Saturday, June 30, 2012

China in Africa investing in land etc.

TPM Barnett also has an essay about a new book and a NYTimes editorial onChina inAfrica.

the book he reviews defends China against charges of neoImperialism, using it's own people instead of local employees, and of course, supporting dictators and corrupt leaders.

Yes, folks someone is shilling for China.

He then adds his opinion:

My take: the more China gets into Africa, the more it enmeshes its interests with the locals, who, in turn, become more demanding of better deals - just like Chinese labor back home. Will it be a nice process? Hardly ever is, judging by history. But an unsurmountable process? Not if China is as highly incentivized regarding back-home stability as Moyo argues here (and I agree).

After ripping African leaders a new one, Moyo ends powerfully with this: With approximately 60 percent of Africa’s population under age 24, foreign investment and job creation are the only forces that can reduce poverty and stave off the sort of political upheaval that has swept the Arab world.

And China’s rush for resources has spawned much-needed trade and investment and created a large market for African exports — a huge benefit for a continent seeking rapid economic growth. No argument from me on that. China is creating connectivity and opportunity - more so than the West right now. The West is still a far bigger player in Africa, but China is the most dynamic agent right now.

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