Nowhere is China’s growing reach more obvious than in Africa. President Xi Jinping just returned from a trip during which he promised African officials $60 billion in new investment. Beijing also has grown more active culturally, educationally, and even militarily.
The PRC’s increasing role has created unease in Washington. But China has run into many of the same sort of problems which faced America in the past.
The U.S. obviously fears losing business: African trade with China surpassed that with America in 2009. Beijing undermines Western pressure to improve democracy and human rights.
Yet the ultimate results of President Xi’s visit remain to be seen. The photo ops were impressive, but both the pictures and promises may fade over time.
Dealing with the continent remains a challenge. Many African nations remain in crisis. The November terrorist attack in Mali killed three Chinese citizens.
The PRC appears willing to ignore some risks which deter Western countries and companies. However, no money put into Zimbabwe—a large destination of Chinese investment—is likely to turn out well.
Osadebe Osakwe, managing director of North China Construction Nigeria, argued that “Unless the West changes its risk assessment, the Chinese will beat them to the African market.” But the market is not worth dominating at any price. Observed the New York Times: “Nigeria is a particularly shaky bet for China.”
Read more at http://www.cato.org/blog/winning-africa-might-not-be-worth-cost-china
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