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Macros Economics on Two Articles - Admission/Application Essay Example

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Name Institution Course Instructor Date The two articles, “China and Oil-backed Loans in Angola: The Real Story” by Alec, Russell and Deborah, Brautigam’s “Human Rights Watch Report on Chinese-Owned Mines in Zambia” analyze the Chinese business interests in Africa through an in-depth scrutiny of their operations…
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Macros Economics on Two Articles
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Macros Economics on Two Articles

Download file to see previous pages... Economic issues raised in the articles With projects ranging from copper and other minerals exploitation in Zambia, oil drilling in Angola, agriculture and allied industry in South Africa and Ethiopia to infrastructure and real estate development in Kenya and Tanzania, China is currently the biggest foreign trading partner to Africa as a whole. Authors of the articles focus more on highlighting the unseen shortcomings of increased Chinese involvement and control of the African markets. The major cross cutting issue in all articles on this subject is the exploitation of African labor at far dilapidating conditions and poor wages. In advancing their viewpoint, the authors point to several cases including fatalities incurred by African workers especially in the mining sectors of Zambia and Angola. Further, the workers normally earn little in wages often having to work long hours under unfriendly conditions. Provision of safety and protective clothing is according to the author of the articles a struggle that takes months if not years. On the other hand, the Chinese gain a lot in terms of raw materials and finished products that they export back home, since their companies or jointly owned firms with the local governments win the contracts. The articles also point out several cases of corruption and malpractices that result to unfair competition favoring Chinese firms over the local firms as well as any other foreign companies. As pointed out in the case of oil exploration in Angola, Chinese companies mining oil obtain the resource at cheaper prices and then sell to their government and other buyers at the prevailing market prices. Other issues alluded to in the article include the quality of work that Chinese companies do. For instance, the author refers to a hospital block constructed in Luanda, Angola, which started exhibiting structural weaknesses within a short period after its completion by a Chinese company. There are also concerns over the social impacts and environmental degradation caused by the activities of the Chinese, which the article describes as wanting owing to lack of commitment to corporate social responsibilities. However, the articles deliberately ignores the positive side of the trade between China and Africa as observed by critics of the analysis presented in the articles who view the authors as majoring only on exaggeration of negative impacts. They point out that many local citizens as well as the policy makers at government levels view the entry of China in Africa as a reprieve from the wide spread unemployment and stalled economic development that the continent has undergone over the years of western aligned trade. There is also the view that African economies are exhibiting significant growth owing to increased funding of development projects and revival of industries curtsey of the Chinese. All these assertions are justifiable in individual respects using economic concepts to interrogate the whole issue. Discussion Analysis of the issue of China and African economic integration focuses on both micro economic and macroeconomic models and concepts. Microeconomic aspect of it focuses on the individual parts of the whole economy particularly on such items as individual economics, wages and ...Download file to see next pagesRead More
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