You missed the point.
Do you know why white countries are attacking China for her African deals?
Most of you think it’s because of Africa rising debt levels or Chinese growing political influence.
Nan. Those are minor points in the big picture. African total debt is less than the money white countries spend to feed their dogs and cats. And when it comes to political and cultural influence, white countries completely dominate the African scene. Not much to worry about.
The real worry comes from the parallel financial instruments China is putting in place, to circumvent the white financial systems.
China is doing bartering with Africa. China will build roads, railways, airports, etc in Africa in exchange of natural resources like bauxite, iron, phosphate, etc.
If you’d take the most recent deal of 60 billions dollars, if that money would have gone through the white financial banks and instruments which currently trap the continent, China and Africa would have paid over 5 billions dollars in transactions and settlement to Europeans banks and middle men.
Beyond what is fairly a small amount of money, the new ledger instruments China is putting in place are very interesting to observe like the Medici ledger system of Florence in the 16th century grew up to become the financial tool of the emerging Europe from dark age.
Bartering ledgers are likely to sprout on the continent as powerful tools to get rid of the white countries financial imperialism.
For young African in the Fintech area this is a very interesting area to observe, though quite primitive at this time.
We would never free Africa and the rest of the world without building a different financial system, and China is showing us the way.