Da Gama, Francisca and Bui, Kim (2024) Hegemon or South-South partner? The ambiguity of Chinese foreign direct investment in Peru. Critical Perspectives on International Business, 20 (4). pp. 443-463. ISSN 1742-2043 (Online) (doi:10.1108/cpoib-10-2022-0112)

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Abstract

Purpose - This paper proposes a framework for evaluating the relationship between China and Peru drawing on dependency theory against the backdrop of China’s explicit policies towards foreign direct investment. It seeks to transcend traditional interpretations of this relationship in the literature that focuses on China as either hegemon or a South-South partner to Latin American countries to highlight a more nuanced relationship. 
Design/methodology/approach - The paper adopts a case study approach focusing on China in Peru. We examine three areas of traditional, strategic and emerging industries drawing from Chinese national policies, reviewing these against characteristics of dependency: control of production, heterogeneity of actors, transfer of knowledge and delinking.
Findings - We find that Chinese FDI in Peru demonstrates mixed motives and collectively operates as an ambiguous player. Chinese firms appear to be willing to work with various actors but this engagement does not translate into a decolonial development alternative in the absence of a Peruvian political will to delink and Chinese willingness to actively transfer control of production and knowledge. 
Originality/value – This paper contributes to existing literature on China in Latin America by evaluating Chinese OFDI in Peru against China’s strategic aims in terms of a re-evaluation of dependency theory.

Item Type:	Article
Uncontrolled Keywords:	China; Peru; foreign direct investment; dependency; South-South partnership
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HF Commerce H Social Sciences > HG Finance
Faculty / School / Research Centre / Research Group:	Greenwich Business School Greenwich Business School > Networks and Urban Systems Centre (NUSC) Greenwich Business School > School of Business, Operations and Strategy
Last Modified:	19 Sep 2024 16:16
URI:	http://gala.gre.ac.uk/id/eprint/46208

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