Friday, December 07, 2007


Here is another example of the Chinese government that used to castigate European capitalism for exploiting less-developed parts of the world, engaging in the same adventurism that it once branded as "capitalist colonisation". "Overall, China's push into Africa has been remarkably successful. Chinese companies are sucking up oil from Sudan, cutting down timber in Guinea and mining copper and zinc from the Congo. Beijing recently bought a major stake in South Africa's Standard Bank to fund infrastructure projects throughout the continent. And the Chinese are far outpacing their Western rivals. China has opened more embassies in Africa than the United States has, and is even investing heavily in countries, like Rwanda, where the immediate returns are murky at best. Last year trade between Africa and China topped $50 billion. By 2010 it's projected to reach $100 billion." (Newsweek, 3 December) RD

1 comment:

ajohnstone said...

Companion blog Socialist Banner has carried several postings about the Chinese imperialist expansion in Africa