China Eager To Partner With U.S. On International Development

"China has invited the U.S. to co-operate in financing and building infrastructure in Africa and other parts of the developing world, an unprecedented proposal that has potentially sweeping implications for the future of international development aid. Chinese officials first approached Washington last year to discuss working together on a $12 billion dam project in the Democratic Republic of Congo, U.S. officials said, but the talks gathered momentum at the annual China-U.S. summit in July in Beijing. The putative partnership is challenging: a bid for what could be the world's largest hydropower complex, in one of the world's least developed countries." Geoff Dyer in The Financial Times.

Is Africa's economic ascendancy for real this time? "Africa has stood on the verge of prosperity before only to see its opportunities fizzle. Yet never before has it stood to benefit as it does now....Analysts note hopefully that the current resurgence is built on foundations sturdier than the ups and downs of commodity prices. Many African nations have become more democratic, making it easier for entrepreneurs to do business, and have boosted investment in education and infrastructure. A decade of solid growth has created a middle class with more spending power....Armed conflicts are down....The improved environment has benefited even countries without bounteous natural resources." Paul Wiseman in the Associated Press.

GERSON: Bet on Africa rising. "While 'Africa needing' and 'Africa rising' are both true, they are not equally true. The trajectory of much of Africa is toward rapid economic growth, greater trade and direct foreign investment. And this requires a shift from a donor mentality to a model of business networking — which is a stated intention of the U.S.- Africa Leaders Summit. Give credit to the Obama administration for broadening the U.S. approach to Africa beyond humanitarian emergencies to sustainable investments in the drivers of economic growth: agriculture and energy....For all its needs — some pressing — Africa is rising. And the savvy will buy in early." Michael Gerson in The Washington Post.

MIHM: U.S. can end its losing streak in Africa. "'This is not charity; this is self-interest' is how President Barack Obama described the new approach. In other words, growth in Africa can generate growth in the U.S. The candor is refreshing. As the participants assemble, though, they should be mindful of the history of self-interested business dealings in Africa. While that history may be lost to Americans, Africans have a longer memory, and some sensitivity to past relationships may pay significant dividends for American business leaders operating now....There’s real potential for sustained economic growth that will benefit Africa and the U.S." Stephen Mihm in Bloomberg View.