Well said, Victor. The problem is primarily greed.
On 05/13/10, victor narwortey <[log in to unmask]> wrote:
> You both right. We all want investments in Africa, the question is what kind and type of investment do we want. I'm the kind that believe in personal responsibility, so before we point the accusing fingers at the Chinese, lets take a critical and somber look at ourselves. What is it about we African that we are easily fooled and cajoled by outside powers? it used to be slavery and colonialism, now its China mortgaging Africa. I diagnose our problem to two basic symptoms (1) The economic terrorist (African leaders) masquerading as presidents and heads of state and the dishonest intellectuals crisscrossing classrooms and boardrooms with no nuts to speak out without fear or favor like Prof Ayittey. Trust the Ivy League African intellectual to twist a
> universally adopted economic theory that will benefit his people for a government that holds the constitution in one hand and an AK47 in the other. And oh ! least i for got, concealed in his pocket is his code numbers to his secret Swiss bank account.
>
> It is sad it has to come to this. After Slavery and Colonialism, a new generation of African leaders are doing the reverse by going to the Chinese with a cup in hand and say "Please come colonize us, its your turn, and change my last name to Chang"
>
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> From: Vera Crowell <[log in to unmask]>
> To: [log in to unmask]
> Sent: Wed, May 12, 2010 10:14:01 AM
> Subject: Re: Tread cautiously with China – Prof. Ayittey
>
> Yep. Never said they were perfect. Find me an organization that is. What they are is global. Are there any wind farms in Africa? Is there any sun? Do you think a wind farm somewhere wouldn't jump at the chance to sell enough wind power to Walmart to operate 348 stores? No, probably not.
>
> Last year's revenue from Walmart de Mexico SA was $5.9 billion, $336 million profit. Walmart owns ~31%...who do you think owns the rest? No, you're right. No one, no country, no company in Africa can use that remaining $232 million in profit. They don't need it.
>
> I don't see anyone
> else lining up...
>
> Yay, South Africa!
>
> http://allafrica.com/stories/201004120691.html (http://allafrica.com/stories/201004120691.html)
>
> South Africa: Scouting Wal-Mart Could End Up in SA
>
> Michael Bleby
>
> 12 April 2010
>
> Johannesburg — IT CAN only be a matter of time before Wal-Mart lands on these shores. Sooner or later the world's largest retailer will extend its reach to Africa.
>
> It makes sense. The company that in the year to January posted revenue of 408,2bn and net profit of 14,2bn needs to grow. With the post-recession US consumer still in intensive care, Wal-Mart, with operations in 15 overseas territories already, will expand further outwards.
>
> SA would be a handy base for expansion into the growing, if fragmented, African market, especially if Wal-Mart bought an existing player for an automatic regional footprint.
>
> ***********************
>
> http://walmartstores.com/pressroom/news/9846.aspx (http://walmartstores.com/pressroom/news/9846.aspx)
>
> Walmart de México y Centroamérica to use wind power to operate 348 stores
>
> Reduces roughly 137,000 metric tons of greenhouse gas annually – the equivalent of taking 21,000 cars off the road.
>
> Mexico City, May 6, 2010 - Walmart de México y Centroamérica announced that starting today 348 of its self-service stores, pricing clubs, and restaurants in Mexico City, State of Mexico, and Morelos, will use wind-powered energy* from “Oaxaca I Lamatalaventosa Wind Farm”, located in Oaxaca.
>
> *********************************
>
>
> http://www.bloggingstocks.com/2010/04/16/wal-mart-de-mexico-sees-19-spike-in-q1-profit/ (http://www.bloggingstocks.com/2010/04/16/wal-mart-de-mexico-sees-19-spike-in-q1-profit/)
>
> Wal-Mart de Mexico Sees 19% Spike in Q1 Profit
>
> Posted Apr
> 16th 2010 5:30PM by Brian WhiteBrian White RSS Feed
> Filed under: Earnings Reports, Wal-Mart (WMT)
> EmailMore
>
> Walmart WMT logoWal-Mart Stores, Inc. (WMT) continues banking on its international operations. The company's largest Latin American operation -- Wal-Mart de Mexico SA -- just saw its first-quarter profit increase 19% from the year-ago quarter due to 20 new stores and increased sales. The exact profit: $336 million. The exact revenue: $5.9 billion.
>
> http://www.treehugger.com/files/2009/01/wal-mart-mexico-solar.php (http://www.treehugger.com/files/2009/01/wal-mart-mexico-solar.php)
>
> Wal Mart Mexico's Solar Array Signals Longer Term Goals
> Lloyd said it before – it’s getting harder to hate Wal Mart. Yes, they are a gigantic retail monolith selling an awful lot of stuff. But of all the gigantic retail monoliths that sell an awful lot of stuff, Wal Mart are also pushing an incredible amount of
> important initiatives. From 360 wind powered stores to pushing 100 million compact fluorescent bulbs or promoting locally grown, organic products, Wal Mart are making moves that few would have predicted even a few short years ago. Now Wal Mart Mexico is getting in on the act, launching a 174kw solar array on top of Bodega Aurrera Aguascalientes, one of its stores.
>
>
>
> On 05/12/10, John Stafford Anderson <[log in to unmask] (javascript:main.compose()> wrote:
>
> > Yeah, look at what Walmart has done for Mexico. If you cannot prohibit the exploiter himself (China), then bring just bring the overseer (Walmart). If you find a product in Walmart not made in China, well, it's just impossible to find a product in Walmart not made in China. They can bring cheap Chinese landfill and totally wipe out "African" manufacturers and retailers, just as they do in
> Mexico. Imagine a legitimate source for selling fake Ghanian textiles. No need to run from the police for selling Chinese knock offs in the market, when you can sell it for pennies at Walmart.
> >
> > Not only that, "Africans" will be able to pay between 59% and 75% interest when they use their Walmart charge cards, just as Mexicans do in Mexico. They could also hire students and re-classify them as bagging "volunteers" who only work for tips, instead of salaried workers, just like they do in Mexico. Then the governments could waste resources in massive antitrust investigations, just like they are doing in Mexico. Then they could pay their employees in Africa with Walmart cards, just like they did in Mexico. They could fire/refuse to hire pregnant women, just like they do in Mexico. The list grows on...
> >
> > John
> >
> > On May 11, 2010, at 9:35 AM, Vera Crowell
> wrote:
> >
> > > ********************************************************
> > >
> > >
> > >
> > > ********************************************************
> > >
> > > Finally. Africa needs to get China out of there, pronto. Africa does not need help building roads, railways or opening businesses. Is there anything that Africans can not do; is there a resource that Africa does not have? And yes, I am putting all the nations together because in the end, you only have each other, those in the diaspora, and African-Americans (yes, we really do care).
> > >
> > > What Africa should do, and most of you will not agree with this, is to create a partnership with an entity who will not only not exploit Africa, but will help improve the economic outlook.
> > >
> > > Yep. You know who I'm talking about...Walmart. Look at what WM has done for Mexico. WM has had to help China
> build roads to create an infrastructure that will support their distribution network.
> > >
> > > Also, WM uses workers from the country they are in...they do not import thousands of workers. They create ties to the communities and the local economies and because they use local suppliers whenever possible, they increase sales and services in other industries. Their management training programs help people with social mobility.
> > >
> > > Somebody needs to pitch this to them & see if they bite.
> > >
> > > On 05/10/10, victor narwortey <[log in to unmask] (javascript:main.compose()> wrote:
> > >
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> > >> Professor George Ayittey, a lecturer in economics and researcher on African issues has raised thought provoking issues on China for the critical consideration by the Ghanaian government in its dealings with the Asian giant.
> > >>
> > >> He said the nation must be extremely cautious about the Chinese forays into Africa and that government must not be bamboozled into operating the fallacious notion many African governments have held that "the enemy of my enemy must be my friend".
> > >>
> > >> "In the past, Africa was exploited by the West; colonised and enslaved by the West. Because the West is an enemy of China, Africa is embracing China whole heartedly as if the enemy of my enemy must be my friend.
> >
> >>
> > >> "We should learn from history and remember that every foreign entity that comes to Africa comes
> > >> here to pursue its own interests. The Americans, the British, the Russians, the Arabs - all come here to pursue their own interests. The Chinese don't come to Africa because they love Black people; they come here to pursue their own interests," he stressed.
> > >>
> > >> Prof. Ayittey was speaking on the last edition of the quintessential profile TV show 'Time with David' run on TV3, a local TV Station.
> > >>
> > >> He said Chinese investments in Africa should be welcome, but when they come they must play by the rules; "everybody must play by the same rules," he emphasised.
> > >>
> > >> He described as unfortunate the Chinese access to Ghana's retail business, gold buying and selling business, and small-scale mining (galamsey) sector. Besides, when
> they win a contract they do not hire many locals but bring the bulk of their
> > >> workforce from China; all in violation of the laws that govern the conduct of business in the country.
> > >>
> > >> Prof. Ayittey therefore took a swipe at the law enforcement agencies for failing in their role appallingly.
> > >>
> > >> He revealed an emerging secret Chinese plan, called the ‘Chong-Ching experiment’ in which they want to resettle up to 12 million Chinese people right here in Africa.
> > >>
> > >> "They want land in Africa to re-settle their surplus population… I describe it as 'chop-stick mercantilism'; they are not being; straight forward with Africans," he noted.
> > >>
> > >> Prof Ayittey warned of Chinese investments that are being secured under barter terms, because they appear to be playing to the advantage of the Chinese.
> > >>
>
> > >> Examples are Ghana's US$622 million Bui Dam, a hydro-electric project to
> > >> generate 400 megawatts of power for which the Chinese are providing funds and Ghana is paying part in Cocoa.
> > >>
> > >> Another is Nigeria, where China wants to repair the country's dilapidated railway system in exchange for eight oil blocs.
> > >>
> > >> "A barter deal with China - in which China sets the rules - has a huge potential for graft and corruption. Everybody should be able to see it and say exactly how much Africa is getting from the deal. We should ensure that African workers are used," Prof. Ayittey pointed out.
> > >>
> > >> He took a loaded swipe at African leadership for its awful corruption which he blamed in most part for the plight the continent finds itself in.
> > >>
> > >> He indicated that if only the continent's resources were well
> and honestly managed, Africa would not need the aid resources it has received.
> > >>
> > >> "The African Union says that corruption alone costs Africa US$148 billion each year. This compares with the US$30 billion foreign aid
> > >> that comes to Africa from all sources.
> > >>
> > >> "This only means that Africa's begging bowl leaks very horribly; I mean you put US$30 billion into Africa and US$148 billion leaks away. Now that should tell you Africa does not need aid," Prof. Ayittey said.
> > >>
> > >> He urged the Ghanaian government not to allow the expected revenues from the oil and gas production to drain through the "black-hole," as in the case of Nigeria - where between 1970 and 2004 an estimated US$450 billion oil revenue, comprising taxes, royalties and profits flowed into the Nigerian government coffers but US$412 billion of these were stolen by Nigerian military
> rulers.
> > >>
> > >>
> > >> Source: B&FT
> > >>
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> > >>
> > >> Send to a Friend (http://news.myjoyonline.com/tools/email/emailnews.asp?contentid=45939 (http://news.myjoyonline.com/tools/email/emailnews.asp?contentid=45939)) (http://news.myjoyonline.com/tools/email/emailnews.asp?contentid=45939 (http://news.myjoyonline.com/tools/email/emailnews.asp?contentid=45939)))
> > >> Printer Friendly Page (http://news.myjoyonline.com/tools/print/printnews.asp?contentid=45939 (http://news.myjoyonline.com/tools/print/printnews.asp?contentid=45939)) (http://news.myjoyonline.com/tools/print/printnews.asp?contentid=45939 (http://news.myjoyonline.com/tools/print/printnews.asp?contentid=45939)))
> > >>
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> > >> *** Send email to the list: [log in to unmask] (javascript:main.compose() <[log in to unmask] (javascript:main.compose()> ***
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> > > --
> > > ******************************
> > > ~ 49.5 million US abortions since 1973; ~ 18 million Black babies aborted since 1973; ~ 5.6 million abortions in Africa between 1995-2003; ~ 12 million Africans sold into slavery between 15th - 19th centuries; ~ 2 million Africans died during Middle Passage (number uncertain).
> > >
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> >
> >
> --
> ******************************
> ~ 49.5 million US abortions since 1973; ~ 18 million Black babies aborted since 1973; ~ 5.6 million abortions in Africa between 1995-2003; ~ 12 million Africans sold into slavery between 15th - 19th centuries; ~ 2 million Africans died during Middle Passage (number uncertain).
>
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--
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~ 49.5 million US abortions since 1973; ~ 18 million Black babies aborted since 1973; ~ 5.6 million abortions in Africa between 1995-2003; ~ 12 million Africans sold into slavery between 15th - 19th centuries; ~ 2 million Africans died during Middle Passage (number uncertain).
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