Understanding institutional change: Fiscal management in Local China

As China's economy continues to grow, it wants to expand its markets and secure reliable supplies of resources in support of its economic development. Resource diplomacy therefore becomes a prominent feature of its modernisation diplomacy. In turn, many African governments perceive political and economic ties with China to be an important asset, which strengthens their international bargaining power, especially vis-à-vis Western governments. African countries are also depicted as China's reliable political and economic partners, though one can hardly afford to be optimistic regarding Africa's peace and development in the future. Many small African governments have been switching diplomatic recognition between Taipei and Beijing for economic assistance too. Chinese leaders have no intention of engaging in diplomatic and strategic competition with the USA and the European Union in Africa, but they certainly will not co-operate with Western governments in helping Africa because they want to push for multipolarity.