China Pledges $20 Billion in Loans for Africa

More BRICS in the great wall to Africa This region isn't much talked about by the MSM but the next century will be focusing on this particular continent (surely due to its vast untapped resources). Surely BRICS was partially formed to ease the pathway to Africa in addition to leveraging the internal trade amongst the member countries.

Chinese President Hu Jintao has pledged $20 billion in new loans to African governments over the next three years, expanding an already rapidly growing China-Africa relationship and giving Beijing even more access to the resource-rich continent.

Expert comments/opinions/thoughts/viewpoints please.

Well I think they have a lot more money and consistent with the money to catch up to the shear amount od dollars that the US dolls out every year to not only Africa but many, mnay parts of the world. Thats not including the enormous amounts of money that we the average citizen donates and gives away even when our economy is in the crapper.
www.forbes.com...

www.foreignassistance.gov...

People are afraid of Iran and the Middle East?

I have two words for you.

Imperial China.

Although loans to Africa don't help Africans, it's the bad way to go. You should be funding programs that create food and distrubtion lines to famined areas, hospitals and schools and provide funding for education etc..

This whole just give money to government and hope they do what they are suppose to is nonsense.

~Tenth

Originally posted by tothetenthpower
You should be funding programs that create food and distrubtion lines to famined areas, hospitals and schools and provide funding for education etc..

True however if the political system was ideal and not strong enough to oppose the aiding country. Most of the African countries just like many developed/semi-developed countries are just as corrupt. Do you think all the 20 billion is going to make it to the needy? On a side note, it is easier to fund the political groups to meet the objectives rather than directly funding programs that might benefit the locals. Moreoever the local syndicates will ensure that any foreign funding goes through their proper channels and possibly 'filter' out their cut. China is obviously after the resources and so are some of the BRICS countries. Surely South Africa is also a member of BRICS. Another drive to the African Continent is the Oil resources required for the immediate need by China & India. Africa is the focus for now from the BRICS side with China playing the banker

In my "non-expert" opinion, this is just another piece of the economic puzzle that is falling into place for China.

It is obvious that through recent trade agreements and development of infrastructure in the continent, China is hoping to harvest some kind of valuable resource from the African nations.

I would like to reference a previous thread i particpated in.

Chinese factory cities in Africa Thread

where we discussed the potential motivations for China to develop these large industrial cities that are uninhabited..

The only conclusions were for some future economic benefit. I would infer the same thing with the approval of these loans. Allow the countries to build up their infrastructure for big business, when they default on the loans......CHINESE TAKEOVER!

Originally posted by MDDoxswhen they default on the loans......CHINESE TAKEOVER!

The old game that has been used extensively throughout history amongst many civilizations Loan Sharking