Zambian economist Moyo admits China’s importance to Africa
World renowned Zambian-born economist, and former Barrick Gold Director Dambisa Moyo, has commended China’s economic bilateral relations with Africa, and said the emerging economy is important to her continent. “I am a big Sinophile because I recognize we need China’s investment and we need jobs and trade and we need something to happen,” China Daily quotes her as saying. “Americans are not prepared to write bigchecks to drive trade and job creation in Africa anymore,” she added.
According to report, Moyo made the statement after speaking at the 20th annual African Mining Indaba conference in Cape Town.
She praised China’s focus on trade, job creation and infrastructure development.
The 2009 Time 100 most influential person in the world, was shot to limelight by herNew York Times bestseller Dead Aid, where she criticized the West’s aid to Africa and shed light on its inefficiencies.
Moyo argued that Western aid had become like a drug to many African countries,giving them little incentive to develop industry since aid rather than tax was a more reliable source of government revenue,” China Daily reported.
Dambisa Moyo is a Zambian-born economist and author of Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa, How the West Was Lost: Fifty Years of Economic Folly – And the Stark Choices that Lie Ahead and Winner Take All: China’s Race for Resources and What It Means for the World.