Any unwanted economic indicators trying to reach Australian shores will be locked up on a small island and never spoken about again, the new Treasurer has revealed. Understandably many Africans are less than enamoured with China’s economic manouevres on the continent, but it is the vocalism of the West that resonates, as well as bemuses. Allegations from these quarters rest on the very presence of China in Africa being imperialistic, paternalistic and exploitative. Whilst this has been discussed here and acknowledgement made of the conflicting economic effects China has on the continent, the Chinese would say that unlike the West, they haven’t pursued a win-lose strategy with Africa.
International trade and development for the region are paramount and a genuine dilemma exists on how this can be achieved without African nations yet again ceding economic and political control to its investors. The Real-time Economic Calendar only provides general information and it is not meant to be a trading guide. The Real-time Economic Calendar may also be subject to change without any previous notice.
The deployment of US troops in 35 African countries (Associated Press, 25 December 2012), starting at the beginning of this year with Algeria, Libya, Niger and Sudan represents a new agenda on the part of the US and emphasises its increasing economic rivalry with China. The African Union’s role in the fortcoming battle between the two economic goliaths over its resources is symbolic of David’s.
Capitalism as an economic system developed in Europe around the 16th century when feudalism collapsed. This makes Capitalism the eldest between the three economic systems (Capitalism, Communism, and Socialism). It was Henri de Saint-Simon who first wrote about and introduced the idea of Socialism as an economic theory. After the Russian Revolution, Socialism became a working economic system in the twentieth century by the Union of Soviet Socialist Republics (USSR). Communism is an economic system without any form of political system (no government).
China purported to have a communist form of economy, but the truth is, China had a political system therefore it implemented Socialism. Books were written about Capitalism after it had already become an established working economic system. Capitalism and Socialism are economic systems that are sustainable with any form or type of government and political system.