Agence France-Presse,
Johannesburg: China is not the only investor motivated by self-interest in its pursuit of closer ties with Africa, a continent in dire need of generous new friends, South African observers believe. Human rights concerns raised as China and Africa bond economically and politically, while not to be dismissed, come mostly from economic rivals whose own democratic records leave much to be desired, they say.
“Investments from China suffer similar defects than investments from other countries,” South African Institute for International Affairs trade research fellow Peter Draper told AFP.
“It is not the only country interested in African resources.”
In a move seen as significant and symbolic by analysts, the African Development Bank (ADB), a continental vehicle for social progress, is to hold its annual meeting in Shanghai next week.
China has been extending its financial footprint in Africa, a source of many of the commodities it needs for economic expansion, including oil.
Concerns are regularly raised about deepening political exchanges between two regions sharing a vehement anti-imperialist stance and some undemocratic features.
While some African nations, including South Africa, are fearful of becoming mere raw material suppliers for Chinese growth, Beijing has denied suggestions it would become the continent's next coloniser.
“China has never imposed its will or unequal practices on other countries. It will certainly not do anything harmful to the interests of Africa and its people,” Chinese President Hu Jintao said on a visit to South Africa in February.
Iraj Abedian, chief economist of the independent Pan African Investment and Research Services analysis company, says China, like any other investor, was driven firstly by self-interest.
“It has become quite an open secret that China is becoming what European countries were in Africa in the last century,” he told AFP.
But China was perceived by Africa as a more benign trading partner than the continent's former colonial masters, even though its democratic deficiencies could make it easier for Chinese companies and parastatals to exploit resources recklessly.
He said while a solution could lie in Africa entering into a professional agreement with investors, the continent was not independent enough financially to set terms and was made vulnerable by governance and capacity weaknesses. “The real danger is not exclusively related to China. It is that Africa's own shortcomings leaves it open to exploitation.”
He said Africa was in dire need of investment, wherever it came from, to grow exports, reduce the trade deficit and pay off debt.
Africa's generally positive attitude towards China's rising profile was partly due to it being “thoroughly sick of the West and its lecturing on what to do to develop,” Draper added.
“Investment from China has far less strings attached.”
According to Abedian, many African countries were desperate to find a trading counter-balance to the West.
“Some are so grateful for investment they are oblivious to its consequences.”
These included China's support for “despots and autocrats” like the governments of Sudan and Zimbabwe to the detriment of the citizenry.
The ADB says African trade with China rose from 10 billion dollars in 2000 to over 40 billion dollars last year.
“China is well on track to become Africa's third largest trading partner in the near future.”
Ismail Momoniat, head of economic policy and international financial relations at the South African Treasury, said he failed to understand much of the concern, adding: “China has never colonised an African country.
“Developed countries deal with oil producing countries all the time that are not necessarily democratic. Why is that not an issue?”
