Beijing finds pitfalls on the road to African adventures
As the mainland emerges as a world power and pushes into Africa, it is learning the hard way about the need to protect its citizens abroad and the consequences of economic influence, analysts and officials say.
With the world's largest foreign exchange reserves, China has the financial resources to pour massive aid into the continent.
African Development Bank president Donald Kaberuka said Beijing would provide US$20 billion in infrastructure and trade financing to Africa over the next three years, the Financial Times reported yesterday.
Mr Kaberuka brushed aside concerns about the mainland's investment.
'Chinese this, Chinese that. All business transactions have to be negotiated and I'm not persuaded finger-pointing will do Africa a service,' he said at the bank's annual meeting in Shanghai this week. Li Baoping , of the Africa Research Centre at Peking University, said the continent welcomed Chinese aid because Beijing did not impose conditions like some foreign lenders.
But critics say this 'no-strings attached' lending allows human rights abuses and corruption to take place.