Download full text
(external source)
Citation Suggestion
Please use the following Persistent Identifier (PID) to cite this document:
https://doi.org/10.1177/18681034231186441
Exports for your reference manager
Foreign investment, state capitalism, and national development in Borneo: rethinking Brunei-China economic relations
[journal article]
Abstract Faced with dwindling oil and gas reserves, Brunei has been hard-pressed to diversify its reliance on hydrocarbon. China has emerged as an attractive prospect to the Brunei government, especially since the launch of the Belt and Road Initiative. This article analyses a few major Chinese projects in B... view more
Faced with dwindling oil and gas reserves, Brunei has been hard-pressed to diversify its reliance on hydrocarbon. China has emerged as an attractive prospect to the Brunei government, especially since the launch of the Belt and Road Initiative. This article analyses a few major Chinese projects in Brunei and postulates three interrelated arguments. Firstly, Chinese investors have targeted Brunei's natural resources and fiscal incentives. These firms have minimal interest in the Sultanate's small domestic market as they eye the export sector. Secondly, these projects have been orchestrated by China's provincially-owned state-owned enterprises (SOE) and private firms, instead of centrally-controlled SOEs. State support has generally been channelled to these projects in an at-arm's length manner. Thirdly, while Brunei is relatively skilled in attracting Chinese investors to further its own political economic goals, at least in the short-run, it is uncertain whether such capital exports have helped in ameliorating the structural limits of the country's economy.... view less
Keywords
Brunei; Southeast Asia; China; foreign investment; direct investment; development policy; state capitalism; industrial policy; economic relations; political economy
Classification
International Relations, International Politics, Foreign Affairs, Development Policy
Political Economy
Free Keywords
Verhältnis wirtschaftliche Akteure - Staat; Wirtschaftsunternehmen
Document language
English
Publication Year
2023
Page/Pages
p. 242-264
Journal
Journal of Current Southeast Asian Affairs, 42 (2023) 2
ISSN
1868-4882
Status
Published Version; peer reviewed