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Bartering Globalization: China's Commodity-backed Finance in Africa and Latin America

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  • Deborah Bräutigam
  • Kevin P. Gallagher

Abstract

type="graphical" xml:id="gpol12138-abs-0002"> We estimate that Chinese banks have made commitments of approximately US$132 billion in financing to African and Latin American governments. More than 80 percent of this finance has gone to these regions since the 2008 global financial crisis.

Suggested Citation

  • Deborah Bräutigam & Kevin P. Gallagher, 2014. "Bartering Globalization: China's Commodity-backed Finance in Africa and Latin America," Global Policy, London School of Economics and Political Science, vol. 5(3), pages 346-352, September.
    • Handle: RePEc:bla:glopol:v:5:y:2014:i:3:p:346-352
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    Cited by:

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    3. Zhiwen Gong & Fung Chan & Yan Wu, 2021. "Borrowing Hong Kong’s International Standards: A Steppingstone for the Chinese “Belt and Road” Going Out?," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    4. Humphrey, Chris & Michaelowa, Katharina, 2019. "China in Africa: Competition for traditional development finance institutions?," World Development, Elsevier, vol. 120(C), pages 15-28.
    5. Nechifor, Victor & Basheer, Mohammed & Calzadilla, Alvaro & Obuobie, Emmanuel & Harou, Julien J., 2022. "Financing national scale energy projects in developing countries – An economy-wide evaluation of Ghana's Bui Dam," Energy Economics, Elsevier, vol. 111(C).
    6. Kong, Bo & Gallagher, Kevin P., 2021. "The new coal champion of the world: The political economy of Chinese overseas development finance for coal-fired power plants," Energy Policy, Elsevier, vol. 155(C).
    7. Muyang Chen, 2021. "China–Japan development finance competition and the revival of mercantilism," Development Policy Review, Overseas Development Institute, vol. 39(5), pages 811-828, September.
    8. Schclarek, Alfredo & Xu, Jiajun & Amuchastegui, Pedro, 2022. "Panda bond financing of the Belt and Road Initiative: An analysis of monetary mechanisms and financial risks," Research in International Business and Finance, Elsevier, vol. 61(C).
    9. Kitano, Naohiro, 2016. "Estimating China’s Foreign Aid II: 2014 Update," Working Papers 131, JICA Research Institute.
    10. Xu, Jiajun & Ru, Xinshun & Song, Pengcheng, 2021. "Can a new model of infrastructure financing mitigate credit rationing in poorly governed countries?," Economic Modelling, Elsevier, vol. 95(C), pages 111-120.
    11. Peter J Buckley & L Jeremy Clegg & Hinrich Voss & Adam R Cross & Xin Liu & Ping Zheng, 2018. "A retrospective and agenda for future research on Chinese outward foreign direct investment," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(1), pages 4-23, January.
    12. Ben Derudder & Xiang Feng & Wei Shen & Rui Shao & Peter J. Taylor, 2022. "Connections between Asian and European World Cities: Measurement, Analysis, and Evaluation," Land, MDPI, vol. 11(9), pages 1-23, September.
    13. Bai, Yu & Li, Yanjun & Wang, Yunuo, 2022. "Chinese aid and local political attitudes," Economic Modelling, Elsevier, vol. 113(C).
    14. Annina Kärkkäinen, 2016. "Does China have a geoeconomic strategy towards Zimbabwe? The case of the Zimbabwean natural resource sector," Asia Europe Journal, Springer, vol. 14(2), pages 185-202, June.
    15. Botchie, David & Sarpong, David & Meissner, Dirk, 2022. "Chain upgrading, technology transfer, and legitimacy: The Schumpeterian character of China in the information and communication technology sector in SSA," Technological Forecasting and Social Change, Elsevier, vol. 183(C).
    16. Bas Hooijmaaijers, 2021. "The BRICS Countries’ Bilateral Economic Relations, 2009 to 2019: Between Rhetoric and Reality," SAGE Open, , vol. 11(4), pages 21582440211, October.
    17. Shatkin, Gavin, 2022. "Financial sector actors, the state, and the rescaling of Jakarta’s extended urban region," Land Use Policy, Elsevier, vol. 112(C).
    18. Wang, Qiang & Li, Rongrong, 2016. "Sino-Venezuelan oil-for-loan deal – the Chinese strategic gamble?#," Renewable and Sustainable Energy Reviews, Elsevier, vol. 64(C), pages 817-822.
    19. Miao Miao & Jiang Yushi & Dinkneh Gebre Borojo, 2020. "The Impacts of China–Africa Economic Relation on Factor Productivity of African Countries," Economies, MDPI, vol. 8(2), pages 1-30, June.
    20. Degele Ergano & Seshagiri Rao, 2019. "Sino–Africa Bilateral Economic Relation: Nature and Perspectives," Insight on Africa, , vol. 11(1), pages 1-17, January.
    21. Xia, Ying & Chen, Muyang, 2023. "The Janus face of stateness: China's development-oriented equity investments in Africa," World Development, Elsevier, vol. 162(C).
    22. Hu, Dengfeng & You, Kefei & Esiyok, Bulent, 2021. "Foreign direct investment among developing markets and its technological impact on host: Evidence from spatial analysis of Chinese investment in Africa," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    23. Gallagher, Kevin P. & Kamal, Rohini & Jin, Junda & Chen, Yanning & Ma, Xinyue, 2018. "Energizing development finance? The benefits and risks of China's development finance in the global energy sector," Energy Policy, Elsevier, vol. 122(C), pages 313-321.
    24. Sierra, Jazmin & Hochstetler, Kathryn, 2017. "Transnational activist networks and rising powers: transparency and environmental concerns in the Brazilian National Development Bank," LSE Research Online Documents on Economics 79089, London School of Economics and Political Science, LSE Library.

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