses the political economic reasons behind the transformation. It argues that the lobalisation crisis vastly changes the value and judging criteria of urban regeneration. Whether it can remake the city image or promote land value is no longer the key criterion of the success of an urban regeneration project. Urban regeneration plays a much more complicated role in local economic and social development in the crisis of globalisation. On this basis, this paper provides suggestions on how urban regeneration can be better understood and governed in China in the crisis.

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