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At least the west knew what they were getting into when they enabled the Chinese extraction system (no objections here, seemed like a fine quid pro quo for a wh

by neom 2y ago

At least the west knew what they were getting into when they enabled the Chinese extraction system (no objections here, seemed like a fine quid pro quo for a while). I don't expect we would see benevolence from China towards the west, I do hope they show it to the emerging countries, as they were not so long ago emerging themselves.

throwaway290 2y ago
Not sure I understand most of your comment, what extraction system?
- jcranmer 2y ago
  China tends to be even more narrowly focused than Western powers on mineral extraction in its African investment, and they also have a reputation for relying very heavily on imported Chinese labor in their projects, which means the benefits percolate less than they would with Western projects (itself a pretty meager benefit usually!). Or it could be a reference to the Chinese tendency to invest in the form of giving countries loans that they are ill-equipped to pay back, and China playing very hardball on poorest country debt forgiveness.
- neom 2y ago
  China emerged by building and selling. Part of the rise of china has been the extraction of wealth, resource, and knowledge. I don't say this with any shade, any emotion or feeling, just very literally. A large component of the ability for china to move forward so quickly was the creation of funnels that allowed for exchange. The west mostly extracted the labour and china extracted a bunch of other stuff. I can't think of a better word to describe what literally happened, and again, I'm not saying it with an opinion (that would be another discussion). Without any judgement, imo: China is good at creating extractive systems. (I'll add, if you've not read it, "Dealing with China An Insider Unmasks the New Economic Superpower By Henry Paulson" is a fantastic book)
  - throwaway290 2y ago
    OK, makes sense.
insane_dreamer 2y ago
> do hope they show it to the emerging countries, as they were not so long ago emerging themselves. That’s not how it works.

by neom 2y ago

throwaway290 2y ago

Not sure I understand most of your comment, what extraction system?

jcranmer 2y ago
China tends to be even more narrowly focused than Western powers on mineral extraction in its African investment, and they also have a reputation for relying very heavily on imported Chinese labor in their projects, which means the benefits percolate less than they would with Western projects (itself a pretty meager benefit usually!). Or it could be a reference to the Chinese tendency to invest in the form of giving countries loans that they are ill-equipped to pay back, and China playing very hardball on poorest country debt forgiveness.
neom 2y ago
China emerged by building and selling. Part of the rise of china has been the extraction of wealth, resource, and knowledge. I don't say this with any shade, any emotion or feeling, just very literally. A large component of the ability for china to move forward so quickly was the creation of funnels that allowed for exchange. The west mostly extracted the labour and china extracted a bunch of other stuff. I can't think of a better word to describe what literally happened, and again, I'm not saying it with an opinion (that would be another discussion). Without any judgement, imo: China is good at creating extractive systems. (I'll add, if you've not read it, "Dealing with China An Insider Unmasks the New Economic Superpower By Henry Paulson" is a fantastic book)
- throwaway290 2y ago
  OK, makes sense.

insane_dreamer 2y ago

> do hope they show it to the emerging countries, as they were not so long ago emerging themselves. That’s not how it works.