Asserts the Zambian-born moderate-conservative economist and author of the best-selling book, Winner Take All: China's Race For Resources & What It Means For Us. From the Christian Science Monitor: "There are three key pillars of their strategy: First, they are
investing in what I call the Axis of the Unloved – underdeveloped
economies which have traditionally been overlooked by the Western
developed countries as investment destinations: Latin America, Africa, Eastern Europe. China is making deals with these regions that are hungry for investment and economic development."
More from Dr. Moyo: "Second,
they are making themselves the go-to buyer. China has over $3 trillion
in exchange reserves and has announced that it is open for business by
using the reserves to buy, sell, and lend actively in both developing
and developed countries. China is in a position to overpay, and has done
so. This is at a time when the Western world is suffering from credit
and deficit crises. Finally, China has become a monopsonist – the
key buyer of a particular commodity, such as copper and coal – which
means they can set the prices."
Dambisa Moyo: "China Is The Only Country With A Plan To Secure Scarce Global Resources"
