The New York Times reports from Guinea on its shifting relations with China:
As global commodity prices have plummeted and several of China’s African partners have stumbled deeper into chaos, China has backed away from some of its riskiest and most aggressive plans, looking for the same guarantees that Western companies have long sought for their investments: economic and political stability.
[…] Just a year ago China appeared to be upending the decades-old order in Africa, stepping into the void left by large Western companies too timid to invest in the continent’s resource-rich but fragile states as the market for copper, tin, oil and timber soared to new heights. In the new scramble for Africa’s riches, China sought a hefty share.
With a no-strings-attached approach and a strong appetite for risk, China seemed to offer Africa a complete economic and political alternative to the heavily conditioned aid and economic restructuring that Western countries and international aid agencies pressed on Africa for years, often with uninspiring consequences. Rising China, seeking friends and resources, seemed to be issuing blank checks.
Today, China’s quest for commodities has not stalled. State-owned companies are bargain-hunting for copper and iron ore in more stable places like Zambia and Liberia. But Chinese companies are now driving harder bargains and avoiding some of the most chaotic corners of the continent. African governments facing falling revenues are realizing that they may still need the West’s help after all.
