Friends With Benefits

Implications: This article is a concise description of the economic and political relationship between China and Africa.  Worth reading, since the impact of this relationship is broader than one would assume.

Analysis: Shortly after most of Africa's debts were forgiven via the UN's HIPC project, China began offering several countries on the continent unconditional low-cost loans.
 
It is easy to understand China's motivation to provide Africa with cheap funding without requiring the enforcement of basic human rights, environmental  protection or anti-corruption legislation.  It is also easy to understand why certain African countries eagerly accepted China's money, unbridled from the pesky conditions Western lenders require.

So it is a win-win relationship between these two new friends.  China gets access to the African commodities that are crucial to its maintaining its economic growth.  After all US$1trillion in reserves can go quickly and China is still considered a poor, emerging market, eligible for aid from the World Bank and its cohorts.

Africa gets something other than cheap money.  Not jobs for its people -most of the jobs at plants purchased by the Chinese are taken by Chinese employees, with the exception of the most hazardous duties -but something even better.  China's diplomatic protection and support via its position in the UN.  China declined support for the UN's resolution to send peacekeeping forces to Darfur, which enabled Khartoum to continue its bloody business, uninterrupted.

That's what friends do -they support each other.  The world awaits what new arrangements have been agreed to when President Hu returns from his visit