A New Colonialism? Chinese Foreign Direct Investment in Malaysian Infrastructure
A New Colonialism? Chinese Foreign Direct Investment in Malaysian Infrastructure
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新殖民主义?
DOI:
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发表时间:
2019
期刊:
影响因子:
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通讯作者:
Phillip Hernandez
中科院分区:
文献类型:
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作者:
Phillip Hernandez
Infrastructure is 1 of 17 sustainable development goals proposed by the United Nations and is a key consideration for developing countries seeking sustainable growth. The advancement of infrastructure can propel a nation to developed status and result in numerous spillover effects on its economy. More specifically, greater availability and quality of infrastructure in a developing country will foster economic growth via the attraction of capital inflows from foreign investors who view sound infrastructure as a desirable attribute in the investment decisionmaking process. Foreign direct investment (FDI), which may come from individuals as well as public enterprises, private corporations, or governments, aims to establish a long-term and substantial level of influence on an enterprise or project in a foreign host country. FDI has been historically implemented as a key instrument in driving economic development (Duce). With the South China Sea accounting for about a third of international trade, Southeast Asia quickly became a corridor for the resurgence of FDI post the 2008 global financial crisis. As a result, direct investors in world powers, such as the United States of America, Japan, and, in particular, the People’s Republic of China, have sought investment opportunities in the development of rapidly growing Southeast Asian economies. In 2013, China, using its leverage in the region, introduced a Belt and Road Initiative (BRI), composed of about 65 countries, to enhance connectivity between Eurasian countries via land and maritime routes (Cai). Malaysia, a BRI participant and the third ranked country in Southeast Asia by gross domestic product (GDP) per capita, has grown at steady annual GDP growth rates between 4% and 7% per year since 2010. In addition to its strong growth profile, Malaysia’s strategic location along the Strait of Malacca has made it a lucrative investment target for Chinese A NEW COLONIALISM? CHINESE FOREIGN DIRECT INVESTMENT IN MALAYSIAN INFRASTRUCTURE Phillip Hernandez