Noteworthy...

Dear Readers: I will be on the road much of this week, so I'm afraid my blogging will be limited to... well, to be perfectly honest, I doubt I will be blogging at all! I'll be back next week with more news, analysis, and quips about this crazy field of international relations. Until then, today's Noteworthy reads:

Taking Africa beyond Aid. Yet another review of Moyo's book, Dead Aid, and a loud call for the development of African financial markets. As interesting as the piece itself are the comments, which inevitably turn to discussion of the Chinese presence on the continent

How can struggling countries break out of poverty if they're trapped in systems of bad rules? Paul Romer suggests "charter cities" as a possible solution

Something stinks. Must be Scotland's deal with Libya...

Osei Kofi on Africa's lagging contemporary art scene (and what to do about it)

Hugo Restall has an interesting piece in today's WSJ on the threesome that is Latin America (any country will do, really), the U.S. and China. While I tend to disagree with much of his analysis, it is an interesting argument nevertheless

For those among you who believed that China's alleged withdrawal from the deal with the Congo signaled China's retreat from the continent.... I hate to say 'I told you so,' but I told you so: China was never intending to withdraw, it was merely revising its strategy

Have a great week everyone!

China extends $950 million loan to Zimbabwe

Well, the post title says it all. Not to be outdone by recent American and U.K. offers of foreign aid, China has today agreed to a huge loan for Zimbabwe. The figure is nearly double what Prime Minister Tsvangirai received on his visits to the US and Europe earlier this month, and is meant to help the country revive its economy.

China has also promised increased investments in Zimbabwe, with more companies moving in to set up shop. While the obvious concerns over propping up rogue regimes persist, few appear interested in articulating them. What's more, where before Western nations were lambasting China for its assistance to questionable regimes, they now appear to be following suit (to an extent, mind you). It would seem that China is perhaps reshaping the international aid architecture after all.

Aid for Zimbabwe?

First it was the U.S., with its pledge of $73 million, and today it's the U.K. seemingly following suit with an additional $8 million (£5m), bringing total U.K. aid to Zimbabwe to $98 million (£60m) for this year alone. Now don't get me wrong, I am very much a proponent of assisting countries in need, but I question whether Zimbabwe has reformed itself to such an extent as to warrant such sizable aid packages. Surely the power-sharing government is a step in the right direction, but in my view not enough to merit such generous aid flows. At least not yet.

Indeed, I find myself agreeing with the Guardian's Tom Porteous who aptly observes:

There is much talk of reform in Zimbabwe but, as yet, no concrete action. The process of political change may have started but it is not irreversible. As long as Mugabe's nexus of repression and corruption remains in place, no amount of development assistance will help solve Zimbabwe's huge economic problems. And any economic aid to Harare from the UK or other donors will help to feed the crocodiles, just as surely as the blood-soaked profits of the Marange diamond mines.

Working to strengthen UK-China relations, one summit at a time

Britain's Chancellor of the Exchequer, Alistair Darling, weighs in on the potential benefits to be reaped from strengthened UK-China relations as leaders from both countries meet today for the second UK-China Economic and Financial Dialogue in London: 

Every country has benefited from China’s integration into the world economy in the past decade. Since 2000, China has accounted for a third of global economic growth. Chinese goods are now exported all over the globe — making it the world’s second largest exporter. And this is not a zero-sum game. We all benefit; 60 per cent of Chinese exports are produced by enterprises financed by other countries.

But I believe Britain is uniquely placed to benefit. The UK is the largest European investor in China. Some 6,000 British-invested projects there span the country in a number of sectors: Vodafone in telecommunications, BP in energy, AstraZeneca for pharmaceuticals, HSBC and Standard Chartered in financial services, to name a few.

And the UK is the second top European destination for Chinese inward investment. Nearly 400 companies have set up in our country, and more than 60 are listed on our stock exchanges. They offer high-skilled jobs in engineering, telecoms and financial services.

... The meeting between our countries today is about seizing these opportunities. But we meet against the background of the greatest global financial crisis for generations. Every country has been affected. And every country is working to get through this. So our first goal must be to agree the action needed to support growth. Both our governments have put more money into the economy now, when it is needed. China’s huge fiscal stimulus will benefit us all.