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Why Africa Chose China (You Won't Believe What China Built Now)
- Thread starter LaoTze
- Start date
What is the point of building advance infrastructure when you be in debt forever ?
You need a market to send your produce to.
You need demand for your goods and not building of infrastructure.
You need investment so that businesses can actually hire your own people and move goods to your nation to produce jobs. or the MNC can source their raw material from your country.
You need a market to send your produce to.
You need demand for your goods and not building of infrastructure.
You need investment so that businesses can actually hire your own people and move goods to your nation to produce jobs. or the MNC can source their raw material from your country.
To cut a long story short:
1. China has made real investments in Africa in terms of infrastructure, agriculture, technology transfer and job creation. These have genuinely benefited the Africans. Of course, it's not a zero-sum game: Africa has minerals and rare earth metals that China needs for its high tech manufacturing.
2. The US and their MNCs, on the hand, have exploited Africa by trade mis-pricing (tax dodging), repatriation of money from 'investment projects' back to parent companies, forcing open African markets (through trade policies) to Western products while making African products less competitive by banning subsidies, and misappropriating resources, without giving back the Africans anything in terms of technology transfer, jobs and development infrastructure (roads, bridges, schools, dams). Not to mention instigating civil strife so that their big defence and infrastructure contractors can swoop in and make big bucks in post-conflict 'restoration'.
It's a no-brainer that Africa chose China.
1. China has made real investments in Africa in terms of infrastructure, agriculture, technology transfer and job creation. These have genuinely benefited the Africans. Of course, it's not a zero-sum game: Africa has minerals and rare earth metals that China needs for its high tech manufacturing.
2. The US and their MNCs, on the hand, have exploited Africa by trade mis-pricing (tax dodging), repatriation of money from 'investment projects' back to parent companies, forcing open African markets (through trade policies) to Western products while making African products less competitive by banning subsidies, and misappropriating resources, without giving back the Africans anything in terms of technology transfer, jobs and development infrastructure (roads, bridges, schools, dams). Not to mention instigating civil strife so that their big defence and infrastructure contractors can swoop in and make big bucks in post-conflict 'restoration'.
It's a no-brainer that Africa chose China.
Stay aFrica need hire bodyguard le
First of all, you need the foundation to make these economy to work.
That means proper roads and echools and electricity grid.
Once in place, the rest will naturally fit in.
The point of building such infrastructure is to create job for your own people and move your country's GDP. Not for China to bring in large NOS of labour and material to bring your country into debts.
The Chinese firms employ largely local African labour, thus providing many unemployed Africans with jobs. They only bring in their own skilled engineers and supervisors.
Western MNCs' investments in Africa, OTOH, take away jobs by shutting out local companies and mechanizing operations.
For example, between 2016 and 2017, researchers at SOAS University of London surveyed 37 firms working in Angola and 40 companies in Ethiopia. About 50 percent of these firms were of Chinese origin. The researchers found that 90 percent of employees in Ethiopia and 74 percent of the Angolan workforce for these Chinese companies were Ethiopians and Angolans, respectively. The findings confirm research carried out by Hong Kong University of Science and Technology scholars: Among 400 Chinese companies surveyed for that report, 85 percent of their workers were Africans. Similarly, a 2017 McKinsey report surveyed 1,000 Chinese firms and factories in eight African countries, reporting that African employees made up 89 percent of the firms’ combined workforce.
Seriously, some folks here actually believe China the superpower acts altruistically for the benefit of the African peoples and won't exploit like the West? Very naive. African peoples need to lift themselves up. But until the system of corrupt governments in African nations falls, they will be in perpetual economic slavery.
There's no free lunch. The Chinese and the Africans know that. What the Africans badly need is basic infrastructure. If the Chinese can provide that in exchange for access to key resources, then I think it's more of a win-win situation than the direct exploitation you see many Western companies engage in.
Agree, that eradicating corruption at the governmental level is key to alleviating poverty in Africa.
building infrastructure is anytime better than selling weapons to kill fellow humans
Everyone is corrupt one way or another, to what degree and also what is the measurable impact.
https://www.channelnewsasia.com/asi...aysia-thailand-laos-china-lower-costs-4471841
If TH were to even allocate the slightest of their resources to painstakingly develop a farm or 2 in the areas connected by this, i'm certain we would not be advocating eating insects as an alternative food source
https://www.channelnewsasia.com/asi...aysia-thailand-laos-china-lower-costs-4471841
If TH were to even allocate the slightest of their resources to painstakingly develop a farm or 2 in the areas connected by this, i'm certain we would not be advocating eating insects as an alternative food source
China Renaissance Crashes as Trading Resumes After Bao Fan Exit
- Shares resume trading in Hong Kong after 17-month suspension
- Ex-chair Bao was replaced amid unspecified government probe
By Lulu Yilun Chen
September 9, 2024 at 9:43 AM GMT+8
Updated on
September 9, 2024 at 11:07 AM GMT+8
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China Renaissance Holdings Ltd.’s shares fell as much as 73% after resuming trading in Hong Kong on Monday, 17 months after the stock was suspended following the detention of its former Chairman Bao Fan.
The company said it has fulfilled requirements for the trading resumption, releasing its earnings for the first half and for last year and 2022.
The company replaced Bao in February, a year after he vanished from the public eye due to an investigation by Chinese authorities. Shares of China Renaissance were down 63% as of 11:00 a.m., wiping out about HK$2.6 billion ($334 million) of its market value.
China’s Deflationary Spiral Is Now Entering Dangerous New Stage
- Prices seen as falling through 2025 as wages, demand languish
- Long-term deflation could be major setback to China’s economy
“We are definitely in deflation and probably going through the second stage of deflation.”
Photographer: Qilai Shen/Bloomberg
By Bloomberg News
September 9, 2024 at 6:30 PM GMT+8
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Deflation stalking China since last year is now showing signs of spiraling, threatening to worsen the outlook for the world’s second-largest economy and raising calls for immediate policy action.
Data released Monday confirmed that apart from food costs, consumer price growth barely registered in large swathes of the economy at a time when incomes are sagging.
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