China’s African Safari hits a bump
A report in the New York Times suggests that all is not plain sailing for China in her quest to conquer African riches.
As global commodity prices have plummeted and several of China’s African partners have stumbled deeper into chaos, China has backed away from some of its riskiest and most aggressive plans, looking for the same guarantees that Western companies have long sought for their investments: economic and political stability.
Today, China’s quest for commodities has not stalled. State-owned companies are bargain-hunting for copper and iron ore in more stable places like Zambia and Liberia. But Chinese companies are now driving harder bargains and avoiding some of the most chaotic corners of the continent. African governments facing falling revenues are realizing that they may still need the West’s help after all.
“The political situation is not very stable,” Huo Zhengde, the Chinese ambassador here, said in an interview, explaining the country’s hesitation to invest billions in Guinea, where a junta seized power after the death of the longtime president in December. “The international markets are not favorable.”
So, China is discovering that dealing with Africa is more than a question of signing deals with no strings attached. I welcome this new awareness with one caveat: China’s idea of a stable country is one where order is maintained through brute force with no consideration of human rights. And dictators are only too happy to take a nice backhander in return for ‘stability’.
I hope that China sees this changing African climate as an opportunity to act like the responsible stakeholder that the continent desperately needs.
A deviation ….
It was tempting to write a post about China’s apparent recent cyberspying, but many have already done so and none better than the China Matters blog. Suggested reading.