Furious George
11-04-2006, 10:30 AM
China has pledged to donate billions of dollars to Africa, the poorest continent in the world. Some may see this as suicide, but anyone with a brain would realize this is a genious idea. If this plan is succesful, this will lead to Africa becoming industrialized, and China becoming it's biggest profiteer. Not only is China lending the United States hundreds of billions, it will soon do the same for Africa. Pretty impressive for a 'commie' state, I must say. While, in reality, China isn't a true communistic state, it certianly is giving our Capitalist society a run for it's money.
I've been saying this forever. The best way to help a country like Africa, is to help them help themselves. Welfare is NO solution to poverty, and neither is sitting back doing nothing. If you give the people of Africa jobs, hope, and a future, they will bounce back with economic strength. Congratulations China, you have played your cards like a true capitalist, and will soon reap the benefits.
http://www.forbes.com/home/feeds/ap/2006/11/04/ap3145612.html
China launched a sweeping effort Saturday to expand its access to Africa's oil and markets, pledging billions of dollars in aid and loans as dozens of leaders from the world's poorest continent opened a conference aimed at building economic ties.
African leaders at the two-day meeting said they welcomed Chinese investment and business ties, but Beijing also faces criticism that it is treating Africa like a colonial territory and supports regimes with poor human rights records.
President Hu Jintao pledged to double China's aid to Africa from its 2006 level by 2009. Speaking at the conference's opening ceremony, he promised $3 billion in loans, $2 billion in export credits and a $5 billion fund to encourage Chinese investment in Africa.
"Chinese assistance to Africa is sincere, unselfish and has no strings attached," Premier Wen Jiabao said at a gathering of Chinese and African entrepreneurs held as part of the conference.
Possibly reacting to criticism that China's aid to Africa might fuel human rights abuses or corruption, Wen promised to ensure that projects are "open, just, fair and transparent."
The two-day event includes heads of state from 35 of the 53 African nations and top officials from 13 others - one of the largest such gatherings in history.
China's trade with Africa soared to $39.7 billion last year, four times its 2000 level, according to Wen. He called for efforts to boost that to $100 billion by 2020 and promised to open China's markets wider to African exports.
China's state oil companies are expanding in Africa, signing deals in Nigeria, Angola, Sudan and elsewhere. Manufacturers are trying to expand exports to African markets.
Human rights activists accuse China of supporting governments such as Sudan and Zimbabwe that are accused of chronic abuses. African business groups complain about poor treatment by Chinese companies and competition from a flood of low-cost imports.
But a succession of African leaders who spoke Saturday said they want closer commercial ties with China and hope to learn from its two-decade-old boom as they try to reduce poverty.
"Chinese companies can become key players by investing in our development processes," said President Paul Kagame of Rwanda.
Hu said Beijing also will forgive debts owed by the poorest African countries and grant more of their goods tariff-free import status.
China will train 15,000 African professionals, build schools, hospitals and anti-malaria clinics, send agriculture experts and youth volunteers to Africa and build a new conference center for the African Union, Hu said.
He said China would double the number of scholarships given to African students to 4,000 by 2009.
At a banquet Saturday, Hu invoked the shared history of colonialism in China and Africa and their struggle with poverty.
"The Chinese people rejoice at the achievements made by the African people," he said. "The Chinese people will continue to provide assistance and support to African people in an effort to achieve common development."
The New York-based group Human Rights Watch appealed to Beijing on Saturday to be judicious in giving aid. It called on Chinese leaders to avoid giving Sudan assistance that might fuel the Darfur conflict and to stop supplying Zimbabwe with electronic surveillance and Internet-censoring technology.
"Africans do not need another external power enabling abusive regimes," the group said in a statement.
World Bank President Paul Wolfowitz accused Chinese banks last month of ignoring human rights and environmental standards in Africa. He warned that their surge in lending could fuel corruption and debt burdens.
This weekend's conference is a major prestige event for China's communist leadership.
The capital was hung with banners welcoming the African leaders. The government called on residents to avoid driving to keep streets clear for their motorcades.
On Saturday, state television showed Chinese surgeons working in African hospitals, a Kenyan stadium paid for by Beijing, and Chinese and African students dancing together.
I've been saying this forever. The best way to help a country like Africa, is to help them help themselves. Welfare is NO solution to poverty, and neither is sitting back doing nothing. If you give the people of Africa jobs, hope, and a future, they will bounce back with economic strength. Congratulations China, you have played your cards like a true capitalist, and will soon reap the benefits.
http://www.forbes.com/home/feeds/ap/2006/11/04/ap3145612.html
China launched a sweeping effort Saturday to expand its access to Africa's oil and markets, pledging billions of dollars in aid and loans as dozens of leaders from the world's poorest continent opened a conference aimed at building economic ties.
African leaders at the two-day meeting said they welcomed Chinese investment and business ties, but Beijing also faces criticism that it is treating Africa like a colonial territory and supports regimes with poor human rights records.
President Hu Jintao pledged to double China's aid to Africa from its 2006 level by 2009. Speaking at the conference's opening ceremony, he promised $3 billion in loans, $2 billion in export credits and a $5 billion fund to encourage Chinese investment in Africa.
"Chinese assistance to Africa is sincere, unselfish and has no strings attached," Premier Wen Jiabao said at a gathering of Chinese and African entrepreneurs held as part of the conference.
Possibly reacting to criticism that China's aid to Africa might fuel human rights abuses or corruption, Wen promised to ensure that projects are "open, just, fair and transparent."
The two-day event includes heads of state from 35 of the 53 African nations and top officials from 13 others - one of the largest such gatherings in history.
China's trade with Africa soared to $39.7 billion last year, four times its 2000 level, according to Wen. He called for efforts to boost that to $100 billion by 2020 and promised to open China's markets wider to African exports.
China's state oil companies are expanding in Africa, signing deals in Nigeria, Angola, Sudan and elsewhere. Manufacturers are trying to expand exports to African markets.
Human rights activists accuse China of supporting governments such as Sudan and Zimbabwe that are accused of chronic abuses. African business groups complain about poor treatment by Chinese companies and competition from a flood of low-cost imports.
But a succession of African leaders who spoke Saturday said they want closer commercial ties with China and hope to learn from its two-decade-old boom as they try to reduce poverty.
"Chinese companies can become key players by investing in our development processes," said President Paul Kagame of Rwanda.
Hu said Beijing also will forgive debts owed by the poorest African countries and grant more of their goods tariff-free import status.
China will train 15,000 African professionals, build schools, hospitals and anti-malaria clinics, send agriculture experts and youth volunteers to Africa and build a new conference center for the African Union, Hu said.
He said China would double the number of scholarships given to African students to 4,000 by 2009.
At a banquet Saturday, Hu invoked the shared history of colonialism in China and Africa and their struggle with poverty.
"The Chinese people rejoice at the achievements made by the African people," he said. "The Chinese people will continue to provide assistance and support to African people in an effort to achieve common development."
The New York-based group Human Rights Watch appealed to Beijing on Saturday to be judicious in giving aid. It called on Chinese leaders to avoid giving Sudan assistance that might fuel the Darfur conflict and to stop supplying Zimbabwe with electronic surveillance and Internet-censoring technology.
"Africans do not need another external power enabling abusive regimes," the group said in a statement.
World Bank President Paul Wolfowitz accused Chinese banks last month of ignoring human rights and environmental standards in Africa. He warned that their surge in lending could fuel corruption and debt burdens.
This weekend's conference is a major prestige event for China's communist leadership.
The capital was hung with banners welcoming the African leaders. The government called on residents to avoid driving to keep streets clear for their motorcades.
On Saturday, state television showed Chinese surgeons working in African hospitals, a Kenyan stadium paid for by Beijing, and Chinese and African students dancing together.