{"title":"Chinese Economic Statecraft and China's Oil Development Finance in Brazil","authors":"Pedro Henrique Batista Barbosa","doi":"10.1177/18681026211057134","DOIUrl":null,"url":null,"abstract":"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.","PeriodicalId":37907,"journal":{"name":"Journal of Current Chinese Affairs","volume":"74 1","pages":"366 - 390"},"PeriodicalIF":0.0000,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Current Chinese Affairs","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1177/18681026211057134","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 2
Abstract
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.
期刊介绍：
The Journal of Current Chinese Affairs is an internationally refereed academic journal published by the GIGA Institute of Asian Studies, Hamburg. The journal focuses on current developments in Greater China. It is simultaneously published (three times per year) online as an Open Access journal and as a printed version with a circulation of 1,000 copies, making it one of the world’s most widely read periodicals on Asian affairs. The Journal of Current Chinese Affairs, unlike some other Open Access publications, does not charge its authors any fee. The Journal of Current Chinese Affairs reaches a broad international readership in academia, administration and business circles. It is devoted to the transfer of scholarly insights to a wide audience. The journal is committed to publishing high-quality, original research on current issues in China in a format and style that is accessible across disciplines and to professionals with an interest in the region. The editors welcome contributions on current affairs within Greater China, including Hong Kong, Macau and Taiwan. Submissions can focus on emerging topics and current developments as well as on future-oriented debates in the fields of China''s global and regional roles; political, economic and social developments including foreign affairs, business, finance, cultural industries, religion, education, science and technology; and so on.
京公网安备 11010802042870号
京ICP备2023020795号-1
分享
求助内容：
应助结果提醒方式：
扫码关注我们
