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China's African FDI safari : opportunistic exploitation or muturally beneficial to all participants

- Dreier, Tina, Rhodes University

Authors: Dreier, Tina , Rhodes University
Date: 2013 , 2013-04-10
Subjects: Africa -- Foreign economic relations -- China , China -- Foreign economic relations -- Africa , Investments, Foreign -- China , Foreign direct investment
Language: English
Type: Thesis , Masters , MCom
Identifier: vital:929 , http://hdl.handle.net/10962/d1001455 , Africa -- Foreign economic relations -- China , China -- Foreign economic relations -- Africa , Investments, Foreign -- China
Description: When implemented within a favourable legislative framework, Foreign Direct Investment (FDI) can produce domestic growth-enhancing spillovers in host countries. Other potential positive effects include the provision of investment capital, the creation of local employment and the transfer of sophisticated technology or advanced knowledge. African nations in particular have been historically reliant on externally-provided funds. Prevailing low income levels, marginal savings rates and the absence of functioning financial markets necessary to provide local start-up capital continue to keep Africa reliant on foreign inflows. Considering China’s increasing financial commitments to Sub- Saharan Africa (SSA) over the last decade, this study examines the state of current Sino-African investment relationships. Specific attention is paid to the outcomes of this strategic bilateral alliance in order to determine whether or not a mutually beneficial investment relationship has evolved. The distinct nature and structure of, the motivation behind and the most significant determinants of Chinese FDI to SSA are all analysed in accordance with traditional FDI theories. A case study approach is used to establish whether China’s contemporary interest in SSA differs from historical investments and to also investigate country-specific commonalities and differences. Of particular relevance to SSA are resource-backed Chinese loans that finance major infrastructure projects in host nations. Interestingly, a lot of the Sino-African investment packages resemble similar deals struck between China and Japan in the 1970s. The results of this study indicate that China’s investment motives seem more diverse than initially expected. Resource-seeking, profit-seeking and market access-seeking reasons appear to be the most important motives. After establishing the Top- Ten recipients of Chinese FDI in SSA, these nations are then classified into three major categories: resource-, oil- or agricultural-rich nations. Undiversified resource- or oil-rich economies are found to have secured the largest shares of Chinese FDI. This study suggests that China’s contemporary “African Safari” is an unconventional way of providing financial assistance. Rather than solely supplying FDI, China finances a diverse mix of instruments, the most important being concessional loans, export credits, zero-interest loans and the establishment of Special Economic Zones. A profound difference to traditional Western investment packages is China’s non-interference approach. Accordingly, Beijing not only refrains from intervening in host countries’ domestic affairs but also refuses to attach formal conditionalties to its loans. China’s “financial safari” into Africa has produced many positive as well as negative effects in host countries. Nevertheless, it would seem that the positive effects outweigh the negative and China’s FDI could contribute to sustainable development in SSA
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Rhodes University Research Report 2013

- Rhodes University, Roberts, Jaine, Mantolo, Thumeka, Jacob, Patricia, Macgregor, Jill, Dore, Sally

Authors: Rhodes University , Roberts, Jaine , Mantolo, Thumeka , Jacob, Patricia , Macgregor, Jill , Dore, Sally
Date: 2013
Language: English
Type: Text
Identifier: http://hdl.handle.net/10962/59330 , vital:27549
Description: From Foreword by Dr Saleem Badat: Rhodes University has positioned itself as a research university that, alongside excellence in undergraduate teaching, also takes scholarship seriously. This has strongly shaped the intellectual identity of the university and, today, research income and expenditure are significant components of the university’s finances. Rhodes University values the scholar-teacher model of combining research with teaching and learning, and other scholarly activities. This has a strong influence on the quality of intellectual endeavour at the University, and is critical in advancing the University’s pursuit of a strong postgraduate trajectory. This is an opportunity to briefly reflect on research at Rhodes over the eight years of my Vice-Chancellorship. It is gratifying to see that scholarship and publishing has continued to blossom at Rhodes, and has also occurred over a wider academic base, and that there has also been increased enrolments of postgraduates, as part of overall University strategy. Postgraduate enrolments increased from 24% (1 397) in 2006 to 30% (2 302) in 2013, with considerable increases in the numbers of Masters and Doctoral students. Between 2006 and 2013, Honours and Postgraduate Diploma graduations increased from 453 to 719, Masters graduations increased by 73% (from 171 to 296) and Doctoral graduations by 70% (from 46 to 78). Concomitantly, there was an increase in the numbers of black and women PhD graduates. The number of Postdoctoral Fellows at Rhodes rose from 19 in 2007 to 68 in 2013, an increase of 258%. , A publication of the Rhodes University Research Office, compiled and edited by Jaine Roberts, Thumeka Mantolo, Patricia Jacob and Jill Macgregor. Design and Layout: Sally Dore
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