Kleptocracy and Foreign Loan Decision-Making Process: Insights From Malaysia's Deals and Renegotiations With China

IF 2.4 2区社会学 Q1 AREA STUDIES

Journal of Current Southeast Asian Affairs Pub Date : 2021-12-21 DOI:10.1177/18681034211058470

A. Abadi

引用次数: 0

Abstract

One the largest cases of kleptocracy is attributed to the 1Malaysia Development Berhad (1MDB) scandal involving the former Malaysian Prime Minister, Najib Razak. As a result of the pressure to pay the debt, Najib signed multiple inflated infrastructure loans from China in 2016. This study analyses the manipulation of Public Service Bargains as a critical variable influencing the foreign loan decision-making of the kleptocrat leader. It concludes that Najib's manipulation strategies transformed the established Trustee-type to kleptocratic-type bargains in Malaysia's foreign loan decision-making process. The post-Najib's restoration of Trustee-type bargains under the new Malaysian government, followed by a series of successful renegotiations with China, attest to the significance of the Public Service Bargains system on the foreign loan decision-making process. This analysis also contributes to the wider discussion on the critical side of China's Belt and Road Initiative amidst a global call for good governance.

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盗贼统治和外国贷款决策过程:来自马来西亚与中国的交易和重新谈判的见解

迫于偿还债务的压力，纳吉布在2016年从中国签署了多项夸大的基础设施贷款。本研究分析了公共服务交易操纵作为影响盗贼统治领导人对外贷款决策的关键变量。它的结论是，纳吉布的操纵策略将马来西亚对外贷款决策过程中既定的托管型转变为盗贼统治型讨价还价。纳吉布执政后，马来西亚新政府恢复了托管式协议，随后又与中国进行了一系列成功的重新谈判，这证明了公共服务协议制度在外国贷款决策过程中的重要性。这一分析也有助于在全球呼吁善治的背景下，对中国“一带一路”倡议的关键方面进行更广泛的讨论。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Current Southeast Asian Affairs Social Sciences-Political Science and International Relations

CiteScore

5.00

自引率

0.00%

发文量

审稿时长

8 weeks

期刊介绍： The Journal of Current Southeast Asian Affairs, published by the GIGA Institute of Asian Studies (IAS) in Hamburg, is an internationally refereed journal. The publication focuses on current developments in international relations, politics, economics, society, education, environment and law in Southeast Asia. The topics covered should not only be oriented towards specialists in Southeast Asian affairs, but should also be of relevance to readers with a practical interest in the region. For more than three decades, the Journal of Current Southeast Asian Affairs (formerly Südostasien aktuell) has regularly provided – six times per year and in German - insightful and in-depth analyses of current issues in political, social and economic life; culture; and development in Southeast Asia. It continues to be devoted to the transfer of scholarly insights to a wider audience and is the leading academic journal devoted exclusively to this region. Interested readers can access the abstracts and tables of contents of earlier issues of the journal via the webpage http://www.giga-hamburg.de/de/publikationen/archiv.