Inclusive globalization or old wine in a new bottle? China-led globalization in sub-Saharan Africa. Issue 8 (17th November 2022)

• Record Type: Journal Article
• Authors: Verkhovets, Stepan; Karaoğuz, H. Emrah
• Is Part Of: Globalizations. Volume 19:Issue 8(2022)
• Page Start: 1195
• Page End: 1210
• Publication Date: 2022-11-17
• Subjects: China-led globalization -- neoliberal globalization -- inclusive globalization -- pro-poor development -- inclusive development -- sub-Saharan Africa; Globalization -- Periodicals; 327.17
• DOI: 10.1080/14747731.2022.2035481
• Languages: English
• ISSNs: 1474-7731

Abstract

ABSTRACT: This article questions whether China's economic initiatives lead to 'inclusive globalization' or tend to sustain the distributional inequalities of neoliberal globalization in the context of sub-Saharan Africa. It argues that many considerations, including China's so-called 'no strings attached' policy and lending behaviour, unfavourable trade relations, concentration of Chinese investments in a few sectors, and limited technology and knowledge transfer, cast doubt on the realization of inclusive globalization. Even though economic relations with China may foster economic growth and provide short-term relief to the poor, which is also conditioned by the recipient countries' degree of state capacity, it is questionable to what degree these relations lead to sustainable pro-poor development. No matter what the underlying political economy explanation is (China's motivations and approach to globalization, weak state capacities in sub-Saharan Africa, structural impediments to development), it is misleading to conclude that China-driven economic globalization is inclusive.