Mapping Chinese Investment in Southeast Asia

This book takes a detailed, contextualised look at how China has projected its power in Southeast Asia since 2000. It analyses relations between China and the countries of Southeast Asia from the point of view of Southeast Asian actors—states, political parties and social groups. This book challenges the idea of China’s rise as being imposed in a unilateral, homogeneous or unambiguous way. It emphasises instead the autonomy of the Southeast Asian states, which are by no means exclusively dominated partners, even within the framework of an asymmetric relationship—taking into account the role played by other influential great powers. In doing so, it paints a nuanced picture of the Chinese presence. Furthermore, the study of investment at the level of Chinese project negotiations allows for a better understanding of China’s relations with Southeast Asia. It follows the threads of the financing methods, target sectors, political operators, and the distinction between central and local financial actors: state-owned banks (both policy and commercial) and state-owned enterprises. It also assesses the respective share of the main financial tools—development aid, direct investment and commercial operations—that are mobilised for the purposes of power projection, within a combined structure exemplified by the Belt and Road Initiative. Reflecting on these temporalities also raises the question of whether the BRI represents a reinvention of previous Chinese projects and investment or simply a continuation of the same Chinese strategy. It also allows readers to understand how Chinese flows dovetail, clash with or reinforce the national policies of host countries, based on an analysis of the interplay between their political and economic elites. This approach leads to a discussion around the idea of Chinese exceptionalism and Sino-centric Asian globalisation. This book is a vital text for social scientists specialising in China and relations with the countries of Southeast Asia.