The choice for Africa is obvious, despite the accusation of debt traps.
A
fair exchange of aid for resources, with infrastructures to show, is
better than getting little aid, with exploitation of resources and no
infrastructures to show.
Africa has its right to progress. Just
for being poor and therefore denied opportunities to progress does not
mean aid should not be extended. Even if it is unsustainable, as
propagandized, China did what is necessary. After all, lifting people
out of poverty is what China does best, with more than 850 million of
its own citizens now lifted out of poverty, it is already a glowing
testimonial that cannot be denied. China is now extending that poverty
eradication globally. Not in rich USA and Europe by the way, LOL.
Anonymous
PS. In maany ways Africa is like China, a huge land mass, more than 1 billion population, an agrarian economy, lacking in infrastructure. And a people with little education, unskilled workers, lack of technical expertise and skilled labour, and lack of funds.
This was how China started in 1949 and the modernisation expedited after 1978 to what it is today. China has the perfect blue print for Africa. Caveat, China was one country and one system.
5 comments:
Africa, not India, is the next China . . .
Africans are pragmatic. China was no richer than Africa more than three decades ago. Within that space of time, China lifted 850 million Chinese out of poverty. If that is not a testimonial of China's humanity, what else is to be taken as the hallmark of China's capability?
And China is helping Africa in the same way, with no bias against the stigma of being poor and should be left to fester. What is wrong with China providing aid to Africa to be paid back in resources extracted by joint ventures formulated to ensure a win-win situation? Like China today, progress in Africa is an affront to the West's intention to keep Africa poor and dependent on their colonization and pilfering of resources. All the wars that the colonial powers created benefited the Anglo-Saxon Whites and brought sufferings to the Africans. Is that what African's want going forward?
But on social media, India is touted as the next China. India is already a self-anointed superpower, a self-declared next factory of the world, even bigger than China. The self-declared importance has lately been deflated by the news that Apple is moving some production back to China and Foxconn is building another facility in China to provide service to Apple.
India denied BYD's intention to build a EV plant in India, which in my opinion is a blessing in disguise for BYD. Now BYD is building that plant in Pakistan instead. Pakistan is delighted with the BYD investment.
Countries should not think that opportunities for building factories cannot succeed without them, as the world is so big, and countries elsewhere are extending open arms to invite such investments to grow their economy.
The frenzy to invest elsewhere by China is evident, as China has accumulated so much trade surplus to do exactly that. China has to find alternatives to recycle those surplus rather than investing them in risky USA assets like Treasuries. The confiscation of US$300 billion by the West is a very important lesson for China to divest its US$ holdings. More so now that the USA is instigating all the confrontation against China.
Volkswagen is closing two plants in Germany and keeping its plants in China. What does this mean?
Germany is going to claim that China is stealing their jobs.
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