China's Xi offers $60bn in financial support to Africa Xi Jinping pledges $60bn in financial aid to

[TomSea]

China's Xi offers $60bn in financial support to Africa
Xi Jinping pledges $60bn in financial aid to African countries and pledges to write off debt for poorer nations.

China's President Xi Jinping has offered $60bn in financial support to African countries and written off debt for poorer African nations.

Speaking at the opening of a major summit with African leaders in Beijing on Monday, Xi said the figure included $15bn in grants, interest-free loans and concessional loans, a credit line of $20bn, $10bn for "development financing" and $5bn to buy imports from Africa.

Government debt from China's interest-free loans due by the end of 2018 will be written off for indebted poor African countries, as well as for developing nations in the continent's interior and small island nations, Xi said.

Read more at: https://www.aljazeera.com/news/2018/09/china-xi-offers-60bn-financial-support-africa-180903100000809.html

[Fishrrman]

When America gives you money, you can waste it and no one will care.

When China gives you money, it looks like a gift, but...
... they are BUYING you.

[goodwithagun]

Modern colonization.

[sneakypete]

And they want absolutely nothing in return,because that's just the way the Chinese are.

[TomSea]

Modern colonization.

@goodwithagun

Interestingly, one of the newspapers even called it that as well:

China raises fears of 'new colonialism' with $60 billion investment across Africa
https://www.yahoo.com/news/china-raises-fears-apos-colonialism-173840507.html  (Daily Telegraph)

There gambit may pay off. That's contrary to most of the wisdom here. They must have a plan at the least.

[Absalom]

Actually, I can see the outlines of a grand strategy here by those wizards in China
Consider that China manufactures utter garbage from cuff-links to toasters to watches.
Now w/Africa in their economic pocket, the Chinese can shift their domestic production
to Africa, avoiding US and EU Tariffs while solving their crap product problem.
Seems like a slam dunk to me!
Africa............AFRICA?
Upon further review, maybe not??? 

[To-Whose-Benefit?]

Seen it characterized as Debt Trap Diplomacy.

Your little country takes the money, China prints up a ton more, moves in and builds their own military outposts, compromises your little Govt.

[sneakypete]

@goodwithagun


There gambit may pay off. That's contrary to most of the wisdom here. They must have a plan at the least.

@TomSea

Of course the Chinese have a plan. They ALWAYS have a plan.

The Africans? Not so much. They are going to come to look back on the days of European colonization as "the good old days" once the Chinese take over.

[To-Whose-Benefit?]

@TomSea

Of course the Chinese have a plan. They ALWAYS have a plan.

The Africans? Not so much. They are going to come to look back on the days of European colonization as "the good old days" once the Chinese take over.

Amen.

If you have time for a great, classic, two fisted novel about exactly that read 'Something of Value' by Robert Ruark.

It takes place in Kenya during the Mau Mau uprising.

[sneakypete]

Amen.

If you have time for a great, classic, two fisted novel about exactly that read 'Something of Value' by Robert Ruark.

It takes place in Kenya during the Mau Mau uprising.

@To-Whose-Benefit?

Too rich for my blood. The cheapest used one I could find was paperback for $112.

[IsailedawayfromFR]

! No longer available

[To-Whose-Benefit?]

@To-Whose-Benefit?

Too rich for my blood. The cheapest used one I could find was paperback for $112.

Oh My. I had no idea Pete. Looking at the Amazon page I see my copy of it looks like a 1955 1st edition.

Had it for decades, sitting on my shelf.

Guess I know what I'll have to sell to eat if the Rats win my State Govt again.

[To-Whose-Benefit?]

@sneakypete

This bookstore says they have a Doubleday hardcover for $7.98

https://www.alibris.com/Something-of-Value-Robert-Ruark/book/6200793

[sneakypete]

@sneakypete

This bookstore says they have a Doubleday hardcover for $7.98

https://www.alibris.com/Something-of-Value-Robert-Ruark/book/6200793

@To-Whose-Benefit?

Thanks,seeing that caused me to look a little harder,and I found one at Abe's Books in good condition a dollar cheaper,and bought it.

BTW,I was one of the people scheduled to jump into the Belgium Congo in civilian clothes to try to rescue citizens in 1965. We sat at the airfield at Pope AFB for 2 days waiting to see if we were going to go or not. Finally,NATO decided to send in a Belgium parachute unit as well as the French Foreign Legion. Africans knew better than to screw with the FFL,so they suddenly heard their mamas calling them home,and hauled ass out of Stanleyville,where they have been busy raping and eathing nuns and other white women in the streets. Their tribal witch doctor guaranteed them he had cast a spell making them immune to white people's bullets,which was what caused them to attack Stanleyville to start with,but they just weren't willing to test that theory with the FFL.

[To-Whose-Benefit?]

@To-Whose-Benefit?

Thanks,seeing that caused me to look a little harder,and I found one at Abe's Books in good condition a dollar cheaper,and bought it.

BTW,I was one of the people scheduled to jump into the Belgium Congo in civilian clothes to try to rescue citizens in 1965. We sat at the airfield at Pope AFB for 2 days waiting to see if we were going to go or not. Finally,NATO decided to send in a Belgium parachute unit as well as the French Foreign Legion. Africans knew better than to screw with the FFL,so they suddenly heard their mamas calling them home,and hauled ass out of Stanleyville,where they have been busy raping and eathing nuns and other white women in the streets. Their tribal witch doctor guaranteed them he had cast a spell making them immune to white people's bullets,which was what caused them to attack Stanleyville to start with,but they just weren't willing to test that theory with the FFL.

Great. Hope you enjoy it as much as I did.

It was said of Ruark by people who knew him that Bob knew enough about African game, hunting it, rifles, camp logistics etc. to be holding a Pro's License and taking clients out on Safari himself rather than paying to go out as a client.

[sneakypete]

Great. Hope you enjoy it as much as I did.

It was said of Ruark by people who knew him that Bob knew enough about African game, hunting it, rifles, camp logistics etc. to be holding a Pro's License and taking clients out on Safari himself rather than paying to go out as a client.

@To-Whose-Benefit?

I remember reading his short stories when I was a kid. Maybe in Outdoor Life?

[To-Whose-Benefit?]

Asia Times
Frank Chen Sept 4 2018

[excerpt]

http://www.atimes.com/article/chinese-netizens-fume-over-xis-us60-billion-africa-handout/

Chinese President Xi Jinping has announced 410 billion yuan (US$60 billion) in aid and investment for a plethora of infrastructure and development projects in Africa over the next three years.

In a keynote speech at the Forum on China-Africa Cooperation, Xi made the commitment to a packed auditorium inside the Great Hall of the People in Beijing. There, heads of state, diplomats and corporate leaders from 54 African nations and their Chinese counterparts gathered for the triennial forum on Monday.

The aid includes $15 billion in grants, interest-free or concessional loans; $10 billion in investment by state-owned and private Chinese companies; a $10-billion special fund for infrastructure development; and a $5-billion fund for financing African imports of Chinese goods and services, according to Xinhua.

[To-Whose-Benefit?]

Asia Times
Pepe Escobar Sept 4, 2018

[excerpt]

http://www.atimes.com/article/its-africas-choice-africom-or-the-new-silk-roads/

Apart from letting the numbers speak for themselves, Xi deftly counter-punched the current, massive BRI demonization campaign: “Only the people of China and Africa have the right to comment on whether China-Africa cooperation is doing well … No one should deny the significant achievement of China-Africa cooperation based on their assumptions and speculation.”

And once again Xi felt the need to stress the factor that does seduce, Africa-wide – Chinese non-politicization of investments, and Chinese non-interference in the internal affairs of African nations.

This comes right after Xi’s speech celebrating the five years of BRI, on Aug. 27, when he stressed Beijing’s organizing foreign policy concept for the foreseeable future has nothing to do with a “China club.”

[To-Whose-Benefit?]

[Suppressed]

Xi is shrewd. He's been using the profits of selling us commercial goods to buy up resources in Africa that they need.

[TomSea]

Africa has some precious metals.  If they are where the Chinese are building, I do not know.

There are some horrible terrorists in Africa, if they have to police them, I guess, that means us and others are not having to do it.

[TomSea]

Pictures from this announcement shows Xi with 40 African leaders, that would seem to suggest this will be for all over Africa.


https://www.newsweek.com/why-china-giving-africa-60-billion-no-political-strings-attached-investment-1104360

I watched some show, what if the Chinese, despite being human rights violators per nearly all sources, helped people out of povetry in Africa? An interesting trade-off.

[TomSea]

WHY CHINA IS GIVING AFRICA $60 BILLION IN 'NO POLITICAL STRINGS ATTACHED' INVESTMENT
BY CRISTINA MAZA ON 9/4/18 AT 12:39 PM

Chinese President Xi Jinping said Monday that his country would give $60 billion in aid and loans to Africa over the next three years without asking for any political concessions in return.

The announcement, made during the visit of more than 40 African leaders to China, appeared aimed at naysayers who claimed China was investing abroad in order to trap developing nations with large amounts of debt and make them beholden to Beijing. The East Asian country had been investing heavily in developing countries in Africa and Latin America, and international observers criticized Beijing for using its wealth to spread its influence across the globe and make other countries dependent.

"The Chinese have called their system 'socialism with Chinese characteristics.' Perhaps 'imperialism with Chinese characteristics' makes more sense," said John Pomfret, former Washington Post bureau chief in Beijing.

Read more at: https://www.newsweek.com/why-china-giving-africa-60-billion-no-political-strings-attached-investment-1104360

[skeeter]

The Chinese will never give something for nothing. That’s a concept unique to the West.

[To-Whose-Benefit?]

China's no Fairy Godmother.

They're gonna dig in and put their own puppets in charge of the locals.