China pledges $60bn to develop Africa

[Treblemaka]

Reality Check: Countries don't help other countries unless there is something in it for them.

That being said why get irritated China is doing this. Most of us claim we want to support but won't empower ourselves enough to help Africa.

This is no different than getting mad at the Chinese when they build a store in the ghetto. They respect our dollars more than we do.

 

[1thouwow]

What countries tho

 

[keon]

if you think the chinese wont benefit from this way more than the africans in the long run then you are foolish..

but at the end of the day, beggars cant be choosers

 

[31Flavors]

Its amazing that some of you absolutely refuse to consider the possibility of Africa benefiting from this. Of course China isn't doing this for free. Its more than likely in exchange for natural resources and a potential new market for Chinese made goods...That is not "rape" guys.

I don't always agree with @Tommy Knocks but he right about the toxic mentality some of you got.

Dont Africans need those?

 

[Azul]

No nation acts out of pure benevolence. It'll be up to Africa's nations to negotiate the best deal. Exchange of resources for the best possible infrastructure. If they don't, then it's their fault they got hustled.

Two years ago I was in Sierra Leone with my mom and sister. We went to a village about two hrs away (where my stepfather grew up). As we're driving up to the main square, we notice that most of the homes are in shytty condition. No electricity, no plumbing, etc. We reach the main square. I look up and notice some solar panels. Then I notice a BIG ASS CHINESE FLAG. In the middle of the main square.

Naturally, my sister and I are like and ask what the hell this is about. She tells me that a Chinese company set up shop (a plant) but before they could do so, they needed the permission from the village chief. Here is what the chief negotiated.

1) Solar panels to light up the main square and a few on the streets leading up to the square
2) A community hall to have meetings and parties.

THAT IS IT.

The chief is a former diplomat and this was his negotiation. Understand, they wouldn't been able to set up if he didn't sign off

I was like at the VERY LEAST he should have demanded brand new, furnished, stable homes for EVERYONE with plumbing and a means to have electricity, paved roads, job training (so ppl can work at the plant), and profits for as long as they are there. Instead, they have some solar panels, a place to argue and dance, and a big ass Chinese flag

Don't count on most of these African leaders to negotiate good deals

 

[TMNT4000]

Why is some of y'all mentioning blasians 2035 and shyt like Chinese and Africans are mixing like that in Africa?

The Chinese and Africans barely mix at all.

 

[31Flavors]

Why is some of y'all mentioning blasians 2035 and shyt like Chinese and Africans are mixing like that in Africa?

The Chinese and Africans barely mix at all.

The Chinese generally frown upon mixing with Sub-Saharan Africans.

 

[StickStickly]

Is modernizing always good?

 

[31Flavors]

Is modernizing always good?

For Sub-Saharans, it would be yes.

 

[StickStickly]

For Sub-Saharans, it would be yes.

Wouldn't it take away part of their culture?

 

[31Flavors]

Wouldn't it take away part of their culture?

You can keep aspects of your culture while advancing technologically. Asians did it. Europeans did it. Arabs in the Gulf states did it.

 

[Falcozer]

"It's only fair, those Greek people aren't that bad we should let them in, plus they have PAWGs! " - nikkas in 333BC

"It's only fair! Romans aren't that bad! at least they're not Greeks! Let em in! " - nikkas in 203BC


"They have aid and help! these Arabs will surely bring resources to our people! They won't be as bad as the Romans! come in Muhammad!" - nikkas in 639AD



"Look! pale people coming from the West! They seem like nice people What's that? No I've never heard of Jesus come and tell us about him!" - nikkas in 1492AD




"Don't worry about the trans alantic slave trade! We know you aren't like THOSE white folks! You wanna learn about the Nile Valley culture? Sure why not. What Berlin Conference?" - nikkas in 1884AD
"Look! PAAGs! Blasians! They will surely help us out! sign our what on the contract?" - nikkas in 2015

The same story has been going on for millennials and some black people still don't understand

 

[Red Shield]

Don't count on most of these African leaders to negotiate good deals

I wouldn't expect most to negotiate good deals.. but I'm sure there are a few who do

 

[TTT]

60 billion is not enough to "buy" a continent or even develop it for that matter. Looking at the details in the OP its a mixture of grants, loans, exchange programs and so on. There are projects such as the Grand Inga dam in the DRC that have not been pushed forward because the whole cost of that thing is estimated at between 50 and 80 billion. China understands the problem of developing countries with respect to infrastructure while the WB and western model was mostly budgetary support which effectively financed a lot of recurrent expenditures instead of capital expenditures. Compared to the 80s and 90s model were growth plummeted the 2000s were much better especially for commodity exports to China. The idea of infrastructure for resources is not new, Japan did the same thing with China back in the 70s/80s and built them some trade related infrastructure to kick start their growth. The alternative is that these Governments go to the financial markets and borrow billions of dollars to finance these expenditures, that avenue is costly for most African countries and hence the popularity of Chinese deals. The few countries that have issued bonds pay a premium on those bonds that are like 4 or 5% above developed countries. Debt servicing led countries to the IMF in the 80s and 90s and its easy to see why the China route is appealing.

 

[Jimi Swagger]

Until I see more engineers, bankers and agribusiness men from the Diaspora invest into the continent en mass I cannot hate on Lee & company. The Chinese do not impose their culture, like Jews, they are in for the dollar. Nothing more.