196198

Özgün Ama Tanıdık: Piyasa Temelli Bir Olgu Olarak Çin’in Uluslararası Altyapı Yatırımları

Bilindiği gibi Çin son on yılda başta Afrika, Asya ve Latin Amerika olmak üzere birçok bölgede altyapı alanında önde gelen bir yatırımcı ve finansman kaynağı olmuştur. Bu süreçte ana aktörler, Çin hükümetinin dışarı açılmayı teşvik eden politikalarından yararlanan enerji ve ulaştırma sektörlerindeki Çinli büyük devlet şirketleri ve politika bankaları olmuştur. Pekin’in bu yatırım kampanyasını "Kuşak ve Yol Girişimi" olarak markalaştırmasından itibaren bu konu daha fazla ilgi görmüştür. Çin yatırımlarının nitelikleri özellikle devlet sermayesinin rolü ve uluslararası siyasetle iç içe geçmeleri itibariyle tartışma konusu olmuştur. Özellikle Çin'in uluslararası altyapı yatırımlarını öncelikli olarak jeopolitik motivasyonların şekillendirip şekillendirmediği önemli bir soru olmuştur. Bu makale, eleştirel bir literatür taraması ve gerek projelere gerekse Çinli şirketlerin ve bankaların işleyişi hakkındaki ampirik materyalin incelenmesi yoluyla bu soru etrafında bir tartışma yürütmektedir. Bu tartışma üç adımda yapılandırılmıştır. İlk olarak, Çin yatırımlarını üstlenen şirketlerin yapıları ve motivasyonları incelenerek, onları Çin dış politikasına hizmet eden “araçlar” olarak görmenin doğru olup olmadığı anlaşılmaya çalışılmaktadır. İkinci olarak, Çin finansmanının özellikleri, Çin’in politika bankalarının Çin devleti, piyasası ve borçlular ile olan ilişkileri ışığında tartışılmaktadır. Makale son olarak Çin merkezi hükümetinin yatırımların uygulanmasını ne düzeyde yönlendirdiği ve kontrol ettiğini incelemektedir. Çin'in uluslararası altyapı yatırımları devlet destekli olmakla birlikte, Çinli şirketlerin ve bankaların işleyişini öncelikli olarak ticari çıkarlar şekillendirmektedir. Çin liderliği bazı projelere diplomatik amaçlarla müdahale etmekle birlikte, Çin bankalarının ve şirketlerinin çıkarları projelerin tasarlanmasında ve uygulanmasında önemli bir rol oynamaktadır. Bu makale, devlet merkezli ve jeopolitik odaklı yorumlardan farklı olarak, Çin'in uluslararası altyapı yatırımlarının büyük ölçüde piyasa temelli bir olgu olarak şekillendiğini öne sürmektedir. Daha yüksek bir soyutlama düzeyine taşındığında, bu yatırımlar, geç kalkınan bir ülkenin şirketlerinin devlet desteğiyle uluslararasılaşmasını ifade etmektedir. Böyle bakıldığında, Çin yatırımlarını devletlerin küresel kapitalizmle ilişkisinde tanıdık bir stratejinin Çin’in tarihsel ve kurumsal özgünlüklerini taşıyan biçimi olarak yorumlamak mümkündür.

Anahtar Kelimeler:

Altyapı Yatırımları, Devlet, Piyasa, Jeopolitik, Çin

PDF

___

Alves A C (2017). China’s economic statecraft in Africa: The resilience of development financing from Mao to Xi. İçinde: M Li (der.), China’s Economic Statecraft: Co-optation, Cooperation and Coercion, Singapore: World Scientific, 213-240.
Bhandary R R, Gallagher K S, Jaffe A M, Myslikova Z, Zhang F, Petrova M, ... ve Yimere A (2022). Demanding development: The political economy of climate finance and overseas investments from China. Energy Research & Social Science, 93, 1-16.
Brautigam D (2009). The dragon's gift: the real story of China in Africa. Oxford: Oxford University Press.
Bräutigam D (2011a). Aid ‘with Chinese characteristics’: Chinese foreign aid and development finance meet the OECD‐DAC aid regime. Journal of international development, 23(5), 752-764.
Bräutigam D (2011b). Chinese development aid in Africa: What, where, why, and how much? Where, Why, and How Much. İçinde J Golley ve L Song (der.) Rising China: Global Challenges and Opportunities, Canberra: ANU E Press, 203-222.
Brautigam D (2020). A critical look at Chinese ‘debt-trap diplomacy’: The rise of a meme. Area Development and Policy, 5(1), 1-14.
Brautigam D ve Kidane W (2020). China, Africa, and Debt Distress: Fact and Fiction about Asset Seizures. China-Africa Research Initiative, Policy Brief no. 47.
Bunte J B, Gertz G, ve Zeitz A O (2022). Cascading noncompliance: why the export credit regime is unraveling. Review of International Political Economy, 29(5), 1395-1419.
CAITEC, SASAC, UNDP (2017). Report on the Sustainable Development of Chinese Enterprises Overseas. https://www.undp.org/china/publications/2017-report-sustainable-development-chinese-enterprises-overseas.
Camba A (2020). The Sino‐centric capital export regime: State‐backed and flexible capital in the Philippines. Development and Change, 51(4), 970-997.
Carroll T ve Jarvis D (2022). Understanding the State in relation to Late Capitalism: A Response to “New” State Capitalism Contributions. Antipode, 54(6), 1715-1737.
Chang H J (2002). Kicking away the ladder. Development Strategy in Historical Perspective. London: Anthem Press. Chellaney B (2017). China’s Debt-Trap Diplomacy. Project Syndicate. https://www.project-syndicate.org/commentary/china-one-belt-one-road-loans-debt-by-brahma-chellaney-2017-01?barrier=accesspay
Chen M (2020a). State actors, market games: Credit guarantees and the funding of China Development Bank. New political economy, 25(3), 453-468.
Chen M (2020b). Beyond donation: China’s policy banks and the reshaping of development finance. Studies in Comparative International Development, 55(4), 436-459.
Chen M (2021). Infrastructure finance, late development, and China’s reshaping of international credit governance. European journal of international relations, 27(3), 830-857.
Chin G T ve Gallagher K P (2019). Coordinated credit spaces: The globalization of Chinese development finance. Development and change, 50(1), 245-274.
Demirduzen C ve Thies C G (2022). A role theory approach to grand strategy: horizontal role contestation and consensus in the case of China. Journal of Global Security Studies, 7(1), ogab018.
Eliküçük Yildirim N ve Yilmaz G (2022). Use/misuse of Chinese BRI investment? BRI-related crony capitalism in Turkey. Southeast European and Black Sea Studies, 1-19.
Ergenç C ve Göçer D (2022). BRI Engagement and State Transformation in the Middle East: A Case Study on Turkey. İçinde D.Pavlicevic & N. Talmacs (der.), The China Question: Contestations and Adaptations (ss. 93-112). Singapore: Springer Nature Singapore.
Gelpern A, Horn S, Morris S, Parks B ve Trebesch C (2021). How China lends: A rare look into 100 debt contracts with foreign governments. Center for Global Development Working Paper 573.
Gerschenkron A (1962). Economic backwardness in historical perspective. İçinde A. Gerschenkron, Economic backwardness in historical perspective: A book of essays. Cambridge MA: Belknap Press of Harvard University Press, 1-30.
Gonzalez-Vicente R (2019). Make development great again? Accumulation regimes, spaces of sovereign exception and the elite development paradigm of China's Belt and Road Initiative. Business and Politics, 21(4), 487-513.
Goodfellow T ve Huang Z (2021). Contingent infrastructure and the dilution of ‘Chineseness’: Reframing roads and rail in Kampala and Addis Ababa. Environment and Planning A: Economy and Space, 53(4), 655-674.
Gürel B ve Kozluca M (2022). Chinese investment in Turkey: The belt and road initiative, rising expectations and ground realities. European Review, 30(6), 806-834.
Grgić M (2019). Chinese infrastructural investments in the Balkans: political implications of the highway project in Montenegro. Territory, Politics, Governance, 7(1), 42-60.
Jenkins R (2019). How China is reshaping the global economy: Development impacts in Africa and Latin America. Oxford University Press.
Jepson N (2021). Hidden in plain sight: Chinese development finance in Central and Eastern Europe. Development and Change, 52(5), 1222-1250.
Jones L ve Hameiri H (2020). "Debunking the myth of ‘debt-trap diplomacy’." Chatham House 19.
Jones L ve Zou Y (2017). Rethinking the role of state-owned enterprises in China’s rise. New political economy, 22(6), 743-760.
Jones L ve Zeng J (2019). Understanding China’s ‘Belt and Road Initiative’: beyond ‘grand strategy’to a state transformation analysis. Third World Quarterly, 40(8), 1415-1439.
Hameiri S ve Jones L (2018). China challenges global governance? Chinese international development finance and the AIIB. International Affairs, 94(3), 573-593.
Hopewell K (2021). Power transitions and global trade governance: The impact of a rising China on the export credit regime. Regulation & governance, 15(3), 634-652.
Kragelund P (2011). Back to BASICs? The rejuvenation of non‐traditional donors’ development cooperation with Africa. Development and change, 42(2), 585-607.
Krpec O ve Wise C (2022). Grand Development Strategy or Simply Grandiose? China's Diffusion of Its Belt & Road Initiative into Central Europe. New political economy, 27(6), 972-988.
Lee C K (2017). The specter of global China: Politics, labor, and foreign investment in Africa. University of Chicago Press.
Liao J C ve Katada S N (2022). Institutions, ideation, and diffusion of Japan’s and China’s overseas infrastructure promotion policies. New political economy, 27(6), 944-957.
Liu H ve Lim G (2022). When the state goes transnational: The political economy of China’s engagement with Indonesia. Competition & Change, doi: 10245294221103069.
Liu I T ve Dixon A D (2022). What does the state do in China’s state-led infrastructure financialisation?. Journal of Economic Geography.
Lin J Y ve Yan W (2017). Going Beyond Aid: Development Cooperation for Structural Transformation. Cambridge: Cambridge University Press.
Malik A, Parks B, Russell B, Lin J, Walsh K, Solomon K, Zhang S, Elston T ve Goodman S (2021). Banking on the Belt and Road: Insights from a new global dataset of 13,427 Chinese development projects. Williamsburg, VA: AidData at William & Mary.
Matura T (2021). Chinese Investment in Central and Eastern Europe: A reality check. Research Report, Central and Eastern European Center for Asian Studies, April 2021 Budapest.
Mawdsley D E (2012). From recipients to donors: emerging powers and the changing development landscape. Bloomsbury Publishing.
Mawdsley E, Murray W E, Overton J, Scheyvens R, ve Banks G (2018). Exporting stimulus and “shared prosperity”: Reinventing foreign aid for a retroliberal era. Development Policy Review, 36, O25-O43.
Milhaupt C J ve Zheng W (2014). Beyond ownership: State capitalism and the Chinese firm. Geoorgetown Law Journal, 103(3), 665-722.
Mohan G (2021). Below the Belt? Territory and Development in China's International Rise. Development and Change, 52(1), 54-75.
Rolland N (2017). China's “Belt and Road Initiative”: Underwhelming or game-changer?. The Washington Quarterly, 40(1), 127-142.
Rogers S (2022) Illiberal capitalist development: Chinese state-owned capital investment in Serbia, Contemporary Politics, 28(3), 347-364.
SASAC (2022). Yang qi ming lu (Merkezi Devlet Şirketleri Rehberi). http://www.sasac.gov.cn/n2588045/n27271785/n27271792/c14159097/content.html. Son erişim tarihi, 18.02.2023.
Sato J, Shiga H, Kobayashi T ve Kondoh H (2011). ‘Emerging Donors’ from a Recipient Perspective: An Institutional Analysis of Foreign Aid in Cambodia. World Development 39 (12), 2091–2104.
Shambaugh D L (2013). China goes global: The partial power. Oxford: Oxford University Press.
Sheehan S (2017). The Problem With China’s One Belt, One Road Strategy. The Diplomat. https://thediplomat.com/2017/05/the-problem-with-chinas-one-belt-one-road-strategy/
Summers T (2016). China’s ‘New Silk Roads’: sub-national regions and networks of global political economy. Third World Quarterly, 37(9), 1628-1643.
Wang B ve Li X (2017). From world factory to world investor: the new way of China integrating into the world. China Economic Journal, 10(2), 175-193.
Woods N (2008). Whose aid? Whose influence? China, emerging donors and the silent revolution in development assistance. International affairs, 84(6), 1205-1221.
World Bank. (tarih yok). IBRD Financial Products https://treasury.worldbank.org/en/about/unit/treasury/ibrd-financial-products/lending-rates-and-fees. Son erişim tarihi, 19.04.2023.
World Bank (2022). What is IDA? https://ida.worldbank.org/en/what-is-ida. Son erişim tarihi, 19.04.2023.
Ye M (2020). The Belt Road and beyond: state-mobilized globalization in China: 1998–2018. Cambridge University Press.
Ye M (2021). Fragmented Motives and Policies: The Belt and Road Initiative in China. Journal of East Asian Studies, 21(2), 193-217.
Xu Y C (2014). Chinese state-owned enterprises in Africa: ambassadors or freebooters?. Journal of Contemporary China, 23(89), 822-840.
Zhang D ve Smith G (2017). China’s foreign aid system: structure, agencies, and identities. Third World Quarterly, 38(10), 2330-2346.
Zhang H (2021a). Builders from China: From Third-World Solidarity to Globalised State Capitalism, Made in China Journal https://madeinchinajournal.com/2021/12/01/builders-from-china-from-third-world-solidarity-to-globalised-state-capitalism/.
Zhang H (2021b). Chinese International Contractors in Africa: Structure and Agency Working Paper No. 2021/47. China Africa Research Initiative, Johns Hopkins University, Washington, DC.