Uganda: The Lure of China's Cash is Irresistible

all africa ^ | 25 April 2008 | Henry Zakumumpa

[Flavius]

Henry Zakumumpa

'First we were afraid of the wolf, then we wanted to dance with the wolf now we want to be the wolf' a Chinese Central Bank official used this analogy to describe China's world trade rivalry with the United States. Chinese industrialisation is unfolding at an unprecedented speed while driving an enormous demand for raw materials and new markets.

China has become the 'factory of the world' for dominating global production of all goods imaginable from safety pins to domestic appliances because of its cheaper prices and low labour costs.

Pick up a souvenir from any western capital and chances are that beneath it will be the label 'Made in China'.

[Flavius]

t’s scramble and partition of Africa again, only this time it’s China’s turn. It has been widely reported that China now lends three times more money to Africa than the World Bank. Take a moment and think about that. We are in the midst of a shift in balance of power in Africa with the Chinese coming in as the new kids on the block.

wars have been started for less

[El Sordo]

Should be interesting to see if China can sustain this kind of growth.

When all is said and done, they still have a command economy I beleive.

[Leisler]

Lot of good the World Bank has done.
Good. Shut it down and let the World Bank people get jobs at McDonald's (although I doubt they could hack the pace).

I think the Africans can steal three times more with the Chinese money. Easy. They are just baiting the Chinese in an elaborate Nigerian email scam type of way. ‘Investing’, pshaw! I hear fortunes being flushed down the African development pipe.

Lastly, racially I don't think long term, finger snapping Chinese penny pinchers are going to be well loved.

[Nateman]

Let China flush it’s money down the African sink hole, less money for them to spend on weapons back home!