Chinese engagement in Southeast Asian energy and mineral resources: motivations and outlook

Eurasian Geography and Economics

Volumn 57, Issue 3, 2016, Pages 316-342

  Andrews Speed, Philip ^a   Qiu, Mingda ^b   Len, Christopher ^a  

^a NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

China; energy; investment; minerals; motivations; Southeast Asia

Indexed keywords

ENERGY RESOURCE; INVESTMENT; MINERAL RESOURCE; MINING INDUSTRY;

CHINA; SOUTHEAST ASIA;

EID: 84979017544     PISSN: 15387216     EISSN: None     Source Type: Journal    
DOI: 10.1080/15387216.2016.1211025     Document Type: Article

References (102)

1. I.Alon, Ilan, J.ChildJohn, S.LiShaomin, and J.R.McIntyreJohn R. 2011. “Globalization of Chinese Firms:Theoretical Universalism or Particularism.” Management and Organization Review 7:191–200.10.1111/j.1740-8784.2011.00234.x
2. American Enterprise Institute. 2015. China Global Investment Tracker. Accessed 15 June 2015. http://www.aei.org/china-global-investment-tracker/
3. P.Andrews-Speed, Philip. 2015. “China and Russia’s Competition for East and Southeast Asia Energy Resources.” In The EU-China Relationship:European Perspectives. a Manual for Policy Makers, edited by K.Brown, 294–305. London:Imperial College Press.
4. P.Andrews-Speed, Philip, and R.DannreutherRoland. 2011. China, Oil and Global Politics. Abingdon:Routledge.
5. P.Andrews-Speed, Philip, X.LiaoXuanli, and R.DannreutherRoland. 2002. “The Strategic Implications of China’s Energy Needs.” Adelphi Paper no. 346. London:International Institute of Strategic Studies.
6. H.G.Barkema, Harry G., and F.VermeulenFreek. 1997. “What Differences in the Cultural Backgrounds of Partners Are Detrimental for International Joint Ventures?” Journal of International Business Studies 28:845–864.10.1057/palgrave.jibs.8490122
7. BP. 2015. Statistical Review of World Energy. London:BP.
8. D.Brautigam, Deborah. 2009. The Dragon’s Gift. the Real Story of China in Africa. Oxford:Oxford University Press.
9. British Geological Survey. 2015. World Mineral Production 2009–2013. Keyworth:British Geological Survey.
10. P.J.Buckley, Peter J., L.Jeremy Clegg, A.R.CrossAdam R., X.LiuXin, H.VossHinrich, and P.ZhengPing. 2007. “The Determinants of Chinese Outward Investment.” Journal of International Business Studies 38:499–518.10.1057/palgrave.jibs.8400277
11. J.Child, John, and S.B.RodriguezSuzana B. 2005. “The Internationalization of Chinese Firms:A Case for Theoretical Extension.” Management and Organization Review 1:381–410.10.1111/more.2005.1.issue-3
12. CNOOC (China National Offshore Oil Corporation). 2010. Key Operating Areas – Indonesia. Accessed 3 March 2015. http://www.cnoocltd.com/encnoocltd/AboutUs/zygzq/Overseas/1639.shtml
13. China National Petroleum Corporation. 2010. CNPC in Indonesia. Accessed March 3 2015. http://www.cnpc.com.cn/en/cnpcworldwide/indonesia/PageAssets/Images/CNPC%20in%20Indonesia.pdf
14. C.M.Colberg, Claire Mai. 2014. “Catching Fish with Two Hands:Vietnam’s Hedging Strategy towards China.” Thesis submitted to the Interschool Honors Program in International Security Studies. Stanford:Stanford University.
15. F.De Beule, Filip, and D.van den BulckeDaniel. 2012. “Locational Determinants of Outward Foreign Direct Investment:An Analysis of Chinese and Indian Greenfield Investments.” Transnational Corporations 21:1–34.
16. P.Deng, Ping. 2009. “Why Do Chinese Firms Tend to Acquire Strategic Assets in International Expansion?” Journal of World Business 44:74–84.10.1016/j.jwb.2008.03.014
17. R.Desbordes, Rodolphe, and V.VicardVincent. 2007. “Foreign Direct Investment and Bilateral Investment Treaties, an International Political Perspective.” Documents De Travail Du Centre D’Economie De La Sorbonne 2007. 45.
18. D.Dikova, Desislava. 2009. “Performance of Foreign Subsidiaries:Does Psychic Distance Matter?” International Business Review 18:38–49.10.1016/j.ibusrev.2008.11.001
19. X.Ding, Xueliang. 2000. “Informal Privatization through Internationalization:The Rise of Nomenklatura Capitalism in China’s Offshore Business.” British Journal of Political Science 30:121–146.10.1017/S0007123400000065
20. J.Du, Julan, K.WangKai, and Y.WangYongqin. 2014. “Political Determinants of the Location Choice and Entry Mode of Chinese Outward FDI.” The 6th Annual Joint Workshop on Socio-Economics co-sponsored by Fudan University, University of Paris 1 and FERDI, Paris, June 2014.
21. J.H.Dunning, John H. 1973. “The Determinants of International Production.” Oxford Economic Papers 25:289–336.
22. J.H.Dunning, John H. 1980. “Toward an Eclectic Theory of International Production:Some Empirical Tests.” Journal of International Business Studies 11:9–31.10.1057/palgrave.jibs.8490593
23. J.H.Dunning, John H. 2000. “The Eclectic Paradigm as an Envelope for Economic and Business Theories of MNE Activity.” International Business Review 9:163–190.10.1016/S0969-5931(99)00035-9
24. J.H.Dunning, John H. 2006. “Towards a New Paradigm of Development:Implications for the Determinants of International Business Activity.” Transnational Corporations 15:173–227.
25. J.H.Dunning, John H., and S.M.LundanSarianna M. 2008. “Institutions and the OLI Paradigm of the Multinational Enterprise.” Asia Pacific Journal of Management 25:573–593.10.1007/s10490-007-9074-z
26. J.H.Dunning, John. H., and R.NarulaRajneesh. 1996. “The Investment Development Path Revisited:Some Emerging Issues.” In Foreign Direct Investment and Governments. Catalysts for Economic Restructuring, edited by J.H.Dunning and R.Narula, 1–40. London:Routledge.
27. The Economist 2009. “Bauxite Bashers. the Government Chooses Economic Growth over Xenophobia and Greenery.” The Economist, April 23. Accessed 3 April 2015. http://www.economist.com/node/13527969
28. The Economist 2014. “Chinese Miner Tries to Be Nice.” The Economist, May 24. Accessed 3 March 2015. http://www.economist.com/news/business/21602719-chinese-miner-tries-be-nice-kidnapped
29. E.C.Economy, Elizabeth C., and M.LeviMichael. 2014. By All Means Necessary. How China’s Resource Quest is Changing the World. Oxford:Oxford University Press.
30. M.Ericsson, Magnus. 2011. “Mineral Supply from Africa. China’s Investment Inroads into the African Mineral Resource Sector.” The Journal of the Southern African Institute of Mining and Metallurgy 111:497–500.
31. J.Evans, Jody, and F.T.MavondoFelix T. 2002. “Psychic Distance and Organizational Performance:An Empirical Examination of International Retailing Operations.” Journal of International Business Studies 33:515–532.10.1057/palgrave.jibs.8491029
32. D.Freeman, Duncan. 2013. “China’s Outward Investment. Institutions, Constraints, and Challenges.” Asia Paper 7 4. Brussels:Brussels Institute of Contemporary China Studies.
33. L.Gao, Lan, X.LiuXiaohui, and E.LioliouEleni. 2015. “A Double-edged Sword:The Impact of Institutions and Political Relations on the International Market Expansion of Chinese State-owned Enterprises.” Journal of Chinese Economic and Business Studies 13:105–125.10.1080/14765284.2015.1021131
34. R.G.B.Goldszmidt, Rafael G. Burstein, L.A.L.BritoLuiz Artur Ledur, and F.C.de VasconcelosFlavio Carvalho. 2011. “Country Effect on Firm Performance:A Multilevel Approach.” Journal of Business Research 64:273–279.10.1016/j.jbusres.2009.11.012
35. R.Gonzales-Vicente, Ruben. 2011. “Mapping Chinese Mining Investment, with a Focus on Latin America.” Unpublished paper prepared for the China-Latin America meeting at University of California Los Angeles, Asia Institute, April 15–16.
36. Greenovation Hub 2014. China’s Mining Industry at Home and Overseas. Development, Impacts and Regulation. Beijing:Greenovation Hub.
37. L.Guiso, Luigi, P.SapienzaPaola, and L.ZingalesLuigi. 2004. “Cultural Biases in Economic Exchange.” Cambridge MA:NBER Working Paper Series 11005.10.3386/w11005
38. Y.Guo, Yingjie, S.HouShumei, G.SmithGraeme, and S.Martinez-PachecoSelene. 2012. “Chinese Outward Directed Investment. Case Studies of SOEs Going Global.” In Law and Policy for China’s Market Socialism, edited by J.Garrick, 131–143. Abingdon:Routledge.
39. T.Hanemann, Thilo, and M.HuotariMiko. 2015. Chinese FDI in Europe and Germany. Preparing for a New Era of Chinese Capital. Berlin:Mercator Institute for Chinese Studies.
40. O.Hensengerth, Oliver. 2011. “Interaction of Chinese Institutions with Host Governments in Dam Construction. the Bui Dam in Ghana.” Bonn:German Development Institute, Discussion Paper 3/2011.
41. Highlands Pacific Undated. Ramu Nickel. Accessed 25 April 2015. http://www.highlandspacific.com/current-projects/ramu-nickel
42. L.Hook, Leslie. 2013. “China Starts Importing Natural Gas from Myanmar.” Financial times, July 29. Accessed 2 February 2015. http://www.ft.com/intl/cms/s/0/870f632c-f83e-11e2-92f0-00144feabdc0.html#axzz2uIwlLuZE
43. T.Houser, Trevor. 2008. “The Roots of Chinese Oil Investment Abroad.” Asian Policy 5:141–166.10.1353/asp.2008.0009
44. D.Humphreys, David. 2013. “New Mercantilism:A Perspective on How Politics is Shaping World Metal Supply.” Resources Policy 38:341–349.10.1016/j.resourpol.2013.05.003
45. D.Humphreys, David. 2015. The Remaking of the Mining Industry. Basingstoke:Palgrave Macmillan.10.1057/9781137442017
46. International Energy Agency 2013. Southeast Asia Energy Outlook. Paris:OECD/IEA.
47. International Rivers 2011. The Myitsone Dam on the Irrawaddy River:A Briefing. Accessed 7 December 2014. http://www.internationalrivers.org/resources/the-myitsone-dam-on-the-irrawaddy-river-a-briefing-3931
48. The Irrawaddy 2015. “Protests Continue against Letpadaung Copper Mine.” The Irrawaddy, January 19. Accessed 3 March 2015. http://www.irrawaddy.org/burma/protests\/continue-letpadaung-copper-mine.html
49. J.Jiang, Julie, and C.DingChen. 2014. Update on Overseas Investments by China’s National Oil Companies. Achievements and Challenges since 2011. Paris:OECD/IEA.
50. J.Jiang, Julie, and J.SintonJonathan. 2011. Overseas Investments by Chinese National Oil Companies:Assessing the Drivers and Impacts. Paris:OECD/IEA.10.1787/5kgglrwdrvvd-en
51. Y.Kang, Yuanfei, and F.JiangFuming. 2012. “FDI Location Choice of Chinese Multinationals in East and Southeast Asia:Traditional Economic Factors and Institutional Perspective.” Journal of World Business 47:45–53.10.1016/j.jwb.2010.10.019
52. I.Kolstad, Ivar, and A.WiigArne. 2009. “What Determines Chinese Outward FDI?” Working Paper no. 2009/3. Bergen:Chr. Michelsen Institute.
53. M.Komesaroff, Michael. 2012. “Screwing up in Foreign Climes.” China Economic Quarterly (June):9–11.
54. B.Kong, Bo. 2010. China’s International Petroleum Policy. Santa Barbara, CA:Praeger Security International.
55. T.Kudo, Toshihiro. 2008. “Myanmar’s Economic Relations with China:Who Benefits and Who Pays?” In Dictatorship, Disorder and Decline in Myanmar, edited by M.Skidmore and T.Wilson, 87–112. Canberra:Australian National University.
56. T.Kudo, Toshihiro. 2012. China’s Policy toward Myanmar:Challenges and Prospects, IDE-Jetro. Accessed 27 March 2015. www.ide.go.jp/English/Research/Region/Asia/pdf/201209_kudo.pdf.
57. H.Lai, Hongyi, S.O’HaraSarah, and K.WysoczanskaKarolina. 2014. “Rationale of Internationalization of China’s National Oil Companies:Seeking Strategic Natural Resources, Strategic Assets or Sectoral Specialization?” Asia Pacific Business Review 21:77–95.
58. M.Lankhuizen, Maureen, H.L.F.de GrootHenri L.F., and G.-J.M.LindersGert-Jan M. 2009. “The Trade-off between Foreign Direct Investments and Exports:The Role of Multiple Dimensions of Distance.” Amsterdam:Tinbergen Institute Discussion Paper, 2009-050/3.
59. H.H.Le, Hong Hiep. 2013. The Dominance of Chinese Engineering Contractors in Vietnam. ISEAS Perspective, 2013. #04. Singapore:Institute of Southeast Asian Studies.
60. H.Liang, Hao, B.RenBing, and H.ZhuHaikun. 2011. “Revisiting the OLI Paradigm:The Institutions, the State, and China’s OFDI.” Munich:CESifo Working Paper:Fiscal Policy, Macroeconomics and Growth, no. 3642.
61. K.Lieberthal, Kenneth, and M.HerbergMikkal. 2006. “China’s Search for Energy Security.” NBR Analysis 17 (1). Seattle, WA:National Bureau of Asian Research.
62. J.Lu, Jiangyong, X.LiuXioahui, M.WrightMike, and I.FilatotchevIgor. 2014. “International Experience and FDI Location Choices of Chinese Firms:The Moderating Effects of Home Country Government Support and Host Country Institutions.” Journal of International Business Studies 45:428–449.10.1057/jibs.2013.68
63. Y.Luo, Yadong, and R.L.TungRosalie L. 2007. “International Expansion of Emerging Market Enterprises:A Springboard Perspective.” Journal of International Business Studies 38:481–498.10.1057/palgrave.jibs.8400275
64. Y.Luo, Yadong, Q.XueQiuzhi, and B.HanBinjie. 2010. “How Emerging Market Governments Promote Outward FDI:Experience from China.” Journal of World Business 45:68–79.10.1016/j.jwb.2009.04.003
65. H.Marston, Hunter. 2012. “Bauxite Mining in Vietnam’s Central Highlands:An Arena for Expanding Civil Society?” Contemporary Southeast Asia 34:173–196.10.1355/cs34-2b
66. J.McCarthy, Joseph. 2013. “Crude ‘Oil Mercantilism’? Chinese Oil Engagement in Kazakhstan.” Pacific Affairs 86:257–280.10.5509/2013862257
67. K.McDonald, Kristen, P.BosshardPeter, and N.BrewerNicole. 2009. “Exporting Dams:China’s Hydropower Industry Goes Global.” Journal of Environmental Management 90:S294–S302.10.1016/j.jenvman.2008.07.023
68. Ministry of Commerce 2004. Foreign Investment Industrial Guidance Catalogue, Country Directory. Beijing:Ministry of Commerce. (In Chinese).
69. Ministry of Commerce 2007. Foreign Investment Industrial Guidance Catalogue, Country Directory. Beijing:Ministry of Commerce. (In Chinese).
70. Ministry of Commerce 2011. Foreign Investment Industrial Guidance Catalogue, Country Directory. Beijing:Ministry of Commerce. (In Chinese).
71. R.Mork, Randall, B.YeungBernand, and M.ZhaoMinyuan. 2008. “Perspectives on China’s Outward Foreign Direct Investment.” Journal of International Business Studies 39:337–350.10.1057/palgrave.jibs.8400366
72. National Development Reform Commission 2006. Catalogue of Industries for Guiding Outward Investment. Beijing:National Development Reform Commission. (In Chinese).
73. P.Nolan, Peter. 2001. China and the Global Business Revolution. Basingstoke:Palgrave.10.1057/9780230524101
74. S.-A.Oh, Su-Ann, and P.Andrews-SpeedPhilip. 2015. Chinese Investment and Myanmar’s Shifting Political Landscape. ISEAS Trends in Southeast Asia, no. 15. Singapore:Institute of Southeast Asian Studies.
75. S.Oliver, Sarah, and K.StahlerKevin. 2014. Can Japan Tell Us Where Chinese FDI is Going in ASEAN? Washington DC:Peterson Institute for International Economics. Accessed 10 February 2015. http://blogs.piie.com/china/?p=3944
76. S.Paul, Sonali. 2014. “China’s Ramu Nickel Mine in PNG Restarts after Attacks.” Reuters, August 7. Accessed May 17, 2015. http://in.reuters.com/article/2014/08/07/papua-nickel-ramu-idINL4N0QD0GY20140807
77. M.W.Peng, Mike W., D.Y.L.WangDenis Y. L., and Y.JiangYi. 2008. “An Institution-based View of International Business Strategy:A Focus on Emerging Economies.” Journal of International Business Studies 39:920–936.10.1057/palgrave.jibs.8400377
78. D.Quer, Diego, E.ClaverEnrique, and L.RiendaLaura. 2012. “Political Risk, Cultural Distance, and Outward Foreign Direct Investment:Empirical Evidence from Large Chinese Firms.” Asia Pacific Journal of Management 29:1089–1104.10.1007/s10490-011-9247-7
79. S.Rangan, Subramanian, and M.SengulMetin. 2009. “The Influence of Macro Structure on Foreign Market Performance of Transnational Firms:The Value of IGO Connections, Export Dependence and Immigration Links.” Administrative Science Quarterly 54:229–267.10.2189/asqu.2009.54.2.229
80. B.Ren, Bing, H.LiangHao, and Y.ZhengYing. 2012. “An Institutional Perspective and the Role of the State for China’s OFDI.” In Chinese International Investments, edited by I.Alon, M.Fetscherin and P.Gugler, 11–37. Basingstoke:Palgrave Macmillan.10.1057/9780230361577
81. N.Salidjanova, Nargiza, I.Koch-WeserIacob, and J.KlandermanJason. 2015. China’s Economic Ties with ASEAN:A Country-by-Country Analysis. U.S.-China Economic Security Review Commission, Staff Research Report.
82. H.Sanderson, Henry, and M.ForsytheMichael. 2013. China’s Superbank. Debt, Oil and Influence – How China Development Bank is Rewriting the Rules of Finance. Singapore:Wiley.
83. I.Storey, Ian. 2011. Southeast Asia and the Rise of China. Abingdon:Routledge.
84. Y.Sun, Yingjie. 2013. “Sino-Myanmar Oil and Gas Pipelines:An Expensive Lesson for China?” New York times, July 11. Accessed 12 September 2014. http://cn.nytimes.com/china/20130711/cc11myanmar/
85. C.Tubilewicz, Czeslaw, and K.JayasuriyaKanishka. 2015. “Internationalisation of the Chinese Subnational State and Capital:The Case of Yunnan and the Greater Mekong Subregion.” Australian Journal of International Affairs 69:185–204.10.1080/10357718.2014.978739
86. O.Tunsjo, Oystein. 2013. Security and Profit in China’s Energy Policy. Hedging against Risk. New York:Columbia University Press.10.7312/columbia/9780231165082.001.0001
87. United Nations Conference on Trade and Development 2006. World Investment Report 2006. FDI from Developing and Transition Economies:Implications for Development. New York:United Nations.
88. Vietnam Business Forum 2015. “Bauxite Project Still Effective.” Vietnam Business Forum April 21. Accessed 4 June 2015. http://vccinews.com/news_detail.asp?news_id=32009
89. H.Voss, Hinrich. 2011. The Determinants of Chinese Outward Direct Investment. Cheltenham:Edward Elgar.10.4337/9781849809566
90. W.W.Wan, William W., and R.E.HoskissonRobert E. 2003. “Home Country Environments, Corporate Diversification Strategies, and Firm Performance.” Academy of Management Journal 46:27–45.10.2307/30040674
91. M.Y.Wang, Mark Yaolin. 2002. “The Motivations behind China’s Government-initiated Industrial Investments Overseas.” Pacific Affairs 75:187–2006.10.2307/4127182
92. G.Wang, Gungwu. 2005. “China and Southeast Asia:The Context of a New Beginning.” In Power Shift. China and Asia’s New Dynamics, edited by D.Shambaugh, 187–204. Berkeley:University of California Press.
93. J.D.Wilson, Jeffrey D. 2012. “Chinese Resource Security Policies and the Restructuring of the Asia-Pacific Iron Ore Market.” Resources Policy 37:331–339.10.1016/j.resourpol.2012.03.002
94. J.D.Wilson, Jeffrey D. 2014. “Northeast Asian Resource Security Strategies and International Resource Politics in Asia.” Asian Studies Review 38:15–35.10.1080/10357823.2013.853027
95. M.A.Witt, Michael A., and A.Y.LewinArie Y. 2007. “Outward Foreign Direct Investment as Escape Response to Home Country Institutional Constraints.” Journal of International Business Studies 38:579–594.10.1057/palgrave.jibs.8400285
96. D.W.Yiu, Daphne W., C.LauChungming, and G.D.BrutonGary D. 2007. “International Venturing by Emerging Economy Firms:The Effects of Firm Capabilities, Home Country Networks, and Corporate Entrepreneurship.” Journal of International Business Studies 38:519–540.10.1057/palgrave.jibs.8400278
97. X.Zhang, Xiaoxi, and K.DalyKevin. 2011. “The Determinants of China’s Outward Investment.” Emerging Markets Review 12:389–398.10.1016/j.ememar.2011.06.001
98. H.Zhao, Hong. 2013. The China-Myanmar Energy Pipelines:Risks and Benefits. ISEAS Perspective, no. 30/2013. Singapore:Institute of Southeast Asian Studies.
99. H.Zhao, Hong. 2015. China and ASEAN. Energy Security, Cooperation and Competition. Singapore:Institute of Southeast Asian Studies.
100. L.Zhou, Lihuan, and D.LeungDenise. 2015. China’s Overseas Investments, Explained in 10 Graphics. Washington, DC:World Resources Institute. Accessed 7 July 2015. http://www.wri.org/blog/2015/01/china%E2%80%99s-overseas-investments-explained-10-graphics
101. C.Zhu, Charlie, D.LagueDavid, and F.JensenFergus. 2014. “Depleted Oil Field is Window into China’s Corruption Crackdown.” Reuters Special Report, December 19. Accessed 3 May 2015. http://www.reuters.com/article/us-china-corruption-indonesia-specialrep-idUSKBN0JX00720141219
102. D.Zweig, David, and Y.HaoYufan, eds. 2016. Sino-US Energy Triangles. Resource Diplomacy under Hegemony. Abingdon:Routledge.