Tuesday, 8 December 2015

China is Africa's new colonial enslaver

"China has become Africa's largest trade partner, and has just promised an impressive $60bn (£40bn) in assistance and loans to boost development of the continent.

Yet the relationship is not simply about new roads, mines and military power. Traders from across Africa now live and work in China, while tens of thousands of Chinese nationals have moved in the opposite direction.".... BBC News

"What the Chinese are silent about is that their country's growing engagement in Africa has created both opportunities and risks for African development. Although China's trade, foreign direct investment (FDI), and aid may broaden Africa's growth options, they also promote what can only be called a win-lose situation. For, excluding oil, Africa has a negative trade balance with China.

Making matters worse, African exports to China are even less technology-intensive than its exports to the world. China's share of Africa's unprocessed primary products was more than 80% of its total imports from Africa. Equally, imports consist of cheap Chinese products of appallingly poor quality."... The Guardian

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