AfricaFiles | Interview: China: Outsmarting the West in Africa - 0 views
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n DRC the Chinese made very sure that they put in the contract that the copper concession had to be evaluated so they could be sure there was enough copper in there, and copper that could be mined at a cost-effective price. But the Nigerian deal was never very secure... we still don’t know the details about it, but everything fell apart. The Mambila Hydro project also fell apart. There was no financing, the oil concessions they were offered turned to be not of good quality. There were a lot of things that happened that stopped these kinds of deals from going forward, the biggest being that the president who had negotiated the deal,
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The West looks at Africa as a place of war, disease, chaos and terrible things and a place to be pitied. The Chinese look at Africa as a place for consumers and business partners and it’s a very different picture.
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When they went to Ghana, they said, You want electricity, you want to develop the Bui Dam. We can do it. And they said, How we be sure you pay us? Ghana said, We have cocoa and the Chinese started up and they started an escrow account and the cocoa gets exported and money's paid into the escrow account to guarantee the loan. Deals like this happened across the continent. Its' not altruism, it's not foreign aid: it's about business, but looking at Africa in a different way.
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