China and Angola: From the Pioneering “Angolan Model” to a “New” Relationship
Date
2024-11-25
Authors
Contributor
Advisor
Department
Instructor
Depositor
Speaker
Researcher
Consultant
Interviewer
Narrator
Transcriber
Annotator
Journal Title
Journal ISSN
Volume Title
Publisher
East-West Center
Volume
Number/Issue
Starting Page
Ending Page
Alternative Title
Abstract
China’s relationship with Angola is an important case in the larger strategic competition between Beijing and the economically developed, liberal democratic states for political influence in the Global South. China has provided large loans to Angola since the 2000s and, in return, acquired Angola’s petroleum to meet China’s high domestic energy demands. Angola has repaid the majority of its debt to China in the form of extracted oil. This contractual arrangement is known as the “Angolan model.” However, China’s large loans only enriched a small segment of Angola’s elite circle and spread serious corruption. The drop in global oil prices since 2014 has left Angola in serious economic distress. Angola’s oil production has also peaked. The “Angolan model” of collateralizing oil for loans became difficult to sustain. Angola’s new administration is seeking to develop non-oil industries to diversify its economy away from its traditional dependency on oil exports. China’s role, nevertheless, will not decrease and may increase. While oil remains paramount for China and Angola, cooperation between the two countries is gradually expanding into broader areas beyond its petroleum.
Description
Keywords
Citation
Extent
8 pages
Format
Article
Geographic Location
Time Period
Related To
Related To (URI)
Table of Contents
Rights
In Copyright
Rights Holder
Local Contexts
Collections
Email libraryada-l@lists.hawaii.edu if you need this content in ADA-compliant format.