“Our meeting today will go down in history; China will forever be a good friend, good partner, good brother of Africa.” The Chinese President Hu Jintao says during the opening ceremony of the three-day China-Africa summit (Nov. 4 – 6) – a much publicized event in the blogosphere and media. And there is very justification for this media blitz on this new economic Sino-African alliance; afterall, China just pledged to “double its aid to Africa and provide $5bn in loans and credits over the next three years.”
This is a sweet no-strings attached deal that will involve the exportation of African abundant natural resources to the Chinese hinterland. Already, trade between China and Africa spiked 39% to almost $40 billion last year, and just some weeks earlier, China just signed an $8 billion railway construction deal in Nigeria.
As African heads of state dine and discuss business with the Chinese, I hope they are also doing some self evaluation, particularly on two issues: