If you can’t beat ’em, join ’em?
Not long ago, FP editor-in-chief Moisés Naím looked at the phenomenon of "rogue aid" emanating from cash-rich countries like China, Venezuela, and Saudi Arabia. Their no-strings-attached assistance to the developing world, he argued, threatens to export undemocratic practices. Illiberal lending may foster a world that is "more corrupt, chaotic, and authoritarian." Now it appears the ...
Not long ago, FP editor-in-chief Moisés Naím looked at the phenomenon of "rogue aid" emanating from cash-rich countries like China, Venezuela, and Saudi Arabia. Their no-strings-attached assistance to the developing world, he argued, threatens to export undemocratic practices. Illiberal lending may foster a world that is "more corrupt, chaotic, and authoritarian." Now it appears the Bank is trying to make common cause with at least one of the lenders:
Not long ago, FP editor-in-chief Moisés Naím looked at the phenomenon of "rogue aid" emanating from cash-rich countries like China, Venezuela, and Saudi Arabia. Their no-strings-attached assistance to the developing world, he argued, threatens to export undemocratic practices. Illiberal lending may foster a world that is "more corrupt, chaotic, and authoritarian." Now it appears the Bank is trying to make common cause with at least one of the lenders:
The World Bank is planning joint projects in Africa with China's Export-Import Bank to address concerns that Beijing is taking more than it gives as it scours the continent for oil and minerals. World Bank President Robert Zoellick, wrapping up a four-day trip to China, said the pros and cons of the country's push into Africa had been an important topic during his talks with senior officials including Ex-Im Bank Governor Li Ruogu.
A worthwhile effort, no doubt, but as long as China remains ravenous for energy and raw materials it's hard to imagine that Beijing will stop cutting deals with African autocrats. Better Chinese aid practices may well depend on a slower Chinese economy.
David Bosco is a professor at Indiana University’s Hamilton Lugar School of Global and International Studies. He is the author of The Poseidon Project: The Struggle to Govern the World’s Oceans. Twitter: @multilateralist
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