The role of China in the Portuguese speaking African countries: The case of Mozambique (Part II)

 

Fernanda Ilhéu *

^*Doutorada em Administração e Marketing, Universidade de Sevilha, Espanha. Docente no ISEG e coordenadora do ChinaLogus do CEGE/ISEG. e-mail: fernandailheu@iseg.utl.pt

 

ABSTRACT

Due to the Reform and Open Door Policies initiated in 1978, China has since recorded rapid and sustainable economic growth, turning it into the world’s second largest economy. With an export oriented economic model, strongly supported by foreign direct investment, China became world’s number one exporter when it overtook Germany in 2009. Presently China has the world’s largest foreign exchange currency funds, 50% of which is being applied in American bonds while the remaining supports Chinese health and social security systems, Chinese banks’ solvability, internationalization of the Chinese economy, outward foreign direct investment (OFDI) and Chinese official foreign aid (ODA) to other developing countries. Although the Chinese OFDI fluxes are nowadays more oriented to mature economies, the bulk is mainly directed to partnerships with other developing countries like African countries; more specifically, the Chinese government identified the Portuguese Speaking African Countries as strategically important for cooperation and investment. These countries have high expectations of this Chinese investment and cooperation and our research questions are: (a) Should this investment be considered ODA or OFDI?; (b) How far can Chinese finance fluxes contribute to the development of these countries in terms of employment, exports, technology transfer?; (c) Is this investment seen as an opportunity or a threat by local people, is it fulfilling the created expectations or not? Our empirical research concentrates on the Mozambique case in this paper.

Key words: China, Outward Foreign Direct Investment, Official Foreign Aid, Beijing Consensus, Portuguese Speaking African Countries, Mozambique.

 

O papel da China nos PALOP: o caso de Moçambique (Segunda Parte)

RESUMO

Devido às políticas de Reforma e Porta Aberta iniciadas em 1978, a China registou, desde essa altura, um rápido crescimento económico sustentado, tornando-a na segunda maior economia do mundo. Com um modelo económico orientado para a exportação, altamente apoiado por investimento directo externo, a China tornou-se no maior exportador mundial, depois de ultrapassar a Alemanha em 2009. Presentemente, a China tem a maior reserva do mundo de divisas estrangeiras, 50% aplicada em títulos do Tesouro americanos e o restante nos sistemas de saúde e segurança chineses, na solvabilidade dos bancos chineses, na internacionalização da economia chinesa, no investimento directo da China no exterior (IDENE) e na ajuda pública da China ao desenvolvimento de outros países (APED). Embora os fluxos de IDENE da China estejam hoje em dia mais virados para as economias maduras, a sua maior percentagem ainda se dirige a parcerias com outros países em desenvolvimento, como por exemplo os países africanos, e dentro destes o governo chinês identificou um grupo estrategicamente importante para cooperar e investir, os Países Africanos de Língua Oficial Portuguesa (PALOP). Estes países têm grandes expectativas no investimento e cooperação com a China e as questões que pesquisamos são: (a) Deve este investimento ser considerado IDENE ou APED?; (b) Até que ponto estes fluxos financeiros contribuem para o desenvolvimento desses países em termos de emprego, exportações, transferência de tecnologia?; (c) Este investimento é visto como uma ameaça ou uma oportunidade pela população local, está ele a corresponder às expectativas criadas ou não? Neste artigo iremos focar a nossa pesquisa no caso de Moçambique.

Palavras-chave: China, Investimento Directo da China no Exterior, Ajuda Pública da China ao Desenvolvimento, PALOP, Consenso de Pequim, Moçambique.

 

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