Abstract
Challenger multinational corporations are an emerging phenomenon in global development dynamics. Whereas multinational corporations from the Global North have been at the forefront of foreign direct investments in the Global South, challenger multinational corporations are changing this paradigm by controlling a large proportion of investments within the hemisphere. Critiques from the Global North have, however, increasingly identified the dangers of debt traps iminent in the structure of existing economic relationships within the Global South. The consequent benefits arising from the relationships however still endear the countries of the Global South to one another.
References
Africa Defence Forum. (2023). As defaults mount, no clear exit plan for African countries, Chinese lenders. https://adf-magazine.com/2023/02/as-defaults-mount-no-clear-exit-plan-for-african-countries-chinese-lenders/
AGOA. (2001). Hillary Clinton: Chinese interests in Africa incompatible with our own. AGOA. Info. https://agoa.info/news/article/4781-hillary-clinton-chinese-interests-in-africa-incompatible-with-our-own.html
Alden, C., & Davies, M. (2006a). Chinese multinational corporations in Africa. http://www.cctr.ust.hk/materials/conference/china-africa/papers/Chris_Alden_Chinese_Multinational_Corporations.pdf
Alden, C., & Davies, M. (2006b). A profile of the operations of Chinese multinationals in Africa, 13(1, Summer/Autumn), 83–96.
Alonso, J., & Glennie, J. (2015, February). What is development cooperation? 2016 Development Cooperation Forum Policy Briefs, No 1. ECOSOC Development Cooperation Forum. ECOSOC.
Amusan, L. (2018). Multinational corporations’ (MNCs) engagement in Africa: Messiahs or hypocrites? Journal of African Foreign Affairs, 5(1), 41–62. https://www.jstor.org/stable/26664051
ANI. (2021, October 5). Chinese tale of enslaving South Sudan of its influence and leading to economic depreciation. https://sg.news.yahoo.com/chinese-tale-enslaving-south-sudan-212931604.html
Are, L., Chabene, S., Dupoux, P., Ivers, L., Michael, D. C., & Morieux, Y. (2010). The African challengers: Global competitors emerge from the overlooked continent. The Boston Consulting Group.
Bloningen, B. A. (2006). Foreign direct investment Behavior of multinational corporations. The National Bureau of Economic Research. NBEC Reporter: Research Summary Winter 2006.
Cabana, S. L. (2014). Chronology and history of South-South cooperation: An Ibero-American Contribution. Working Document Number 5, 2014.
Carter, B. (2017). A literature review in China’s aid. K4D Helpdesk report. https://assets.publishing.service.gov.uk/media/5a5f38d6e5274a443e00372b/177_China_aid.pdf
Cheong, D. (2022). Chinese debt traps in Southeast Asia: What the data say. Perspective, 1(88), 1–13.
Cohen, S. (2007). Multinationals and foreign direct investments: Avoiding simplicity, embracing complexity. Oxford University Press.
Dabour, N. (2000). The role of foreign direct investments in development and growth in OIC member countries. Journal of Economic Cooperation, 21(3), 27–55.
Dadvar, B. (2016). China’s role in African infrastructure development – Cooperation or Exploitation? https://lup.lub.lu.se/luur/download?func=downloadFile&recordOId=8891061&fileOId=8891062
Dupoux, P., Ivers, L. Niavas, S., & Chraïti, A. (2018). The companies Blazing a trail across the continent. https://www.bcg.com/publications/2018/pioneering-one-africa-companies-blazing-trail-across-continent
Elumelu, T. (2016). Africa has some of the world’s least competitive countries – but that could soon change. World Economic Forum. https://www.weforum.org/agenda/2016/05/africa-has-some-of-the-world-s-least-competitive-countries-but-that-could-soon-change/. Retrieved on 24 August, 2016.
Foley, C. F., Hines, J., & Wessel, D. (2021). Global goliaths: Multinational corporations in the 21st century economy. Brookings Institution Press.
Freeman, N. (2018). John Bolton says he wants to protect Africa from ‘Predatory’ Chinese behavior. What about Washington’s? https://fpif.org/john-bolton-says-he-wants-to-protect-africa-from-predatory-chinese-behavior-what-about-washingtons/
Hislop, D. (2005, July). The Social construction of international trade rules: The relationship between multinationals and the World Trade Organization. Paper presented at the stream on: Critical perspectives on researching and theorizing the multinational organization: Taking stock and future directions. At the 4th international critical management studies conference. Cambridge University.
Horn, S., Reinhart, C. M., & Trebe, C. (2022). Hidden defaults. Policy research working paper 9925. World Bank Group, 1–24.
Initiative for Global Development and Dalberg Global Development Advisors. (2011). Pioneers on the frontier: Sub-Saharan Africa’s multinational corporations. Initiative for Global Development and Dalberg Global Development Advisors. www.igdleaders.org
International Economic Law and Policy Blog. (2011). Is Chinese investment in Africa neo-colonialism? https://ielp.worldtradelaw.net/2011/06/is-chinese-investment-in-africa-neo-colonialism.html
Jones, C. D., Ndofor, H., & Li, M. (2022a). Chinese engagement in Africa: Implications for US policy. Africa Program. https://www.fpri.org/article/2022/01/chinese-economic-engagement-in-africa/
Jones, C. D., Ndofor, H., & Li, M. (2022b). Correlates of politics and economics: How Chinese investment in Africa changes political influence. Foreign Policy Institute.
Kakonge, J. O. (2014, July). The evolution of South-South cooperation: A personal reflection. Global Policy. Global Policy Essay.
Kema, I. (2013). Global political economy and the power of multinational corporations. Journal of Third World Studies, 30(2. Fall), 223.
Madeley, J. (2003, January–February). Transnational corporations and developing countries: Big business, poor peoples. The Courier ACP-EU no. 196.
Mathewman, J. (2012). The Bretton woods institutions and development partnerships. E-International Relations, 1–11. https://www.e-ir.info/2012/02/08/the-bretton-woods-institutions-and-development-partnerships
Meyns, P., & Musamba, C. (2010). The developmental state in Africa: Problems and prospects. INEF Report 101/2010. Institute for Development and Peace. University of Duisburg, Essen.
Mission of the People’s Republic of China to the European Union. (2022). The so-called China’s debt trap is a narrative trap. The Brussels Times, 1–3. http://eu.china-mission.gov.cn/eng/mh/202208/t20220826_10754334.htm
Mthombeni, M. S. (2006). The role of multinational corporations in South Africa: A political-economic perspective. Magister Artium Thesis. University of Free State.
OECD. (2000). Foreign direct investment for development: Maximizing benefits and minimizing costs. OECD.
Pananond, P., & Giroud, A. (2016). Asian emerging multinationals and the dynamics of institutions and networks. Asian Business and Management, 15, 255–263. https://doi.org/10.1057/s41291-016-0010-2
Republic of Uganda. (2022). Statement on European Union Parliament resolution on Eacop project. https://www.mediacentre.go.ug/sites/default/files/media/EU%20Minister_04-10-2022.pdf
Rugman, M., & Verbeke, A. (2002). The World Trade Organization, multinational enterprises, and the civil society, pp. 1–40. https://www.academia.edu/24884179/The_World_Trade_Organization_Multinational_Enterprises_and_the_Civil_Society_by
Sudan Tribune. (2022, December 13). Chinese embassy refutes claims of Juba airport takeover. https://sudantribune.com/article67474/
Sudan Tribune. Sudan praises Chinese support in international forums. https://sudantribune.com/article268020/
The Economist. (2008, January 12). Emerging-market multinationals. The challengers. A new breed of multinational company has emerged. https://www.economist.com/briefing/2008/01/10/the-challengers
The Guardian. (2001, October 2). Tony Blair speech. https://www.theguardian.com/politics/2001/oct/02/labourconference.labour6
UNDP. (2016). What is South-South cooperation? http://ssc.undp.org/content/ssc/about/what_is_ssc.html. Retrieved on 29 August, 2016.
United Nations Office of South-South Cooperation. (2018). South-south cooperation in a digital world. New York: UNDP.
Wan Yan Chan, M. E. M. (2018). China in Africa: A form of neo-colonialism? E-International Relations. https://www.e-ir.info/2018/12/02/china-in-africa-a-form-of-neo-colonialism
Were, A. (2018). Debt trap? Chinese loans and Africa’s development options. South African Institute of International Affairs. Policy Insights, 66, 1–24.
World Population Review. (2022). Global south countries. https://worldpopulationreview.com/country-rankings/global-south-countries
Yusuf, M. (2022, October 22). Kenya Denies it defaulted on debt to China. https://www.voanews.com/a/kenya-denies-it-defaulted-on-debt-to-china/6790020.html
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2024 The Author(s), under exclusive licence to Springer Nature Switzerland AG
About this entry
Cite this entry
Were, E.M. (2024). Locating Challenger Multinational Corporations in Global Development Paradigm Shifts. In: The Palgrave Handbook of Global Social Change. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-87624-1_212-2
Download citation
DOI: https://doi.org/10.1007/978-3-030-87624-1_212-2
Received:
Accepted:
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-87624-1
Online ISBN: 978-3-030-87624-1
eBook Packages: Springer Reference Social SciencesReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences
Publish with us
Chapter history
-
Latest
Locating Challenger Multinational Corporations in Global Development Paradigm Shifts- Published:
- 08 May 2024
DOI: https://doi.org/10.1007/978-3-030-87624-1_212-2
-
Original
Locating Challenger Multinational Corporations in Global Development Paradigm Shifts- Published:
- 15 August 2023
DOI: https://doi.org/10.1007/978-3-030-87624-1_212-1