China and Africa

You may not think much of Africa from an economic point of view, but last year it supplied more than 15% of our oil. It is also becoming a major player in metals, timber and other natural resources. Also, its population of 800 million is now larger than Europe’s and is predicted to exceed North America’s in the next twenty years.

Yes, on the whole Africa is still a third world continent but it’s changed more in the past forty to fifty years than at any other time. China has realized its current and future importance and has moved in in a big way. They are a major buyer of African oil; it supplies a third of their imports. They’ve sold military aircraft to Uganda. They’re building dams, bridges, power stations, highways, schools, drug plants, phone networks, etc. And a lot of the building is done by government companies that care little about earning a profit and are thus able to underbid most of the competition.

They also care little about whom they deal with. For example, Mugabe has been to China several times. They moved into Sudan when we barred our oil companies from investing there.

To improve their position in Africa they have forgiven debt from some countries and will be subsidizing 10,000 Africans who have been invited to study in China.

I’d say that China is becoming a formidable competitor in the global market and they have the added advantages of not having to make a buck nor care for human rights.