The dragon smiled at the Eagle and weakened it

Filed under: Politics,Special Comments |

President Sata with Chinese Ambassador to Zambia Zhou Yuxiao oitside State House

Zambia’s President Michael Sata (L) listens to Chinese ambassador to Zambia Zhou Yuxiao at State House in the capital Lusaka, September 26, 2011. Sata told Beijing on Monday he welcomed Chinese companies investing in Africa’s biggest copper producer but only if they obeyed the law, especially by employing more Zambian workers.
In his first official appointment since being elected president on Friday, Sata met Chinese ambassador Zhou to dispel fears his sometimes fierce anti-Chinese rhetoric while in opposition would translate into a shift in investment policy. However, he also made clear that Chinese companies that have so far ploughed more than $2 billion into developing the mining sector in the southern African country would not be getting preferential treatment. REUTERS/Makson Wasamunu 

The Chinese dragon conquered the Zambia Eagle with a smile and not fire, on that day when Sata walked out of state house with the Chinese Ambassador, showing off a warm handshake.

Our incompetent government put a lot of money in infrastructure and ignored the fact that industry also needed to be strengthened and competitive. This went well with China’s so called win-win strategy across africa, of funding infrastructure across Africa as a vehicle to put up trade pivot with African countries.
The dragon didn’t have to be aggressive but just smile as government leaders stepped on each others’ toes for Chinese deals in the name of key solution to poverty, infrastructure development.
Now they have huge debts and falling tax incomes from the industry they thought would boom. How could industry boom if all billions are going to non-commercial government projects, some in less economic areas?
The Zambian companies are grappling with debt. Government is also grappling with debt. This is the centre of a rock and hard place.
The IMF only see one problem, corruption and overspending. The government hate their solutions and are ready for the Chinese friendlier loans and offer more contracts in return. This is slowly creating two economies, the chinese funded economic units and the under-funded Zambian economic units. So as the Chinese companies get stronger, the Zambia companies get weaker, all because of access to finance and preferential treatment by our own government.
This is the Chinese takeover building up, this is AVIC, this is PF’s fictitious patriotism, this is Zambia the real China.This is the story of how the Dragon conquered the eagle with a smile and not fire.
Richard W
Richard Waga

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