China investment: Working with a trilateral cooperation
Lu Shaye, director-general of the Department of African Affairs of the Foreign Ministry, said Western countries have proposed trilateral cooperation with China in Africa many times, and China is willing to cooperate with the international community to enhance Africa's development.
"The trilateral cooperation must be based on each side's interests and have Africa's consent," he said.
He added that trilateral cooperation based on equality shows an increase in Africa's international status and that African nations can cooperate with outside forces without being treated as colonies.
It is quite interesting to see that Africa is at the tip of everyone's tongue. I think business should be done fairly and the major beneficiary should be Africa. It is time Africa benefits ultimately from its resources to achieve development.
There are some interesting points in this article.
Reason for China's interest in Africa
China investment, the Asian nation is looking to bolster its economy by investing in Africa, and at the same time trying to unveil the hidden treasures of Africa, so that Africa can also enhance its economy. The video below illustrates China's strategy to become one of the strongest economies.
During the recent World Economic Forum 2011, China was the major topic. The discussion analyzes the interests of China in Africa, and its effects economically. See the video below for more information.
US and China: The fight for economic supremacy in Africa
China Investment in Africa has been a hot topic in the world. Hilary Clinton had something interesting to say about this, "We do not want to see a new colonialism in Africa." She later tried to water-down this statement and said, "We want to work more closely with China and other countries to make sure that when we are engaged with Africa, we are doing it in a sustainable manner that will benefit the nations and the people of Africa. And therefore, we have begun a dialogue with China about its activities in Africa.
A Chinese Foreign Ministry spokesman responded to Hilary Clinton's remarks on colonialism saying, "Both China and Africa suffered from colonial invasion and oppression in history, so they know best what colonialism is and the importance of respect and equality. China fully respects African countries' right to choose their development path. China never imposes its will on African countries, nor adds political conditions to its aid for Africa."
Clearly both China and USA are interested in Africa. It is a business opportunity that is open. Both nations have the right to take action, but Africa should benefit the most economically, then it is a fair situation.
In 2008/2009 the global economic crisis affected the mining industry in Zambia. Some foreign firms left Zambia, but China stayed put. The Chinese are now reaping the fruits of their tenacity given the rise in copper prices. China was applauded for its patience during the crisis, being termed as "all-weather friends."
The relationship between Zambia and China is flourishing. There are around 300 Chinese companies operating in Zambia, representing over $3bn of investment.
There are hidden treasures in Africa waiting to be unveiled, and the Chinese are in front of the line. As long as the business activities are done in a peaceful manner, and both Africans plus foreign investors benefit, then we are looking at a bright future in Africa.