China will spend $20 billion dollars in financing the trade market within three years; $800 million of the fund will go to Zambia. Chinese resources have skyrocketed; they have invested not only in the cotton gins running in Zambia, but Niger’s uranium to cobalt mines in the Congo.
Africa believes that China has put a strain on their progress, leaving many factory jobs obsolete. Their textile mills are no comparison to China’s leaving workers out on the streets. China, however believe that they have made a tremendous impact by providing cell phones, refrigerators, cheaper clothing, and allowing more money flow. Most importantly Zambia’s copper mines have soared, going from seventy-five cents to three dollars a pound. China has also announced they will be building a factory to support a metal company in Chambishi, allowing over 60,000 jobs to be available.
Zambia’s problem as many other surrounding areas are that China is, while they might be picking up elsewhere, hurting jobs in other parts of the country. They are dominating in others resources. Once a community thinks they are making it along, they wind up right back on the bottom, with little to show for it. For some it is even a toss up, believing they are better off than when they started.
I believe China has had a tremendous effect on the world’s economy, and their profits are growing immensely. They are in fact the world’s top trade influence to date. What America did to Chinese labor, they are simply doing the same thing to Zambia. Its cheap labor and minimum wages make for the best profit for China’s economy.
http://www.nytimes.com/2007/08/21/world/africa/21zambia.html?pagewanted=1&ei=5070&en=15d920951538ed4a&ex=1189137600
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