When the U.S. commercialized the oil and gas industry it also fought to ensure that its position as the leading provider of oil and gas remained unfettered. During the industrial revolution Standard Oil Company, a U.S. based oil and gas conglomerate, initially operated as a Trust Company and later as a Holding Company. It was […]
China and the U.S. are among some of the countries vying to secure a stake in Africa’s natural resources, but each of those States are employing very different methods to achieve its goal. China has a See No Evil Still See No Evil Policy regarding corruption in African States and conditions its aid assistance on a quid pro quo basis. In exchange for favorable terms regarding Aid, Greenfield Investments and trade deals coupled with the sale/extraction of natural resources, China gives African State unrestricted monies to use or do with it as it sees fit.
This summer, China spearheaded an agreement with Brazil, Russia, India and South Africa (known collectively as the “BRICS” countries) to create financial mechanisms that would challenge the International Monetary Fund (IMF) and as CNN’s Commentor Fareed Zakaria said no “these are worrying signs . . . because Beijing’s efforts will surely succeed. http://wapo.st/1EI46jP. As I mentioned, […]