how China sees Africa: We get commodities, you get infrastructure. Cool?

H/T Paul Kedrosky! On the shopping list for my next civilisation run is the latest bestseller "The Ascent of Money: The Financial History of the World" of Niall Ferguson, a Scottish intellectual gifted with breaking down history, finance and politics into simple understandable language. Here he talks about China and Africa in an interview: Q Is China’s rise to power a bad thing? A It is not a bad thing that the most populous country in the world is emerging from grinding poverty and hundreds of thousands of people who were in subsistence agriculture now have better paying jobs. That can’t be a bad thing. The problem is that in the realm of politics, China’s [position] is not necessarily benign. They [do not] remotely share our … [Read more...]