China helps Africa where West failed

[General Duke]

China helps Africa where West failed -state bank

 

Thu Oct 18, 2007 4:34am EDTBEIJING, Oct 18 (Reuters) - China is spreading prosperity in Africa where the West failed, a Chinese bank official said on Thursday in a sharp rebuke to critics of his country's growing role in the world's poorest continent.

 

Li Ruogu, president of China's state-owned Export-Import Bank, key funder of China's push into Africa, said roads and radios were more urgent needs for Africans than human rights and freedom, and that China was delivering such concrete benefits.

 

"Western colonialism over 400 years in Africa did not bring any development and wealth," Li said. "But China has brought many benefits to Africa."

 

After $50 billion in debt write-offs for impoverished countries mainly in Africa last year, Western donors fear China's expanding economic links with the continent could lead to a build-up in burdensome debts all over again.

 

Speaking in Chinese during a meeting on the sidelines of China's Communist Party Congress, Li switched to English momentarily to characterise Western criticism as "totally groundless and totally fabrication".

 

Lack of transparency from China on details of its investments and aid in Africa has also alarmed Western donors, who have watched China become a major investor in countries such as Angola and Sudan that are accused of violating human rights.

 

"Western countries talk about human rights and freedom every day, but if the people there can't even watch television or listen to radio, how can they enjoy human rights and freedom?" Li said.

 

China has recently claimed credit for persuading Sudan to accept U.N peacekeepers in the troubled Darfur region and it has won praise from the United States for its "constructive role" in dealings with Khartoum.

 

ExIm Bank has also been working to address some concerns of international donors, signing a Memorandum of Understanding with the World Bank earlier this year to improve coordination of development projects.

 

As one of China's three policy lenders that make loans explicitly in support of government policies, ExIm Bank has invested in some 300 projects across Africa with a focus on building roads, railways, ports and mines.

 

China argues its own rapid growth and experience in lifting more than 400 million people out of poverty over past 20 years could provide valuable lessons to Africans.

 

"I visited Africa 11 times within two years, and I can feel the strong desire of African people and governments to develop the local economy and cooperate with China", he said.

[ailamos]

The Arabs exploited Africa, then the Europeans, followed by America, now China is exploiting Africa, then India will exploit Africa, followed by Brazil, then XXXX will exploit Africa, so on and so forth...

 

XXXX = insert emerging economy

[General Duke]

^^^One needs to stop wanting to be a victim. Africa is exporting its commodities to China, India , EU and will get cash. No more UN, rations.

 

The Western fear of China is well noted.

[-Serenity-]

I agree with Ailamos over there, if the Chinese and Indians get a hold of the African market, you bet they are going to flood it with their cheap products and services and run any local and homegrown business out of job, only to hike up the prices and hold the market by the gonads going forth.

 

Africans need to come together and stop looking to the west or east for assistance.

[B]

xxxx= possibly Indonesia, Turkey, Iran or maybe one of the African countries themselves - Egypt, South Africa or even Nigeria.

[General Duke]

Africans need to come together and stop looking to the west or east for assistance.

Exporting commodities is not looking for assistance, things have improved a great deal. Also no one will get hold of African Markets, and how on earth can a contenent come together?

 

XXXX= Somali's will get hold of East African markets..

[B]

^^I agree with this. Somalis already have a stranglehold on the Kenyan economy, partially control some aspects of the Ethiopian economy. Add to that list Djibouti.

[ailamos]

On the Entrepreneurial Spirit of the Somalis

In a paper about Somalia, Tatiana Nenova writes that "...the private sector has demonstrated its much-vaunted capability to make do. To cope with the absence of the rule of law, private enterprises have been using foreign jurisdictions or institutions to help with some tasks, operating within networks of trust to strengthen property rights, and simplifying transactions until they require neither. Somalia’s private sector experience suggests that it may be easier than is commonly thought for basic systems of finance and some infrastructure services to function where government is extremely weak or absent..." A discussion analysing this assertion had a number of conclusions in their introductory remarks Ian Bannon and Tim Harford stated that "...Entrepreneurs in Somalia have used three tactics to operate in an institutional vacuum. First, they have “imported institutions,” for example by using banking systems in nearby countries. Second, they have used clans and other local networks of trust to help with contract enforcement, payment and transmission of funds. Third, they have simplified transactions to a point where other tactics are not needed. How can these tactics be reinforced or defended? Are there others that can be supported? There are inherent limits to what the private sector can achieve without the support of a capable state to enforce property rights and provide basic public goods. But there is also a risk that a failed state will be replaced by a predatory one. How can fledgling states be encouraged to support, rather than predate on, entrepreneurs?

Entrepreneurs often need to bridge religious, ethnic or tribal boundaries to get things done. Can entrepreneurship be harnessed for peace and reconciliation?..."

[-Serenity-]

Originally posted by General Duke:

how on earth can a contenent come together?

Erm, maybe like the European Union!

[General Duke]

^^^Yeah and Africa has the AU. Which has not had any economic clout yet.

 

However the biggest change will be when there is inter continental trade, thats when the continent economies will boom.

[Cawaale]

 

China is looking for metals or resources in about every where in the world, be it in Somalia(puntland) or Sudan. Nobody is helping nobody. and its hardly a mutual interest if you ask me.

[Peacenow]

What about the plight of the Uyghur people. Who's land is being flooded with the Han chinese in order to claim it for themselves.

Funny, how all these people go on about Israel. At least the Jews have claims to the land, while they ignore what the Chinese do.

 

http://en.wikipedia.org/wiki/Uyghur_people

[grasshopper]

^^ The best article I've ever read about their tragic situation was in National Geographic's Dec/09 issue...

The Other Tibet (Photos)

The Uygurs, Muslim people of China’s resource-rich far west, are becoming strangers in their own land as Han Chinese pour in. Like the Tibetans, who face similar pressures, some Uygurs see a chance for a better life, but others protest the disintegration of their culture, even at the risk of death.

[General Duke]

The Uygurs, Muslim people of China’s: Thats a tragic plight.

 

However stick to the topic, Peacenow adeer, dont get side tracked I know you must as a "civilised" fellow who lives in the city fo Milan, would welcome the progress the Chinese have made and how it can help Africa, noh?

[Chimera]

Originally posted by Cawaale:

 

Lol typical Dailymail with their Fu Manchu complex.