Asia Times reports on the consequences of China’s aggressive investment in some of the world’s most unsavory regimes:
Where Western companies fear to tread because of small profit margins or environmental or political concerns, the Chinese have plunged in. China’s state-owned companies have the ability to put short-term profit aside and focus on the government’s long-term economic plans.
As for environmental and political qualms, Chinese leaders have made it clear that they don’t have many. In that way, China’s no-strings-attached approach to doing business in Africa flies in the face of Western concerns about democratic development and respect for human rights.
So despite the largely negative reaction in the West to China’s push into Africa, Chinese investment is clearly paying off. But how and for whom? Those are the sticky questions. [Full text]
On a similar topic, see also “Xinhua, Africa and the Free Market,” from Richard Spencer’s blog.
