Chinese VP snubs Zimbabwe again - Zimbabwe Situation

Chinese VP snubs Zimbabwe again

via Chinese VP snubs Zimbabwe again – DailyNews Live. 22 June 2014 by Lloyd Mbiba

HARARE – Chinese vice President Li Yuanchao spent less than an hour in Zimbabwe en route to Zambia for a four-day official visit, were he signed development loan and grant agreements worth $64 million.

Li Yuanchao spent less than an hour in Zimbabwe on Wednesday during a stopover at the Harare International Airport en-route to Zambia for the four-day State visit.

It was not a planned visit to Zimbabwe as Vice president Joice Mujuru had to meet her Chinese counterpart at the airport.

Li Yuanchao is said to have reiterated to Mujuru his country’s commitment to assist financially, the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZimAsset).

Zambia will use the funds to improve its water reticulation system in rural areas, upgrade the country’s only international airport in Lusaka and improve education facilities, among a raft of other projects.

From there on, Li Yuanchao will pay a visit to Tanzania to promote economic and trade partnerships.

While Zimbabwe refers to China as its all-weather friend the Asian giant has been busy investing in other African countries.

The recent snub on Zimbabwe has once again reignited the debate on whether the Chinese are indeed our all-weather friends.

China become a major player in the country’s economy through their State-owned enterprises like Anjin Investments — involved in a diamond mining venture in Chiadzwa — and Sino-Zimbabwe Holdings.

According to Global Witness’ report, Anjin has the most lucrative diamond concessions, given in exchange for the $98 million for the construction of the army’s National Defence College.

Prior to these projects, the Chinese were accused of opting for the retail businesses in foodstuffs, household goods and clothing which — apart from crowding out struggling indigenous entrepreneurs and crippling the clothing industry — did  not add much value to the country’s economy.

President Robert Mugabe, during his key-note address on Independence Day in April accused the Chinese of flooding the country with cheap labour.

A week later, Presidential Affairs minister Didymus Mutasa blasted China for failing to come on board and help the country revive its economy, adding Zimbabwe was on its own.

Chris Mugaga, economic analyst told the Daily News on Sunday this week that the Chinese are reluctant to come to Zimbabe because of political risk.

“They are avoiding us obviously because there is political risk in Zimbabwe. It is for this reason that they are going elsewhere with their investments,” Mugaga said.

While Maxwell Saungweme, a development analyst, said China was never Zimbabwe’s friend and instead, it is the southern African country that claimed to be in good books with the Asian tiger.

“The issue is the Chinese were never our friends and will never be. We are the ones who tried to befriend them but they don’t see much economic benefits for investing in good relations with Zimbabwe,” Saungweme said.

He added that Zimbabwe does not provide a favourable environment for investors.

“The truth is that in spite of mineral endowments and high literacy levels, we are not an attractive investor destination. The biggest risk investors shun Zimbabwe for is political risk that has been hovering over the country since 2000 when we embarked on land invasions,” he said.

 

COMMENTS

WORDPRESS: 12
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    The Chinese were originally going to fund ZIMASSET to the tune of USD 30 billion. Then all our troubles would have been behind us.I still think they will give us the money

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    zanupf fear me 5 years ago

    Must have been a great thrill being entertained at the airport by muroyi mujuru and the size 46d zanupf women’s league of bootlickers

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    Expected of them.I think the term friends with China was far fetched from the on-set.Acquaintances was a befitting one.Literally,we looked east after our sudden fallout with our erstwhile masters,the west.All this is the recipe of trying to make friends with people,and negotiate deals with them whilst they know you are down on your knees,with no negotiating bargain.

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    It’s taken the Chinese less time to realize BOB and the wailers are rubbish than stupid Zimbabweans who vote for the buffoon

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    Petal 5 years ago

    Must have been a lot of flag waving at the airport and ulilating

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    Panda moyo 5 years ago

    Sounds really desperate,yet again i know that what they are begging for is not for the masses but for the chosen few.

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    Justice 5 years ago

    They have their diamond mine contract so they don’t need anything else.

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    John Thomas 5 years ago

    Snubbing ZANU is a good thing.

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    Are we surprised? At least china decided to deal with its corruption. We are rotten the core and the corruption in ZPF stinks and is a stench in God’s nostrils. Be warned. repent before it is too late.

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    JOHNSON 5 years ago

    I THINK THE MESSAGE IS NOT CLEAR TO MOST. THE ECONOMY OF ZIMBABWE IS A RISK TO EVERYONE, THE CHINKS INCLUDED. BUT THE CHINESE ARE WELL KNOWN FOR SHIPPING IN ARMS.

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    Petal 5 years ago

    Probably had someone waiting at the airport with the diamonds and off he went as quick as a flash

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    Petal 5 years ago

    possibly most of us are aware that the Chinese are big distributors of arms in parts of the continent