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While Washington is preoccupied with war in Afghanistan and Arab liberation movements, Beijing is feeding its insatiable “Made in China” machine by cranking out mega-deals to develop Africa’s infrastructure in return for rights to grab resources, such as minerals and oil.
Some African leaders compare these resource-for-infrastructure swaps to Marshall Plans — deals big enough to jumpstart economies. But critics in the West say the swaps amount to a “Great Chinese Takeout” or a series of sweetheart deals for the Asian colossus.
China’s biggest bet on the continent is a $6 billion accord with Congo, a country buried in debt but rich in virtually every known mineral, from gold and diamonds to coltan, a key element in cell phones, computer chips, nuclear reactors, and PlayStations. Congo has 80% of the world’s coltan reserves.
Originally posted by MagickWithoutTears
Personally i think this is a good thing as Africa are basically giving everything away anyway.
But at the same time, The way these powerful people work, Its hard to not think that there is something sinister here.
... Former Deputy Secretary General to United Nations and Founder of United Nations Environmental Program and “Earth Summit” the Hon. Maurice Strong, addressed the Goldman Sachs leadership series dinner on the 8th December 2009 in Hong Kong.... www.chinaecoclub.org...
...“Then, in spring 2008, prices just as mysteriously fell back to their previous level. Jean Ziegler, the UN Special Rapporteur on the Right to Food, calls it “a silent mass murder”, entirely due to “man-made actions.” Through the 1990s, Goldman Sachs and others lobbied hard and the regulations [controlling agricultural futures contracts] were abolished. Suddenly, these contracts were turned into “derivatives” that could be bought and sold among traders who had nothing to do with agriculture. A market in “food speculation” was born. The speculators drove the price through the roof.” www.independent.co.uk... www.independent.co.uk...
But critics in the West say the swaps amount to a “Great Chinese Takeout” or a series of sweetheart deals for the Asian colossus.