Chinese economic statecraft and China's oil development finance in Brazil

Barbosa, Pedro Henrique Batista

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%T Chinese economic statecraft and China's oil development finance in Brazil
%A Barbosa, Pedro Henrique Batista
%J Journal of Current Chinese Affairs
%N 3
%P 366-390
%V 50
%D 2021
%K Internationale Anleihen; Wechselbeziehungen Außenpolitik - Außenwirtschaftspolitik
%@ 1868-4874
%~ GIGA
%U https://journals.sagepub.com/doi/pdf/10.1177/18681026211057134
%X Over the last years, Brazil and China's oil-related finance activities have expanded substantially. Between 2007 and 2019, Brazilian companies received approximately one-fourth of Chinese policy banks overseas oil-related loans, and Chinese financial institutions became Brazil's biggest oil company Petrobras’ main creditor. A deep analysis of these loans highlights their usage as economic statecraft tools, with impacts on the bilateral crude trade and investments. Loan-for-oil mechanisms, content purchase requirements, and a countercyclical lending pattern have helped to influence Brazilian players to behave in a manner conducive to the Chinese state's energy security objectives and strategic goals, namely increase of imports, diversification of sources, and internationalisation of firms. With these loans, China has satisfactorily guaranteed a stable oil supply over time and has helped Chinese equipment makers and service providers to expand their footage in Brazil.
%C GBR
%G en
%9 Zeitschriftenartikel
%W GESIS - http://www.gesis.org
%~ SSOAR - http://www.ssoar.info