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n African Review of Economics and Finance - China's Superbank : Debt, Oil and Influence -How China Development Bank is Rewriting the Rules of Finance, Henry Sanderson and Michael Forsythe (Eds.) : book review

Volume 8, Issue 1
  • ISSN : 2042-1478
  • E-ISSN: 2410-4906

Abstract

As China has increased its aid, trade, investments, market share, and influence in the countries of Africa, there has been scant attention paid to the role of Chinese financial institutions. When a major China-Africa deal is announced, in which a generalized "China" has an agreement with an African country for a stupendous amount of money, the particulars of that deal are seldom revealed. For example, when the Financial Times reports on April 28, 2015 that "China rail group signs $5.5bn in Africa deals", it is only in the sixth paragraph that the reader learns that "[China Railway Construction Corp] said financing for its rail project had not been finalised." China is not making these deals but rather Chinese companies and individuals are; they are able to do so because of Chinese financing and Chinese policy banks. However, there is not as much literature specifically on these policy banks and how they relate to Africa-China relations. Thankfully, veteran reporters Henry Sanderson and Michael Forsythe have given readers an incredible resource in , which offers a detailed and insightful look at one of the most powerful financial institutions in the world: the Chinese Development Bank (CDB).

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2016-06-01
2019-08-25

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