A report on Angola prior to elections shows a booming economy. Oil is a major factor, and Angola has mineral wealth too. China is a major player and gets most of its oil from this source.
So what has happened to the poverty that Africans have faced under colonial rule? It sound as if that is not defeated yet and that a “trickle-down” policy is at play. Such an idea is usually a myth promoted by those in control of resources, so how much insiders will benefit (a few or many), and how much will go outside? The jury is out whether modern China is a capitalist or socialist economy, with many suspecting it has moved in the former direction. Certainly China’s presence in African countries has shown more of the characteristics of a new colonialism leaving many suffering the blight of activities such as mining.
THis si just one snap shot, a report of today. Let’s see a bit more evidence.