China in Africa: Mutual Benefit or Exploitation?
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- Опубликовано: 28 сен 2024
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Over the last 20 years, China has been steadily increasing its economic ties with Africa. But is there a more sinister plan lurking behind the scene?
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Good video, but easy on the volume levels for the background music. Your narration is waaaaay more important.
Thanks for the constructive feedback! We'll be sure to bear that in mind going forward
@@NewAfrica Seeing your later videos, I can see you have definitely made some improvements. Keep up the great content!
@@NewAfrica You have an excellent voice for presentation. I also like the choice in background music.
@@NeoConNET7 Thank you!
Michael Johnson now I can’t ignore the volume 🙃 fanks a lot Johnson
Not really beneficial. When the loans are going through IMF and inflationary programs from chinese hands. So, the alternative to the west is no different to the west. The only alternative for Africa is Africa itself.
And Africa can stand if neo-colonials like France stop taking so much from the continent ($500 Billion per year
@@walkyelouidor4012 The west is no different my friend. This video which solely focuses on China, which I am talking about the case of China in Africa!
Africa's alternative is Africa itself. Africa must rise without seeking the help of other nations. Nations have no friends only interests, so letting other nations 'help' will only further their interests, not the interests of Africans. View international trade as something that must be mutually beneficial, don't let other nations take over.
The IMF do demand mass privatisation in their debtor nations though and China doesn't. That's the primary benefit I see.
@@walkyelouidor4012 Source?
I’d say option A. And Africa better remember the counsel of King Solomon: The borrower is servant to the lender. Your videos are very good, by the way.
i agree but...there is other side of the coin - if u r in debt 1 000 $ - u have a problem but if u r in debt f.e. 1 000 000 $ - somebody who lent u money has a problem...if u know what i mean.
To be obvious here, the problem onny occurs if the lenders can secure or at least know that the loans will be payed back, for whatever means necessary. If that isn't the case, and they lend more than they can afford to lose, problems will arise. It's always a double edged sword. But, to be honest, I can't see the problem until have past around 20 years from now. A 4% interest rate with no changes in minimum wage can do serious harm to everyone's economy in that period
@@gabrielaristoi7451 the lender then comes along and take ownership of the new port, factories, buildings etc that their money was used to build, usually by the Chinese workers in the first place. They are being leant money to go straight back into China's pocket to build everything and then, once built and payments not kept, they have to give all to China.
Aristoi Gabriel in that case, the lender would take a few ports, mines, strategic and/or resourceful structures, and plots of land.
But that’s what made Africa they will always be the borrower
"Fool me once, shame on you...Fool me twice, shame on me" #Hotep
Look at Zambia and their debt to chinese now china owns them forever let's see how that turns out for the people
@Hakim Abdul-Mumin if you have lived in China, you'll know rather neither
Fool me again, shame on citizens
Dunzy why not try neither?
“Fool me once ....... I don’t get fooled again” -George W Bush
From the Chinese perspective, it is actually a win-win deal: If they don't pay the loan, we will own the project. The key here is to only take loans that we know we can pay back!
High risk high reward. These projects took a huge toll on chinese debt burden, at current 18% of GDP china could have a severe recession if 40% of domestic non performing loans happened during transitioning into consumption based economy. The looming (name here) wars with the west, oh boy, china will regress to 1960s if investment in africa are in default because those resources flooding the china faster than china can process them
There is no win win.
There is win lose.
China loves spewing that win win bs.
@ It is win-win for people who work smart and hard. It is win-lose for people who are lazy and naive. It is like you are dumping all your savings into the stock market and think you will double your money in 2 weeks.
@ How is it 'bs' when the factual evidence shows Chinese investments are helping the backbone of many sub-saharan countries grow rapidly? You'd have to be a dunce to deny factual proof of the matter.
@@neinno8172 And with what money will the African nations pay China back? The CCP doesn't care about the well-being of other nations, only their exploitation. You're not able to pay us back for the harbor? Well, then it's ours!
Dear NewAfrica, Thank you for these short evidence based and informative videos. They provide great starters for anyone wishing to get beyond trivial and cliched talking points and engage in the realities and complexities of inter African relations and the challenges and opportunities Africans peoples face going forward.
"African is graveyard for African*
Vladimir Putin
Correction: Africa is graveyard for African leaders.
Vladimir Putin
Yeah, Putin made it so
Another powerful and insightful video, thank you. What appears to be the issue regarding China’s funding of infrastructure projects being tied to the projects in the resources there in, is that the African nations have to go along with it. Unless, other African nations who could have indirect or ancillary benefits from the Projects would also pledge capital to ensure loan repayment.
For example, a railroad project which could link two or three countries could be funded by Africa, but all 3 countries could share in the debt. Thereby eliminating the risk of loan repayments to just one country.
These and other “collective risk sharing options” should be explored as a mean of bringing countries together and strengthen the economic interest of the neighboring countries. Just a thought.
I actually had an idea that will probably won't happen, but what just for sake of speculation and fun: A railway that connects all African nations together.
@@connorthompson66 this is one of the plan of the African union so yeah it's going to happen soon!
@genuinely unique Globalisation. You could apply the same argument to other continents. If China cuts off trade with America, then that would drastically harm both of their economies. What would happen if an entire continent cut off trade with the world?
Excellent proposal
The US have their own interests in stirring negative perceptions against China. That being said, underestimate the Chinese at your own peril, as just because the US argument might be biased does not make it inherently erroneous.
All the funds and loans what the African governments needs should be from inside Africa. For this thing to be happen the AU should be strong. We need financially strong African Development Bank (ADB), and we need also to see a single currency (the Afro) and one common passport soon. And lastly we needs a pan-African military force like NATO to protect our land.
Africa Should be united. i need to see the United States of Africa!
All this is just smoke screen, most of the factories are run by Chinese,who treats African as low life, Africa has no friends,Africa is rake with corrupted leaders,so China is just taking advantage,but they are going pay the price,the African at home and abroad is waking up to to this con game,
You are wise my brother
the afro seems like a great idea but it needs to be taken with caution so it won't end up like the EU or end up debting one of africa's poor nations into intense debt to who ever runs the AU,and the army idea could most likely work like an regional force consisted of the largest armies in the region i guess
You are wise.
Excellent point, but with likes of Mehmet Fakki at the helm of the A.U., that strength and direction we crave will persistently evade Africa. Real shame.
Moral of the story is that we have to stop being so emotional and start using logic more . We care to much about being like and who thinks we're inferior none of that matters when you have countries that need to be developed and people that need employment. Don't take on responsibilities that you knowingly can't afford. People use people that's just how things are just make sure you're getting what you want out of it. Alot of if not most of Africa's leaders are trash, you're only as good a your leadership because thats who represents you on a global stage.
It’s colonization. Africa has never been left alone. The continent has everything and is life to the world and every other nation knows it.
"Every time China visits we get a hospital, every time Britain visits we get a lecture."
Malcolm X once said:
The media's the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent, and that's power. Because they control the minds of the masses
Lari Muzzarelli what do you mean like quran? Malcolm X was a muslim.
Define "Privately Owned". I am certain the definition is not the same as we use in the west. If your privately owned business can be confiscated by the government at its whim, then it is effectively owned by the government and allowed private operation.
Like Kagame said, Africans have to be willing to put in the work to pay the loans.
China itself only got to where it is because of huge debts amounting to hundreds of billions of dollars.
It used this money given to them to grow and develop itself. And was therefore able to become as industrialised as it is, and become the superpower it soon will become.
Africans should stop thinking with emotions and saying that this just "colonialism".
This is just business. Albeit predatory, but it's still business.
This will challenge Africans to become innovative and grow beyond the levels they are and make these projects productive.
That's it.
Just do what was in the deal you agreed to and accept that this the best way to get you out of poverty.
LUthando Nqakala - Don't forget the role of Henry Kissinger in opening up trade,
MFG and technolgy with China,
Exactly , China is not evil , the true evil is corruption , clouded judgement of colonization
Africa needs to get out of poverty then they will need to sacrifice , work
Lol, don't be delusional brother.....this is politics, no one gives anything because they love you, especially when it's obvious you can't pay back....this is how the traditional rulers viewed Britain's help in the past, this is exactly how Lagos colony was formed.....it's just history repeating itself...and we are still too blinded to see it
I wish it was not so, however the disrespect showed by some of the Chinese people on the ground in Africa to African people and the abuse of Africans in parts of China indicate danger ahead and the half caste chinese babies being spread around the continent is worrying indeed.
here is my argument and problem i have with the chinese involvement on our great continent.Can we not do everything the chinese are doing throughout our continent? yes,china might be more technologically advanced than we are,but we have the manpower,intellect and resources to carry out the projects they're funding.We don't need the chinese for road,railway and property developments smh.If our African leaders stoped looting,squandering and allowing the french to suck our countries dry,we'd have substantial amounts to be able to reinvest in our countries and get all these things done smh.
Coming to get resources from Africa is usually seen as stealing candy from a baby. Why do we always look for help and handouts. It’s the same script different actors.
There is a lot in here:
China *does not* have a similar experience with colonialism to Africa. In China only a few harbors were under direct foreign control, sure Britain dictated trade restrictions and China wasn't sovereign. But this state is in no way comparable to African land being directly controlled by european monarchs.
These projects combined with their loans is something China does all over the world in almost all developing countries. And for China this is a win-win situation: they demand that chinese companies get the contract, so it's chinese money going straight back to China and the chinese economy grows.
If the countries can pay the loan, the chinese companies have proven themselves and they have a foot in the door for the next projects going to China, too. If the project fails, China not only gets strategic access to the resources but they also have (chinese built) infrastructure right there, too.
This perfectly well narrated.. Thumbs up
Thanks for watching! Would be interested to hear your take on the subject
@@NewAfrica my personal opinion is that we can deal, trade and borrow money from china as far as the money is well managed by being invested in projects that will contribute the economy grows there is no problem in the other hand if our leaders are not careful and they mismanaged the borrowed money from China then China will take over the entire continent so it is over our leaders to play their cards well because one must admit that if the cards are well played we gonna benefit from it a lot and we have a lot to learn and gain from China like industrialisation, high techs, infrastructures and modern agriculture so as conclusion if everything goes well and smoothly it will be a Win Win thing that is the hope
@@kingrazakusher2837 Excellent analysis. Our destiny is ultimately in our own hands!
@@NewAfrica Exactly..
How did China get so powerful as poor as they were? Not by letting foreign countries do the work but used their own people...traded well!!!!
Africa can do the same or better!!!
Africa...foreigners can be friends but never let them own you just as they limit you in their economies.
Kagame is right, but at the same time wrong. It's WHO China chooses to do business with that's the problem. When China chose to deal with Mugabe for instance, the result was the selling off of Zimbabwe's natural resources. If they dealt with Kagame however, the situation might've been much more beneficial for people of Rwanda, than the benefits that the people of Zimbabwe saw. The Chinese are, in other words, opportunists, so if your government is weak, you may have reasons to fear Chinese opportunism.
Oh my Africa 😭
Love this channel! I binge watching all the videos. More Please!
Soon there will be no more Africa. If this continues. Africans must provide for themselves and stop depending on other nations for help. We been disappointing our ancestors for to long. Wake up Africa!! And all Africans of the diaspora. Mother Africa is in big trouble.
History is definitely repeating itself. I slightly agree with Kagame though, but most of the countries incurring this debt cannot pay it back...Kenya for instance is as good as gone with Kenyatta spending debt money on his personal investment projects...Africa is getting ready to be colonized by China, very tough times ahead of us especially looking at how China treats it's own people, what will it not do to us??? We haven't learnt anything.
This video needs to be updated every year
Sure China has it's own interests in mind. I mean that's obvious. But in my book they are better than the west because at least they are building things, instead of destroying them. And let's not forget that China needs markets to keep growing itself and China's demographics is getting older because of the one child policy. So they need both workers for their firms and consumers for their products. It's really a win-win for China. If the African countries pay back the debt and become developed, it's a win for China. And if they default and China gets strategic ports and stuff, that's also a win for China. For Africa it's a win-lose situation based on whether they can repay the debt or not. So it's up to them. The west should be ashamed of itself for criticizing China, when in so many decades, it itself hasn't been able to help Africa.
*_The west did the same thing, no apologies from them._*
I pray and hope that African leaders have a plan on how this dealing will end …
"China uses bribes, opaque agreements, and the strategic use of debt... to hold states in Africa captive to Beijing's wishes and demands"
In other words what walrus wants to do and practices in his own country
We are learned, we understand economics, we are not naive and yes we know when our LEADERS sell us to the highest BIDDERS.
I cringed when I saw smiley faces of crew members of the Kenyan SGR.
Africa is this beautiful, naive, ripe girl with no make up on.
This is a very good channel
If these private owned business were actually private and not state operated enterprises, possibly could be goodwill
To be fair, the Chinese government has increase their influence even in Central American by building nice roads and putting in new companies. China is simply expanding their global influence I'm sure like us Americans they have a interior motive.
To me, it seems awfully familiar to the way the British excused Egyptian debt in return for control over key infrastructure such as the Suez Canal; slowly taking more and more political control under the veil of safeguarding economic interests and outstanding debts.
If we don't deal with China carefully and wisely, history Wil definitely repeat itself
Best Channel on RUclips for me. Period.
Africa is the new Asia. Asia is getting developed which means it becomes less of a production continent and more of a service continent. Africa will become the next production continent for the world, which isn't bad. Every country takes these steps: Agriculture>industry/production>service.
China has already taken a port in Sri Lanka due to unpaid debts. .. unfortunately the model you described is 100% true and our African leaders are leading us to a new neo colonialism era..
Just by looking at the chart of Chinese investments in Africa, you can see energy and transportation are disproportionally higher than all other sectors. This should be an indication of what is going on. Harvesting energy and transporting it.
Internal integration is key for the growth.
It needs considerable investment in transportation and energy.
I like this video. You very well expose the situation and end on a very positive note. I also like the fact that you agree at least on three of the steps you mentioned. What President Kigame said, as you have mentioned in the video, is correct. I would have like you to hear you ask the questions: How likely is it that African countries will not default on Chinese loan? What are the clear tangible benefits to Africa if they default? Also, what about the money borrowed? What percentage of the money actually stay in Africa?
I have a better idea. Africa must develop its own industrial capacity to build its own infrastructure. That way, they will be the ground for other nations like China to stimulate their economy while leaving huge debts for Africa's children. China can certainly help Africa develop its capacity and African leaders should invite them to do so. But it must be done in a way that is clearly beneficial for both.
Don't get me wrong, I am not blaming China. When investing it is natural to try to get the most return on investment as possible. In my opinion, most of the benefits go to China. Very little is left for Africa's children. In fact they, Africa's children, will have to borrow, on top of what they already owe, to maintain these infrastructures. And this will be after China has the rights to most of Africa's resources.
I just don't understand why our African leaders think Africa needs aid. If they'll cease their wickedness & corruption, our continent will be one of the best places to stay on the planet. We have the resources he world envies, what's left??? Human resource and that's what we should invest in ... Period
Of course, our Chinese enterprises go to Africa to do business, not philanthropists. I believe that what Africa needs is more industry, commerce and infrastructure, which are essential for Africa's real development.
👨🏿We have no friends but our own!!!!!!!
Africans don’t leave your destiny in the hands of your government. The government is supposed to work for you! It’s time to get shit done
As a late prime minister, Meles Zenawi said in the world forum, we need investment, not aid. china came to Africa for investment, in Ethiopia constructing huge infrastructure and investment, almost all, western investment didn't get everywhere in Ethiopia. french embezzling west African resource china is a real partner for Africa.
I would say aid to a poor country is the worst thing that can happen. There is no ownership on that investment, brings up corrupt and more importantly incompetent leaders to stay in power and drag on the misery of the country. Think about it, if a leader is not competent to provide for its people they would be kicked out but aid just props them long enough to drag on the misery. Developing countries should try to minimize the amount of aid it takes and move toward more self reliance of its finances. I would call the last 75 years after the world war as aid trap.
You're right it'll be interesting to see not just the change of hands from the West to the East and Africa, but the change of hands from the West to the east globally. Because let's not forget this strategy is happening everywhere.
Hard to believe even privately owned Chinese businesses wouldn't have any significant influence from the CCP or PRC. But if this results in a race among all the economic powers to invest in different sectors of African economy & African govts play their part smartly & maintain a balance with all of them so all economic powers stay interested in continuing their African investments to not fall behind each other then it can definitely benefit greatly.
We are on our own,
Actually, Chinese been operating like this for 3000 years, they rarely use swords to secure resources but beneficial trade deals, often at their advantage but always sufficiently beneficial for the other party to keep this agreement running. It'is the Chinese way, win wars with resources and money, not soldiers. I am not saying they don't have a massive build-up of military hardware right now and are getting more militarized than ever before and are invading militarily some areas near their borders. But having lived there for 9 years I can tell you that the average Chinese see Africa as just an investment that they can capitalise in. They also know that just plunder the resources will be economically unsustainable so better help Africa's social, political stability so to gain better economic stability and gather more revenue in the process. In short, you are a huge market consumer and that the better you are doing, the more goods they can sell to you, the richer they will get, which in turn help your country get more and more developed. On the downside, you might get in a situation that more than half your country's infrastructures will be privately owned by Chinese entrepreneurs that still have to answer to their government, and that most of your industries will be totally dependent on China. It will be up to your leaders to see through this and arrange agreements that will be the most beneficial in the long term. But anyway, it can't be as bad as what we European did and are still doing to your continent, so I can see the appeal to turn towards China for help instead of us. At least you know what to expect while with us, we will always change our deal once a new government is being elected. We gain more from you being in chaos than you being strong and united but that's the Western way of doing things right?
I think you will find a very good indication of China's intentions if you look at their dealings with Cambodia, Pakistan and Sri Lanka. Be very careful, the Chinese always have their own interests in mind and play a long game. Look closely at the details and understand that the global economy is about to contract massively, making debts harder to pay back. Limit the number of small businesses owned by the Chinese and the total population of Chinese. Demand that Africans be employed at all levels of development projects and operational management of finished projects. Demand 51% ownership, maintain control of your strategic assets and resources. Africa is for Africans, protect your lands, resources, cultures and people. Africans need to work together and lift the entire continent up. Don't let anyone play you off each other any more. Leave the competition for the football pitch. May Africa enjoy peace and prosperity at last ! - a friend in California
Until Africans appoint competent Africans to manage their resources and governments, we'll never be able to bargain equally.
Background music too loud; great video though
I really hope this turns out good. Would show that the world moving on from imperialism in the big scale.
At less they are not giving as wine to take our gold ....
Let's see if China will help in diplomatic issues when sanctions arises.
Their is no such thing as 'private Chinese business'.
I believe this was recorded before the recent uprising began
Which one ? Where?
@@hugoadriansantosanchez6907 My guess is the backlash from true systemic racism towards black people in China and nationals from all African countries. The CCP also tried saying the virus came from Africa to shift the blame. Nice friends.
Colonialism, they just replaced military oppression with crippling debt and resources control. They did the same thing to Australia.
What we really need is the transition to a multipolar world order based on cultural pluralism, mutual accountability, and collective security. Those four things: "multipolar", "cultural pluralism", "mutual accountability", "collective security" must become new international buzzwords for the new world order.
This new world order must incorporate a variety of cultural perspectives into the construction of its core values equitably, instead of drawing the bulk from Western lib dem or any other tradition outstanding - if anything, shouldst any be given a more outsized role it should be those of the world's most marginalized: Indigenous peoples. Countries and regions must hold each other accountable to these novel standards of good conduct and governance. Collective security means that the duty to prevent aggression to disrupt or break the peace falls upon all, and not merely upon a few strongman countries assumed to only act in the good (as with the UN Security Council right now). Shouldst one nation venture to build up and stockpile armaments to disproportionately press its power against the rest, all the rest must restrain it back into its place, no matter who. The network should be stratified into two tiers - one of which would be an accountability network amongst the big strong nations, and the other the whole combined power of the rest to sit atop them. Such a system would ensure restraint of any form of domineering or outsize influence by any of them.
Not easy? Didn't say it was. But the current system don't cut it.
Africas future would be better if the can keep China, Europe, and America as friendly economic partners and distant friends at the same time
Ooh I can answer that. Exploitation. I don't know if there's any foreign business people who don't exploit Africa.
And China is just catching up with the exploitation the West has been up to for the last century and a bit
Easy, we want our customers to be rich so you can buy more stuff from us.
Jili Lin And even better you guys respect culture.
Do African countries trade with eachother ?
If China's investments are largely private, that is a sign the government is not 100% involved. Without full government involvement, Chinese companies in Africa will have to depend on the African people to staff these industries. That is a good sign, having people of different ethnicities working side by side, without a government overshadowing everything, tends to promote cultural understanding. I also believe that since China was among the worst hit East Asian countries by Western style colonialism, mainly in the form of wars, indemnities, unequal treaties, extraterritoriality, and that same patronizing attitude from England and France, that they understand how it feels to be exploited. Now that isn't to say China isn't going to turn these countries into principle political or military allies but China's peaceful rise has been just that, China has only had minor border skirmishes with India and Pakistan, its military is centered at home in China and not a threat to other countries. Unlike the US with its possessions all around the world, like that massive air force base right in the middle of Thailand.
China is doing this across the world. If they really cared they would limit what a country can borrow and also what it is used for. Small island nations in the South Pacific have maxed out their credit with China for some infrastructure but also short term luxuries which realistically cannot be paid back through taxes. Private Chinese businesses are also taking root in these nations. Local people become dependant on goods supplied cheaply by China to Chinese resellers. Local resellers cannot compete with the price and therefore go out of business. We must all be careful with our money and especially or land/resources. Maybe it would be a good idea to learn Chinese too so we know what they are talking about when they are speaking to each other in the same room as non-chinese. Chinese resellers are very good at learning the local language to sell to both Chinese and local people.
This video could use a second part now. What has changed in the past three years? Did African countries' dealings with China bore any fruition for the African population itself or was it really a debt trap to control resources and, maybe, a servitude in international relations?
just remember the Western countries private citizens strictly donate to the very poorest kids in Africa, unlike the IMF. This is often overlooked
China = FOE... Wake up Africa❣️ It was too easy to send every African packing, throw each and every African out onto the streets, and under the bus, as well as to the wolves, Worldwide not to long ago!
When someone shows you, who they are, believe them...
They know themselves better than you do❣️😬😢
Really well made video, thanks for the insight!
Question for African nation is you rather than the choice of getting loans or not? If the west keep on complaining about Chinas influence we should provide our own investment. Action speaks larger than words. I hope Africa grows and prospers 👍😁
And when they can't pay the Loan. China doesn't even have guilt about putting down their own. Good luck Africa.
how could history be repeating itself when China had never been interested in other territories other than those tied to its historical founding, all the neighboring countries of China had never been attacked by China
Chinese are business minded, they always look for areas to invest in for the benefit of their children, if they can fund projects that will eventually earn them profit, they won't hesitated to do it, and they mostly don't mind sharing the earnings fairly with whomever partners they have
like the video said, China was a poor country before it opened up its market, and during those times, a lot of Chinese migrated to neighborhood countries w/c i guess is why most Asian countries have Chinatowns, most Chinese migrants would send money to their relatives back in China, while successful Chinese migrants would build Chinese schools/libraries/churches in their host country and in China
grahepo “China never invaded its neighbors” Vietnam, Tibet and Parts of Central Asia when it was not chinese( it is now) Korea and Southeast Asians were forced into tribute as well
Thank you for info
I quote Dr John Henrik Clarke on this issue 🤔
We got no friends. Every that was brought and still brought to Africa by foreign cause more harm than good.
I think the PRC is definately trying to expand. It's a state, that's what states do. The question is can African leaders get through the minefield? Realistically most or all "help" Africa is going to get from the outside is going to be exploitative, that's just capitalism. So even if the PRC is trying to steal resources that doesn't mean it's not a viable option. The risk is higher than I'd take, but I'm not a leader nor even an African
“one would expect afrikan leaders to…”
any sentence that starts that way rarely ends well 😔
I hate to say this but from the under development of Africa as a whole by Europe and the lack of military and industry. A loan from Beijing might be all that country might have. Its up to the African leaders to write the correct policies for rules of engagement of the agreements. It can’t be just one sided for the Chinese.
If you cant take back the loan dont take the loan. If countries default its just because the greed of their own leaders
This is so obvious I can’t believe the short sightedness of the African leaders..
What's your alternative wise one? Africa shouldn't develop?
@@eddy1275 Here's a better solution. African countries develope on their own by getting rid of their regimes and reducing corruption. This'll score a higher bonity on the World Bank and grant greater access to financial aid and other means of development. It worked in Botswana, it works in Rwanda. It can work everywhere.
Exercise the work with Africans. Leave China out of Africa’s business. Africa governments can support each other.
This guy gives good commentary on the history and mismanagement of Africa. Great video
interesting and wonderful video, from your biggest South African fan 😂😂
The partnership can work but I think African engineers and laborers should make up 65-85% of the labor force for these projects and 40-50% of materials must come from the continent. We must fight so that the mo eyes circulates in the continent alot longer before it goes out
Mutual benefit vs Exploitation is not really a question in every day business. Taking loans can be good business. Granting loans can be good business and a good deal is when both are somewhat unhappy. From what I understand, most of these loans are not onerous to the lender and they are not "bad loans" as in meant for the private consumption for the local elite. As a whole, I think its mutually beneficial.
I truly hope that I'm wrong but I definitely feel this is just history repeating itself
Cause it is
Another interesting thing. China has no foreign army to ensure its control over the resources. Legality is not enough. On the other hand NATO and the US have many bases on the continent, so one might have less confidence on the IMF than on Chines financial institutions.
Very informative. I like your video very much!!
When the Devil wants a dance you better say never
Cause a dance with the Devil could last you forever
Few leaders really care about their people or their country's resource, they're only human after all. . Their own personal bank balance is their primary concern. Take the Chinese money and run.
The only hope for Africa is unity
As a western american leftist (I know we are the worst) this just kinda sounds like what the unites states did to south east asia in the 1990s. Which would be bad for the chinese if the chinese didnt have a government that can more effectively care for most of its citizens. Im sure there will still be some negative effects from the interactions here given that a new Cold war seems brewing between America and china and what that seems to mean for areas that become proxy battle grounds but if it can purely stay economic competition at least the capacity for human misery will be limited.
This is all down to whether Africa’s leaders will continue to be greedy or finally get their act together.
All major Chinese companies have state involvement, that's the law in China. Even if they pretend to be private. And as far as "only" taking controll of infrastructure if the debtor nation can't repay the debt goes: Yeah... what are the chances a poor nation that needs to rely on foreign loans won't be able to pay them back? Guess China will have no choice but to take over those African ports, railways, etc, lol. The way this is said in the video as if it were a irrfutable matter of fact says it all. Why don't they structure the loans differently, so that they can actually be paid back? Why do they trap African nations in debt with compounding interest, if they want to help them as they claim? China even build the African Union headquarters, complete with spy equipment to see what their new subjects are up to. Because if there's one thing all these foreign powers do not want it's a united Africa.
The background music is too high
I can't hear the real story
The music in the video sounds louder than the narraters voice, i can't hear him very well
I believe the West should give them an alternative. If they are risking getting debt trapped for their development, then they are ultimately risking their freedom for it. The West should condemn France for it's approach and offer up a new solution, one of which where the African countries can be brought into the community of countries through trade, much like how the EU united Europe