So my heading is a bit over dramatic. This is an interesting development. Being interested in sustainable development, I don’t think it is important to worry about the nationality of the investment. But I do worry about how responsible it is.
I was please to read this article today, “As Chinese Investment in Africa Drops, Hope Sinks” (also a bit over dramatic). While I don’t find lost hope something to celebrate, the article pleases me since it shows that natural resource extraction won’t be simply a race to the bottom when it comes to environmental and social development. There are glimmers that exploitation, regardless of nationality, will be rejected by Guinea.
Hamidou Condé works bare-chested under the relentless sun, digging a hole for the foundation of a new hospital being built by a Chinese company, yet another symbol of Chinese-Guinean friendship.
Mr. Condé, 35, who has two wives and four children, said that he had been digging in the hard rock with a shovel, pick and ax for two months, but that he had yet to receive any pay from his Chinese taskmasters.
“We work like slaves,” Mr. Condé said. “And like slaves we are not paid. The Chinese bring nothing good to Guinea.”
I would venture to say many African countries don’t “still need the the West’s help after all”, they need responsible investment. For Mr. Condé’s sake, I hope the drop in commodity prices is a good reminder that process matters, especially in a downturn when investors are tightening their belts.
