{"title":"Kleptocracy and Foreign Loan Decision-Making Process: Insights From Malaysia's Deals and Renegotiations With China","authors":"A. Abadi","doi":"10.1177/18681034211058470","DOIUrl":null,"url":null,"abstract":"One the largest cases of kleptocracy is attributed to the 1Malaysia Development Berhad (1MDB) scandal involving the former Malaysian Prime Minister, Najib Razak. As a result of the pressure to pay the debt, Najib signed multiple inflated infrastructure loans from China in 2016. This study analyses the manipulation of Public Service Bargains as a critical variable influencing the foreign loan decision-making of the kleptocrat leader. It concludes that Najib's manipulation strategies transformed the established Trustee-type to kleptocratic-type bargains in Malaysia's foreign loan decision-making process. The post-Najib's restoration of Trustee-type bargains under the new Malaysian government, followed by a series of successful renegotiations with China, attest to the significance of the Public Service Bargains system on the foreign loan decision-making process. This analysis also contributes to the wider discussion on the critical side of China's Belt and Road Initiative amidst a global call for good governance.","PeriodicalId":15424,"journal":{"name":"Journal of Current Southeast Asian Affairs","volume":"41 1","pages":"135 - 158"},"PeriodicalIF":2.4000,"publicationDate":"2021-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Current Southeast Asian Affairs","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1177/18681034211058470","RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"AREA STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
One the largest cases of kleptocracy is attributed to the 1Malaysia Development Berhad (1MDB) scandal involving the former Malaysian Prime Minister, Najib Razak. As a result of the pressure to pay the debt, Najib signed multiple inflated infrastructure loans from China in 2016. This study analyses the manipulation of Public Service Bargains as a critical variable influencing the foreign loan decision-making of the kleptocrat leader. It concludes that Najib's manipulation strategies transformed the established Trustee-type to kleptocratic-type bargains in Malaysia's foreign loan decision-making process. The post-Najib's restoration of Trustee-type bargains under the new Malaysian government, followed by a series of successful renegotiations with China, attest to the significance of the Public Service Bargains system on the foreign loan decision-making process. This analysis also contributes to the wider discussion on the critical side of China's Belt and Road Initiative amidst a global call for good governance.
期刊介绍：
The Journal of Current Southeast Asian Affairs, published by the GIGA Institute of Asian Studies (IAS) in Hamburg, is an internationally refereed journal. The publication focuses on current developments in international relations, politics, economics, society, education, environment and law in Southeast Asia. The topics covered should not only be oriented towards specialists in Southeast Asian affairs, but should also be of relevance to readers with a practical interest in the region. For more than three decades, the Journal of Current Southeast Asian Affairs (formerly Südostasien aktuell) has regularly provided – six times per year and in German - insightful and in-depth analyses of current issues in political, social and economic life; culture; and development in Southeast Asia. It continues to be devoted to the transfer of scholarly insights to a wider audience and is the leading academic journal devoted exclusively to this region. Interested readers can access the abstracts and tables of contents of earlier issues of the journal via the webpage http://www.giga-hamburg.de/de/publikationen/archiv.
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