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Business News of Friday, 24 March 2017

Source: classfmonline.com

China taking over Africa’s economy – Lecturer

This picture shows an African buying shoes from a Chinese This picture shows an African buying shoes from a Chinese

China is currently an economic giant in Africa and gradually taking control of Africa’s economy, Esther Armah, an international journalist and lecturer at Webster University, has stated.

According to her: “Data reveals that China has overtaken America as Africa’s economic powerhouse since 2009. At this point I don’t know if you can call the relationship between Africa and China as a partnership. There is an economic takeover happening and it is happening because of the way African nations negotiate and deal with China.”

She was of the view that the Asian country does not go to African countries without any expectations and benefits. For her, African leaders virtually beg and do not negotiate deals that will benefit their countries.

Ms Armah was also not enthused about reports of Vice President Bawumia trying to engage with Chinese officials to build a chamber for Ghana’s parliament.

“So you have a politics of independence, a politics of reform and a politics of economic liberation, and then your practice goes right back to ‘let me go and beg China to come and help us’. As if China wants nothing back,” she underscored.

Ms Armah, who was a guest on Class FM’s World Affairs on Friday, March 24, told host Dr Etse Sikanku that it was high time African leaders built confidence and shunned the beggar-helper relationships with foreign countries.

For her, the country has more resources than many developed countries and Africans must explore and use resources to build wealth for African countries.