Word: chinaã
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Last month, Barack Obama took his first presidential whirl around the Far East, all the while peddling the messages of our nation. The common refrain? “We welcome China??€™s effort to play a greater role on the world stage—a role in which its growing economy is joined by growing responsibility...
While this sounds rosy enough, even interest-free money isn’t ever really free. Rather than use its economic leverage to stamp out corruption or push for human rights, as the West does, China??€™s demand is instead a request that African markets open up to the dumping of Chinese products, that participating governments refuse to recognize Taiwan, and that any development contracts are forged exclusively with Chinese companies...
...course, China??€™s initiatives are far from malicious in and of themselves. In fact, they might do the perpetually forgotten continent an unprecedented amount of good. Among the tangible benefits of the November deal are $1 billion for small business, massive improvements in African infrastructure, reduced tariffs, construction of 100 clean-energy projects, and sponsorship of programs in health, education, culture, and agriculture. Since 2000, such measures have not only built China political goodwill, they have also expanded the dollar value of Chinese trade with Africa tenfold...
Needless to say, the many African nations that do not suffer corrupt government deserve to be extended loans free of austere prerequisites. But China??€™s track record suggests that its dealmakers are hardly selective enough...
...Beijing Olympics thrust into the spotlight China??€™s massive investments in genocidal Sudan. The rancor that followed marked the first time China faced the international humiliation that comes with injudicious investment in troubled regimes. Since then, China has emerged from a year-long financial crisis as a global leader, not just a player. And yet the People’s Republic persists...