Thursday, April 27, 2006 - 6:47 PM
As mentioned by Jai in the morning brief, Chinese President Hu Jintao was in Nigeria today, hailing the “strategic partnership” linking China to Africa in front of parliament. He then jetted off to Kenya for a three-day visit. By now, everybody and their grandma knows that China is pursuing influence in Africa, by providing interest free loans, giving political support to international pariahs like Zimbabwe and Sudan, and generously building up assets and infrastructure. In exchange, Chinese companies (often state-owned) get contracts to dig up oil and other natural resources, Taiwan gets snubbed at the UN, and China builds a reserve of goodwill that will come in handy, say, 20 years from now. While this Chinese policy undermines the work of institutions like the IMF and doesn’t really help fight corruption or kleptocracy, Chinese investment is helping Africa’s economy: and for Africans that's what counts.Passport, FP’s flagship blog, brings you news and hidden angles on the biggest stories of the day, as well as insights and under-the-radar gems from around the world.
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