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China investment in Africa
As the Obama administration draws the United States down deeper into the abyss of debt and deficits, China continues investing around the world with economic consequences.
No where is this more evident than in Africa, according to authors Serge Michel andMichel Beuret in their book "China Safari: On the Trail of Beijing's Expansion in Africa" (Nation Books). The authors recount that Chinese inroads into Africa got a start in 1995, when Chinese leaders urged Chinese businessmen to "Go abroad! Become world players!"
Since that time, trade between Africa and China have grown dramatically, growing to $55 billion from 2000 to 2006 with an expected figure of $100 billion to be reached by 2010. Chinese business interests in Africa range from oil, lumber, refining, agriculture, mining, textiles, banking, to construction of dams, railroads, highways, bridges, airports and housing.
In some opinions, China is using Africa to get where the United States is now, and then surpass it. At this time, there are about 750,000 Chinese living and working in Africa in countries such as South Africa, Nigeria, Zambia, Sudan, Algeria, Congo, Zimbabwe, Mozambique, Angola, Gabon, Guinea, Ethiopia, Cameroon, Egypt and Chad.
The response from many African leaders is positive about the mix of Chinese authoritarianism and capitalism in business affairs accompanied by emphasis on efficiency and the fact that their words are backed up by concrete actions. This is in contrast to what the Africans describe as the "colonial arrogance" of the West.
This is not to say that there is not some discontent among African leaders with accusations of mistreatment of African laborers by Chinese bosses and virulent racism in contradiction to the Sino image of discretion and humility. However, it is expected that the joining of Chinese and African interest will be successful to the determent of the West.
Meanwhile, the United States remain bogged down in the one of the worst financial quagmires in its history with weak and inexperience leadership at its helm, adrift in ideology that China is leaving behind as it takes America's place in the capitalist world.
To read the entire book review, go to
http://www.nytimes.com/2009/07/19/business/19shelf.html?_r=1&emc=tnt&tntemail1=y
To learn about China and the U.S. dollar, go to:
http://www.nytimes.com/2009/07/19/business/19shelf.html?_r=1&emc=tnt&tntemail1=y
More about China's activities around the world, go to:
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