Summary from signandsight
full article granta.com/extracts/2616
Yes, the Chinese are going where no one wants to go, and they’re bringing truckloads of cash.
I imagine they will create a Chinese upper class, just as they did in SE Asia. The book World On Fire provides excellent examples of this kind of situation, where foreigners basically run a country because they have the financial backing.
Good for them. Africa is truly mucked up and I’d like to see someone WORK with them and not try to keep them from starving or killing each other. The aid will still go in and be blown on warlords and dictators. But business…hmmm, people who make money will spend it.
Wealth making is the ONLY plan right now. With wealth comes power, with power comes peace…THEN things will get interesting.
To many countries, an added attraction is what the Chinese are not bringing: judgements about the countries that they invest in.
Wealth making is the ONLY plan right now. With wealth comes power, with power comes peace…THEN things will get interesting.[/quote]
What makes you think that the money China puts into those countries doesn’t end up in a swiss account of the ruling elites families, as usual? and nothing else changes.
I think Western money with strings attached (i.e. spend a certain amount on health care and schools) does those countries better than Chinese “we don’t care as long as we get our oil/ore” money.
China as it is today cannot have a positive influence on Africa. If China doesn’t care about the rights of its own people, they surely won’t give any thought to the state of the African societies they do business with.
The big boys are coming in.
[quote]SINGAPORE/HONG KONG (Reuters) - CNOOC Ltd. is buying a stake in a Nigerian oil and gas field for about $2 billion in what would be the Chinese offshore producer’s largest ever overseas acquisition, people familiar with the situation said on Monday. The transaction will be announced soon, the sources, who spoke on condition of anonymity, told Reuters.
If completed, the purchase of a major stake in the yet-to-be-developed Akpo deepwater field, operated by global major Total
Earlier on Monday, another source familiar with the transaction told Reuters that CNOOC was buying the stake.
That source declined to reveal more details of CNOOC’s planned purchase from little-known Nigerian company South Atlantic Petroleum, which sources say is controlled by former Nigerian Defense Minister Theophilus Danjuma.[/quote]
The PLA has had a presence in Africa since the late '70’s. Who do you think was one of the main funding and weapons sources of the ANC?
Very helpful with Mugagbe also.