Nigeria central banker says China’s Africa embrace self-serving
(03-13 16:06)
China is engaged in the African continent for its own interests, Nigeria’s central banker has said.
Nigeria Central Bank Governor Lamido Sanusi, whose father was previously Nigeria’s ambassador to Beijing, says Africa must remove “the rose-tinted glasses through which we view China.’’ He made the observations in an opinion published in the Financial Times today.
He says Africa must shake off its romantic view of China and accept that it is a competitor.
In the article, Sanusi touches on the exploitative aspects of China’s involvement in Africa and likens it to exploitation of the continent by the British colonials.
“China takes from us primary goods and sells us manufactured ones. This was also the essence of colonialism.’’
He cautions that Africa is opening itself up to a new form of imperialism.
Sanusi encourages African countries to start producing and consuming its own goods, rather than consuming Chinese-made goods, and urges Africa to “actively fight off Chinese imports promoted by predatory policies.’’
Trade between China and Africa was worth more than US$200 billion in 2012, 20 times what it was in 2000, the FT reported.
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