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« AES faces uncertainty under Chavez nationalization threat | Main | Chinese bank takes over Manila project »

January 12, 2007

China treads on western toes in Africa

Source: Financial Times

By Alan Beattie and Andrew Yeh

It is not hard to tell when China is on a charm offensive in an African country. New government buildings spring up, office walls are decorated with ancient Chinese poems. The hotels are thronged with Chinese soldiers. And a growing number of Chinese traders are selling food and shoes in the street markets.

Western donor governments and the multilateral banks they control are worried that this highly visible presence could do more harm than good - that by ignoring rules that prevent aid money being misspent and government debt rising out of control, China is undoing years of patient work.

Full story...

Posted by pichu at January 12, 2007 12:07 PM