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Elite Dynamics and China's Influence in Latin America

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  • Benedicte Bull
  • Antulio Rosales

Abstract

The rise of China as a trading partner, lender and investor is among the most significant developments in the global political economy over the last two decades. This shift has created important new opportunities for developing countries, but it has also introduced new challenges, with benefits and drawbacks unevenly distributed across different nations. This article argues that understanding the developmental consequences of China's involvement requires studying not only Chinese priorities and modalities but also the interests and strategies of local elites. The development of Latin America has been profoundly influenced by these elite interests, which are shaped by the region's integration into the global economy. Elites may leverage the benefits of the relationship to China to enhance their rent‐seeking capabilities and limit competition, thereby hindering development and perpetuating inequality in Latin America. This argument is examined through the contrasting cases of Chile and Venezuela; while Chile's approach to China has been dominated by private sector elites, Venezuela's approach has been driven by governmental elites. In both cases, integration with China is shaped by and has in turn strengthened interests and strategies of the elites.

Suggested Citation

  • Benedicte Bull & Antulio Rosales, 2024. "Elite Dynamics and China's Influence in Latin America," Development and Change, International Institute of Social Studies, vol. 55(6), pages 1206-1229, November.
    • Handle: RePEc:bla:devchg:v:55:y:2024:i:6:p:1206-1229
    DOI: 10.1111/dech.12861
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    References listed on IDEAS

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    1. Gallagher, Kevin P., 2016. "The China Triangle: Latin America's China Boom and the Fate of the Washington Consensus," OUP Catalogue, Oxford University Press, number 9780190246730.
    2. José Miguel Ahumada, 2019. "The Political Economy of Peripheral Growth," Springer Books, Springer, number 978-3-030-10743-7, October.
    3. Antulio Rosales, 2019. "Radical rentierism: gold mining, cryptocurrency and commodity collateralization in Venezuela," Review of International Political Economy, Taylor & Francis Journals, vol. 26(6), pages 1311-1332, November.
    4. Stephen B. Kaplan, 2016. "Banking unconditionally: the political economy of Chinese finance in Latin America," Review of International Political Economy, Taylor & Francis Journals, vol. 23(4), pages 643-676, July.
    5. Nadine Reis & Felipe Antunes de Oliveira, 2023. "Peripheral financialization and the transformation of dependency: a view from Latin America," Review of International Political Economy, Taylor & Francis Journals, vol. 30(2), pages 511-534, March.
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