I expect the Chinese are less exploitative in their investment approach than the Europeans that acted in Africa (slavery and just outright theft was the modus operandi for centuries), yes.
At the end of the day, the roads, high-speed rail, bridges, harbors, etc... the Chinese build can't be removed from the continent even if the individual countries do reneg on debt. This could create the kind of stable environment required to attract both Chinese and non-Chinese investors and talent in the future.
China has 10,000 years of documented history and this is a long game, they don't seem as interested in get rich quick schemes as some other civilizations.
>>I expect the Chinese are less exploitative in their investment approach than the Europeans that acted in Africa (slavery and just outright theft was the modus operandi for centuries), yes.
Sure. And US also tried to, more or less, exterminate the natives. Or should go back to Greek /Persian wars? Things change at logarithmic pace and China /Russia are wayyy behind. Russia and the uncle that pays for the niece's college with a catch. China is even more brazen and flush with cash....You Sri Lanka can't pay the $11 BILLION in yearly interest only that a leader signed at one point? We'll just take a major port for 99 years and essentially own you since we can enforce the agreement you signed by sending 300k soldiers in a week's time.
For all their faults, US and EU today actually believe that a free world--within the local limitations--is best for all. US companies didn't get the major Iraq's oil contracts, but at least the oil is on the free market.
Good observation, yes, a jobs program for the ridiculous number of Chinese engineers being produced that is funded by Chinese banks and paid for with 99 year low interest loans and resources in exchange.
May not be the best model, but sounds better than the "bomb our way to profits" approach we've seen employed elsewhere.
"I expect the Chinese are less exploitative in their investment approach than the Europeans that acted in Africa (slavery and just outright theft was the modus operandi for centuries), yes."
This is an absurd comparison. A normal comparison of hypotheticals would be Europeans today vs. Chinese investments today.
"China has 10,000 years of documented history"
That's an even more absurd claim, wow! Actually it's LESS than half of your claimed period.
"and this is a long game, they don't seem as interested in get rich quick schemes as some other civilizations."
We're not discussing "civilizations" here, but governments. More specifically, the government of a dictatorship.
- Why not take the last 500 years? China's trade was quite beneficial to its trading partners, Europe's was generally not. Anything less than 100 years, I would consider noise.
- China has 10,000+ years of history (adding documented was a mistake)
- Chinese culture plays too big of a role in decision making to ignore it in my opinion, you may disagree.
The only thing i agree with you is this: Chinese building of African projects is CURRENTLY better than American, British, European or Worldbank loans.
Loans are rarely ever used for the intended projects. Only, a minuscule part of the loaned funds are used to start the projects. The rest are split to offshore accounts, buy votes and grab more political power.
Do the loaners know that loan will go to waste? Yes and they hope it does. Why? Neo-colonization & Neo-slavery - illusion of independence.
Direct force is old fashioned and too costly. Subtle economic sabotage and puppetry is much better.
With loans, you can threaten debtor countries to depreciate their currencies. Use your multinationals to evaporate domestic competition, stunting their competitiveness. Extract their raw materials and dictate the price. Place of corrupt individuals in key offices and more.
Is China exploiting African countries? Absolutely. Ghanaian gold mining is basically Chinese.
Yet, conventional loans are like carrots placed in front of a horse, pulling it just before it bites. Think Charlie brown.
Chinese will build roads, bridges, airports, power plants instead of giving loans. Yes they'll give jobs to Chinese engineers but the project will be completed. - on time too.
Sure Chinese milk the cow dry but it will eat and grow fatter, instead of leaner.
At the end of the day, the roads, high-speed rail, bridges, harbors, etc... the Chinese build can't be removed from the continent even if the individual countries do reneg on debt. This could create the kind of stable environment required to attract both Chinese and non-Chinese investors and talent in the future.
China has 10,000 years of documented history and this is a long game, they don't seem as interested in get rich quick schemes as some other civilizations.
Time will tell.