The privatisation plan includes the sale of 17% of the public power corporation, the engineroom of growth, which will remove the state's controlling interest.

Under the new plan, foreign emissaries will be assigned to the main ministries and the company set up to privatise public wealth.

The market value of this stake is just €400m, because of the stock exchange decline. But the corporation owns 15 power plants and the budget for a new plant about to be built is €1.3bn.

The loss of economic sovereignty is accompanied by unprecedented attacks on the political and legal integrity of the country.

Under the new plan, foreign emissaries will be assigned to the main ministries and will run the companies that will privatise the public wealth.

Abuja subsequently adopted a new approach to international trade, balancing traditional Western partners and China.

The evolution of Nigerian-Chinese relations mirrors that of China's relationship with other African states (such as Angola, Sudan, and Zimbabwe) that sought alternative forms of aid and development packages following the imposition of sanctions by Western nations based on alleged human rights violations.

Today, more than 200 Chinese firms operate in Nigeria.

China agreed to provide Nigeria with a soft loan of $1.1 billion loan in exchange for Nigeria agreeing to increase its daily supply of oil to China ten-fold (from 20,000 barrels per day to 200,000) by 2015.

China recently embraced a new foreign policy in West Africa that contrasts with its traditionally passive approach to the spread of Islamic terrorism and extremism in Africa. Last year a Chinese diplomat in Mali pledged support for the Economic Community of West African States (ECOWAS)'s military campaign to dislodge Al Qaeda-affiliate groups in northern Mali.

China's number one concern in West Africa is access to natural resources and new consumer markets

While many Nigerians consider China's growing presence to be nothing short of a God send, others have raised concerns about Nigerian sovereignty, bearing in mind the impact Chinese trade and investment has had on other African countries.

The Chinese model of importing its own workers to build infrastructure projects, for example, does not sit well with many Nigerians.

A number of Nigerians have also voiced objections to the "slave-like" labor conditions in Chinese-operated factories across Nigeria. Attention was first brought to these conditions when 37 Nigerian workers died after being trapped inside a locked Chinese-owned factory that caught fire in 2002

Western powers that claim a desire to help Nigeria develop are often perceived as insincere, with their own aid being viewed as an infringement on Nigeria's sovereignty, since it often comes with strings attached.

China is Africa’s top business partner, with trade exceeding $166 billion. But it is not all minerals.

Machinery makes up 29%.

Last summer China’s commerce minister, Chen Deming, said the number “exceeded $14.7 billion, up 60% from 2009”.

Until recently China concentrated on a few big resource-rich countries, including Algeria, Nigeria, South Africa, Sudan and Zambia

Ethiopia and Congo, where minerals are scarce or hard to extract, are now getting more attention,

The first person to be expelled from Africa’s youngest country, South Sudan, was a Chinese: Liu Yingcai, the local head of Petrodar, a Chinese-Malaysian oil company and the government’s biggest customer, in connection with an alleged $815m oil “theft”.

Congo kicked out two rogue commodities traders in the Kivu region. Algerian courts have banned two Chinese firms from participating in a public tender, alleging corruption. Gabonese officials ditched an unfavourable resource deal. Kenyan and South African conservationists are asking China to stop the trade in ivory and rhino horn.

Yet a growing number of Africans say the Chinese create jobs, transfer skills and spend money in local economies.

Other popular fears triggered by China’s growing presence have also proved hollow. It has not stoked armed conflict. On the contrary, China has occasionally played peacemaker, although motivated by self-interest. Sudan and South Sudan are both big Chinese trade partners. When they hovered on the brink of war last year, China intervened diplomatically along with other powers.

Only in Africa’s largest economies has China become less popular. There it is increasingly seen as a competitor. Jacob Zuma, South Africa’s president, who long cultivated Chinese contacts, was last year forced by domestic critics to change posture

Like Xinhua, Li was at pains to combat perceptions of China acting as a “neo-colonial” power in Africa. His tour largely ignored the question of resource exploitation, and instead emphasized China-Africa cooperation in fields such as infrastructure, training and education, poverty reduction, environmental protection, and cultural exchange.

Li promised that China will help develop high-speed railways, highways, and regional airports in Africa, citing infrastructure construction as a top priority for Africa’s continued development.

These assurances will help counter Western criticisms that even China’s infrastructure development in Africa provides little benefit to the continent, as construction is often done by imported Chinese work crews.

coverage of Li’s stop in Angola, a major oil supplier, barely mentioned China’s oil deals. Instead Li focused on more general Chinese investment in the country, including plans to expand cooperation in infrastructure and agriculture.

Starting with Mao Zedong, China forged a strong bond with Africa based on their common identities as victims of colonial exploitation.

China wanted to emphasize its altruism, playing up the unconditional nature of its aid money, and emphasizing the real-world benefits its investment and technology transfers would bring to African people

The growth of nuclear weapons has made out of date the old-fashioned balance of power which rested upon the ultimate sanction of a major war. Certainty of mutual mass destruction effectively prevents either of the great power blocs from threatening the other with the possibility of a world-wide war, and military conflict has thus become confined to ‘limited wars’. For these neo-colonialism is the breeding ground.

Limited war, once embarked upon, achieves a momentum of its own. Of this, the war in South Vietnam is only one example. It escalates despite the desire of the great power blocs to keep it limited. While this particular war may be prevented from leading to a world conflict, the multiplication of similar limited wars can only have one end-world war and the terrible consequences of nuclear conflict.

Neo-colonialism is also the worst form of imperialism. For those who practise it, it means power without responsibility and for those who suffer from it, it means exploitation without redress.

In the days of old-fashioned colonialism, the imperial power had at least to explain and justify at home the actions it was taking abroad.

Neo-colonialism, like colonialism, is an attempt to export the social conflicts of the capitalist countries.

The problem which faced the wealthy nations of the world at the end of the second world war was the impossibility of returning to the pre-war situation in which there was a great gulf between the few rich and the many poor. Irrespective of what particular political party was in power, the internal pressures in the rich countries of the world were such that no post-war capitalist country could survive unless it became a ‘Welfare State’. There might be differences in degree in the extent of the social benefits given to the industrial and agricultural workers, but what was everywhere impossible was a return to the mass unemployment and to the low level of living of the pre-war years.

In the past it was possible to convert a country upon which a neo-colonial regime had been imposed — Egypt in the nineteenth century is an example — into a colonial territory.

The essence of neo-colonialism is that the State which is subject to it is, in theory, independent and has all the outward trappings of international sovereignty. In reality its economic system and thus its political policy is directed from outside.

e, but neo-

The neo-colonial State may be obliged to take the manufactured products of the imperialist power to the exclusion of competing products from elsewhere. Control over government policy in the neo-colonial State may be secured by payments towards the cost of running the State, by the provision of civil servants in positions where they can dictate policy, and by monetary control over foreign exchange through the imposition of a banking system controlled by the imperial power.

Where neo-colonialism exists the power exercising control is often the State which formerly ruled the territory in question, but this is not necessarily so. For example, in the case of South Vietnam the former imperial power was France, but neo-colonial control of the State has now gone to the United States.

The control of the Congo by great international financial concerns is a case in point.

The result of neo-colonialism is that foreign capital is used for the exploitation rather than for the development of the less developed parts of the world. Investment under neo-colonialism increases rather than decreases the gap between the rich and the poor countries of the world.

The struggle against neo-colonialism is not aimed at excluding the capital of the developed world from operating in less developed countries. It is aimed at preventing the financial power of the developed countries being used in such a way as to impoverish the less developed.

The system of neo-colonialism was therefore instituted and in the short run it has served the developed powers admirably. It is in the long run that its consequences are likely to be catastrophic for them

Neo-colonialism is based upon the principle of breaking up former large united colonial territories into a number of small non-viable States which are incapable of independent development and must rely upon the former imperial power for defence and even internal security. Their economic and financial systems are linked, as in colonial days, with those of the former colonial ruler.

In the neo-colonialist territories, since the former colonial power has in theory relinquished political control, if the social conditions occasioned by neo-colonialism cause a revolt the local neo-colonialist government can be sacrificed and another equally subservient one substituted in its place.

The introduction of neo-colonialism increases the rivalry between the great powers which was provoked by the old-style colonialism. However little real power the government of a neo-colonialist State may possess, it must have, from the very fact of its nominal independence, a certain area of manoeuvre. It may not be able to exist without a neo-colonialist master but it may still have the ability to change masters.

The ideal neo-colonialist State would be one which was wholly subservient to neo-colonialist interests but the existence of the socialist nations makes it impossible to enforce the full rigour of the neo-colonialist system. The existence of an alternative system is itself a challenge to the neo-colonialist regime. Warnings about ‘the dangers of Communist subversion are likely to be two-edged since they bring to the notice of those living under a neo-colonialist system the possibility of a change of regime.

In fact neo-colonialism is the victim of its own contradictions. In order to make it attractive to those upon whom it is practised it must be shown as capable of raising their living standards, but the economic object of neo-colonialism is to keep those standards depressed in the interest of the developed countries.

Their manufacturers naturally object to any attempt to raise the price of the raw materials which they obtain from the neo-colonialist territory in question, or to the establishment there of manufacturing industries which might compete directly or indirectly with their own exports to the territory.

In the end the situation arises that the only type of aid which the neo-colonialist masters consider as safe is ‘military aid’.

Once a neo-colonialist territory is brought to such a state of economic chaos and misery that revolt actually breaks out then, and only then, is there no limit to the generosity of the neo-colonial overlord, provided, of course, that the funds supplied are utilised exclusively for military purposes.

Military aid in fact marks the last stage of neo-colonialism and its effect is self-destructive. Sooner or later the weapons supplied pass into the hands of the opponents of the neo-colonialist regime and the war itself increases the social misery which originally provoked it.

Nowhere has it proved successful, either in raising living standards or in ultimately benefiting countries which have indulged in it.

This book is therefore an attempt to examine neo-colonialism not only in its African context and its relation to African unity, but in world perspective. Neo-colonialism is by no means exclusively an African question. Long before it was practised on any large scale in Africa it was an established system in other parts of the world

‘The industrial nations have added nearly $2 billion to their reserves, which now approximate $52 billion. At the same time, the reserves of the less-developed group not only have stopped rising, but have declined some $200 million. To analysts such as Britain’s Miss Ward, the significance of such statistics is clear: the economic gap is rapidly widening “between a white, complacent, highly bourgeois, very wealthy, very small North Atlantic elite and everybody else, and this is not a very comfortable heritage to leave to one’s children.”

‘For the vast majority of mankind the most urgent problem is not war, or Communism, or the cost of living, or taxation. It is hunger. Over 1,500,000,000 people, some-thing like two-thirds of the world’s population, are living in conditions of acute hunger, defined in terms of identifiable nutritional disease.

What is lacking are any positive proposals for dealing with the situation. All that The Wall Street Journal’s correspondent can do is to point out that the traditional methods recommended for curing the evils are only likely to make the situation worse.