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Chinese economic statecraft : a comparative study of China's oil-backed loans in Angola and Brazil

Chinas ökonomische Staatskunst : eine vergleichende Untersuchung von Chinas Kreditvergabe zur Ölförderung in Angola und Brasilien
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Alves, Ana Cristina

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Abstract Africa’s and South America’s rich endowments of resources and great need for infrastructure development make them perfect candidates for China’s “infrastructure-for-resources” loans. Over the past decade, such an arrangement for pursuing China’s resource-security goals overseas – namely, securing long-term supply contracts and accessing exploration rights – has proved more effective in Africa than in South America. This article discusses the reasons for this regional variation by providing a comparative study of China’s economic statecraft in Angola and Brazil, focusing on the deployment of infrastructure-for-oil deals. It argues that the variation in China’s energy-security outcomes (long-term supply and access to oil equity) in Angola and Brazil can be attributed mostly to fundamental differences between the institutional structures of each country’s oil industry. Although this foreign policy instrument has worked well for the centralised structure encountered in Angola, it has been less suitable for the far more liberalised and regulated environment that characterises Brazil’s oil sector.
Keywords China; international relations; international aid; international capital movement; international economic relations; Angola; Brazil; crude oil; energy; energy policy; influence; credit policy; lending; Far East; South America; Latin America; Southern Africa
Classification International Relations, International Politics, Foreign Affairs, Development Policy; Public Finance
Method applied research; descriptive study; empirical; quantitative empirical
Free Keywords institutional framework; infrastructure-for-oil loans
Document language English
Publication Year 2013
Page/Pages p. 99-130
Journal Journal of Current Chinese Affairs, 42 (2013) 1
Issue topic Chinese impacts and impacting China
ISSN 1868-4874
Status Published Version; peer reviewed
Licence Creative Commons - Attribution-Noncommercial-No Derivative Works