Investment shoring up discredited despots

REPORTS that China is poised to invest as much as $10 billion in Zimbabwe are very disturbing, but unfortunately they come as no surprise.

China now has $114.8 billion worth of bilateral trade agreements with 45 African countries, its direct investments are worth $9.33 billion, and it has promised preferential loans to Africa to the tune of $10 billion (2010-2012).

The journalist Tom McGuire wrote recently of China’s growing influence in Africa: “China now pours billions into the coffers of corrupt African regimes in exchange for huge quantities of natural resources, and for access to their impoverished populations as a dumping-ground for poor-quality products unacceptable in western markets”.