Zuma could open door for China

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boramk

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Port Elizabeth - South Africa has so far had less exposure to China than other African countries, but if Jacob Zuma becomes president greater emphasis could be placed on relations with the East.

Thabo Mbeki, who on Sunday announced his resignation as president, has always been mistrustful of the Chinese and their possible exploitation of Africa, but Zuma seems better disposed towards the Chinese, says Daniel Silke, an independent political analyst.

China's interest in Africa is becoming ever more evident with the burgeoning global demand for scarce raw materials, resources and commodities, Silke told the Master Builders of South Africa convention on Monday.

The Chinese enter into raw material transactions with different countries in exchange for thousands upon thousands of dollars' worth of infrastructure.

According to Silke, the Chinese impose no conditions in regard to political or other reforms on these countries.

Just as important as the role emerging economies occupy in anyone's future planning is the grading of companies and countries by rating agencies.

Yesterday's warning from international rating agency Moody's that South Africa should not diverge from its economic course in the current political turmoil indicates the authority these institutions wield, says Silke.

Money power shifting

He considers it unlikely that South Africa would adopt a different economic course since this would have massive consequences for the country.

The Russian stock exchange, for example, recently fell 50%, which can be partly ascribed to its invasion of Georgia.

The world's emerging markets are creating a new group of consumers who will have a significant influence on brands and retail sales in the future, added Silke.

India is already the world's eighth largest retail market - and half its inhabitants are younger than 25.

Another question that arises is who the future world powers will be. Silke reckons it's no longer a question merely of greater military or political power, but also one of economic power.

If one compares China's $1650bn in foreign reserves with the US's $62bn, the direction in which money power is shifting is clear.
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View it as however you wish.
But I don't like the idea :(
 
Yes, it means they will move in here in even bigger droves than they already are. As far as I am concerned there's far too many of them in SA.

Furthermore they will come in here and exploit us and our resources.

They'll REALLY dump us full of their rubbish cheap junk products when this happens. Then we'd see an explosion of Chinese deathtraps on the roads, stuff that would never pass SABS testing in a million years.
 
Turiko said:
Yes, it means they will move in here in even bigger droves than they already are. As far as I am concerned there's far too many of them in SA.

Furthermore they will come in here and exploit us and our resources.

They'll REALLY dump us full of their rubbish cheap junk products when this happens. Then we'd see an explosion of Chinese deathtraps on the roads, stuff that would never pass SABS testing in a million years.
Click to expand...

Yeah, the neo-colonialists:mad:
 
Thabo Mbeki, who on Sunday announced his resignation as president, has always been mistrustful of the Chinese and their possible exploitation of Africa, but Zuma seems better disposed towards the Chinese, says Daniel Silke, an independent political analyst.
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What does Mr Silke base this on? Have I missed some major policy announcement from JZ?
 
Turiko said:
Yes, it means they will move in here in even bigger droves than they already are. As far as I am concerned there's far too many of them in SA.

Furthermore they will come in here and exploit us and our resources.

They'll REALLY dump us full of their rubbish cheap junk products when this happens. Then we'd see an explosion of Chinese deathtraps on the roads, stuff that would never pass SABS testing in a million years.
Click to expand...

I don't like Chinese business practices either but they'll come into SA whether we like it or not whether it was JZ or T-Boz running the country. If there's a gap for them in a certain market they'll try and exploit it. The only problem I have with the Chinese is that they put money before all else, one only needs to look at the current melamin scandal that has seen a massive recall of diary products in that country and Hong Kong. They've also not been shy in paying bribes to grease the wheelss of some officials.
 
Those gung-ho (or is that guang-ho?) about the Chinese economy might be interested to see discussions on the Chinese vs USA economy here ... the case is made that China faces major meltdown.
 
yeah let the chings bring business over here too, undercut the price on just about everything , while our workforce is toyi-toying, the chings are working for a pittence.

viva to increased unemployment - like thats all we need right now
 
The only problem I have with the Chinese is that they put money before all else, one only needs to look at the current melamin scandal that has seen a massive recall of diary products in that country and Hong Kong. They've also not been shy in paying bribes to grease the wheelss of some officials.
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My point exactly
 
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