Assessing China and Angola relations: the implications of the 'Angola model’ of economic development

The increasingly close relationship between China and Africa has been extensively discussed in the international media as well as within the academic sphere: African countries play a key role in China's multi-billion project 'Belt and Road Initiative' (BRI) because the continent represents an important market opportunity for China to expand businesses and increase exports; on the receiving end, African leaders have been eager to take advantage of loans and credit lines offered by Beijing in order to spur economic development at home. Even though the BRI is said to be an economic project envisioned by the Chinese government, it has often been regarded as a tool of foreign policy as Beijing has deployed it to establish and strengthen diplomatic ties with developing countries, thus reshaping the geopolitical order. In the context of Africa, Angola has emerged as oneof China's main trading partners and much of the relationship between the two countries has centred around the use of Angola's vast oil reserves to secure infrastructure financing. This model of resource backed credit became known as 'the Angolan Model' and it was further adopted in other countries in Africa and Latin America. More than a decade after the first loan was secured, Angola finds itself in a fragile position: oil prices have hit record low levels in 2020, its economy struggles to grow and 45percent of its debt is owed to China. This paper aims to explore the relationship between China andAngola within the BRI framework, the merits and pitfalls of the 'Angolan model' of economic development, and proposes a reflection on the emerging role of China as a leading actor in the global political economy.