CHINA BUYS AFRICA: CHECKBOOK DIPLOMACY?

When it comes down to "checkbook diplomacy", China is outdoing the United States...in Africa at least. China is buying Africa.

Recently, on Thursday, July 19, 2012, at the 5th Ministerial Conference of the annual Forum on China-Africa Cooperation in Beijing, China pledged $20 billion in credit over the next 3 years to African governments.

Further, failing to resist a dig at the West, China called for more "China-Africa coordination of international affairs" to defend against "bullying of richer powers".

In 2009 China similarly pledged $10 billion in credit over the 2009-2012 period, and since that time it has been Africa's largest trading partner.

What do you think?

[NBCNews wire services, July 19, 2012, "Checkbook Diplomacy? China pledges $20 billion in credit to Africa"; cpf.cleanprint.net/7-19-2012; BBC News-China, July 19, 2012, "China pledges $20 bn in credit for Africa at Summit"]