this post was submitted on 05 Oct 2023
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China at least tries to develop the economy. China isn't really desperate for cheap natural resources as much as they are desperate for markets to export their manufactured goods.
Shifting these economies away from being entirely resource-based is the single greatest thing anyone can do to reduce poverty in the region.
Thus killing local manufacturing.
Are you under the impression that China hasn't seen salary growth in the past few decades and thus can outcompete them? China's median salary today is a third of the US and China's median salary in tier 1 cities is almost on par in some fields.
There's a limit because it means that these less-developed countries can't leapfrog the Chinese economy while depending solely on Chinese support, but that's a problem for after economic independence and consistent economic growth are achieved.
What are you on about?
African countries have been flooded by Chinese goods, to the point that it has killed the local manufacturing in Africa. Look it up.
They don't have the service industry the west has, so the only thing they can offer in return are raw materials, which China is happy to take.
Lemmy seems to hate went a western company exploits natural resources in Africa, but when China does it, they are somehow saving those poor people from the goodness of their hearts.
Manufacturing output from sub-Saharan Africa grew from $58B in 2000 to $201B in 2019 (this is, of course, after decades of no growth prior to 2000 under Western exploitation). China first initiated the strategic partnership with African countries in 2000 at FOCAC. Objectively and quantitatively, Africa's manufacturing output has grown and that growth has coincided with China's focus on the region.