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AS CHINA’s economy stays on course for its speedy African growth, a really international repositioning of supremacy is occurring.
Territories that were controlled by the Western bloc for hundreds of years are now coming under China’s scope, testing the US’s ranking at the top of a once completely divided world.
I was reminded of that this week when an announcement came through that shareholders had voted overwhelmingly for the rescue plan of Chinese consortium StarTimes to take over struggling pay television service TopTV.
This new rescue strategy involves StarTimes paying out TopTV creditors including Disney, Warner and Fox International, who are reportedly owed an estimated R1.4bn.
This should be seen as a strategic acquisition for any right-thinking company or country.
But the US, which has some of the most cash flush broadcast media companies, was not at all interested in this strategic opportunity.
Why didn’t Warner and Fox International take over this stake in TopTV, when they were so directly exposed to it?
There could be many reasons for this but the economic downturn in the world’s biggest economy is uppermost in the list of reasons.
It is stifling all expansion plans.
However, the Chinese are availing themselves of opportunities presented in Africa with both hands.
In his first overseas trip as president Xi Jinping, when he visited three African countries (South Africa, Tanzania and the Democratic Republic of Congo) earlier this year, said: "China's image in Africa, once marred by suspicion, is changing...
"[A] growing number of Africans say the Chinese create jobs, transfer skills and spend money in local economies."
The source of China’s captivation with Africa is not difficult to realise. Stuck between the Sahara and the Kalahari wildernesses are various raw materials preferred by China’s businesses.
China recently, according to The Economist, surpassed the US as the globe’s biggest importer of oil. It has become Africa’s top business partner, with trade exceeding $166bn, the global magazine has reported.
However, it is not only raw materials that attract China to Africa. According to The Economist, exports to Africa are a mixed bag.
Now South Africans should prepare themselves for imported programming promoting Chinese culture and politics.
The scope of China’s direct investment in Africa is trickier to gauge than trade. But the country’s investment in the continent amounts to billions.
Bu all is not a bed of roses for the world’s most populous country. Criticism of China by Africans has emerged.
For example, Botswana's President Ian Khama believes his country has had some terrible incidents with Chinese firms.
He has grumbled about China's tendency of importing Chinese labour instead of usinsg African workers.
Additionally, other high-ranking government officials have warned that Africa is opening itself up to a fresh method of imperialism by doing business with China.
They have called upon African states to rid themselves of their love of China.
Many believe that China, as the second-biggest economy in the world, is also able exploit just like the West.
China's image in Africa invited more criticism recently, when the Zambian government took over a Chinese-run coal mine with a history of labour and safety problems.
It is understood that this is the same mine where more than two years ago Chinese managers opened fire, injuring 13 workers who had protested against starvation wages and poor working conditions.
Whichever way you look at it, China’s rapid expansion into Africa is viewed differently by many people.
But China has taken the centre stage in the continent as the US battles an economic downturn at home and fails to deepen its expansion in Africa.
- Fin24
*Mzwandile Jacks is a freelance journalist. Opinions expressed are his own.
Territories that were controlled by the Western bloc for hundreds of years are now coming under China’s scope, testing the US’s ranking at the top of a once completely divided world.
I was reminded of that this week when an announcement came through that shareholders had voted overwhelmingly for the rescue plan of Chinese consortium StarTimes to take over struggling pay television service TopTV.
This new rescue strategy involves StarTimes paying out TopTV creditors including Disney, Warner and Fox International, who are reportedly owed an estimated R1.4bn.
This should be seen as a strategic acquisition for any right-thinking company or country.
But the US, which has some of the most cash flush broadcast media companies, was not at all interested in this strategic opportunity.
Why didn’t Warner and Fox International take over this stake in TopTV, when they were so directly exposed to it?
There could be many reasons for this but the economic downturn in the world’s biggest economy is uppermost in the list of reasons.
It is stifling all expansion plans.
However, the Chinese are availing themselves of opportunities presented in Africa with both hands.
In his first overseas trip as president Xi Jinping, when he visited three African countries (South Africa, Tanzania and the Democratic Republic of Congo) earlier this year, said: "China's image in Africa, once marred by suspicion, is changing...
"[A] growing number of Africans say the Chinese create jobs, transfer skills and spend money in local economies."
The source of China’s captivation with Africa is not difficult to realise. Stuck between the Sahara and the Kalahari wildernesses are various raw materials preferred by China’s businesses.
China recently, according to The Economist, surpassed the US as the globe’s biggest importer of oil. It has become Africa’s top business partner, with trade exceeding $166bn, the global magazine has reported.
However, it is not only raw materials that attract China to Africa. According to The Economist, exports to Africa are a mixed bag.
Now South Africans should prepare themselves for imported programming promoting Chinese culture and politics.
The scope of China’s direct investment in Africa is trickier to gauge than trade. But the country’s investment in the continent amounts to billions.
Bu all is not a bed of roses for the world’s most populous country. Criticism of China by Africans has emerged.
For example, Botswana's President Ian Khama believes his country has had some terrible incidents with Chinese firms.
He has grumbled about China's tendency of importing Chinese labour instead of usinsg African workers.
Additionally, other high-ranking government officials have warned that Africa is opening itself up to a fresh method of imperialism by doing business with China.
They have called upon African states to rid themselves of their love of China.
Many believe that China, as the second-biggest economy in the world, is also able exploit just like the West.
China's image in Africa invited more criticism recently, when the Zambian government took over a Chinese-run coal mine with a history of labour and safety problems.
It is understood that this is the same mine where more than two years ago Chinese managers opened fire, injuring 13 workers who had protested against starvation wages and poor working conditions.
Whichever way you look at it, China’s rapid expansion into Africa is viewed differently by many people.
But China has taken the centre stage in the continent as the US battles an economic downturn at home and fails to deepen its expansion in Africa.
- Fin24
*Mzwandile Jacks is a freelance journalist. Opinions expressed are his own.
