This paper is not intended as an empirical assessment of the benefits of the Extractive Industries Transparency Initiative (EITI). It is, rather, an evaluation of the theoretical presumptions that underpin the discussion about its benefits for Asian economies in general, and China in particular. The paper finds that, despite its well meaning objectives, the EITI might be of limited value for China and its Asian peers, not only because it faces general problems about legitimacy in non-Western circles, as do most Western-led multi-stakeholder partnerships, but also because the principles or values that it promotes are not aligned with China's culture, philosophy and business interests. The paper concludes with suggestions on how a stronger ‘business case’ for China's participation can be made. Copyright © 2010 John Wiley & Sons, Ltd and ERP Environment.
- Multi-stakeholder partnerships
- National oil companies