About 'accounting standards council'|..., those dubious accounts practice by cardiff county councils rent revenue account complaints. Those BBC aiding n abetting...
Everywhere, the evidence is clear: the sleeping dragon that is China has awoken. With one of the fastest-growing economies in the world, and its huge population, China is quickly becoming an economic superpower, and consequently, its attitude regarding trade in places like Africa is changing drastically. Also, in regards to the West, Chinese trade relationships with African nations is wholly different, and largely due to their new approach, China is quickly becoming the preferred trade partner in Africa as it quests for resources to continue fueling its supercharged economic growth. Yet, is this relationship good for Africa? The clear answer is no: China's profound penetration of the African economy is not good for the continent in a number of ways, among them China's indiscriminate support of countries with highly questionable human rights records, the difficulty African trades people have in competing with cheap Chinese goods, and the working conditions of companies operating in Africa have backtracked under Chinese oversight. As well, Chinese lending practices have been a source of malcontent among its chief competitors. In a continent that has been raped and pillaged, first, of its people, and later, of its natural resources throughout the last several hundred years, one cannot afford not to be cautious. However, many African countries find the prospect of Chinese trade partnership difficult to resist. In 2005, Chinese trade with Africa increased 33% to nearly $40 billion dollars. Unlike its Western trading partners, the Chinese offer generous trade packages that include badly needed investments in African infrastructure like roads and railways. Yet, Chinese partnerships with countries like Sudan, which the United States and the European Union say sanctions genocide, has been highly controversial to say the least. In little more than ten years, China has become by far Sudan's biggest customer of Sudan's oil exports, accounting for two thirds. China is also "the pariah state's major arms supplier and investor" (Lynch 08b). China's state-owned oil companies have also proposed a 900-mile pipeline from Sudan to the Red Sea, and have sent 10,000 Chinese workers to do the job (Macartney 38). Chinese trade with Sudan has been a major obstacle in efforts to punish the Sudanese government for its failure to rein in its militias, who terrorize the countryside. China has used its leverage as a permanent member of the UN Security Council to resist sanctioning the Sudanese government for its actions. China has also pressured its economic partners to support China against the Taiwanese by not recognizing Taiwan's government, and counts on African support when the West criticizes Chinese human rights violations (Lynch 08b). Paul Wolfowitz, President of the World Bank, has been highly critical of Chinese banks, who are lending to African countries that have just begun to emerge from crippling debt. This has undermined World Bank efforts to relieve the strain of debt on the African continent. "There is a real risk of seeing countries that have benefited from debt relief become heavily indebted once more," says Wolfowitz (Calick 10). As well, the Chinese largely ignore "a set of social and environmental standards endorsed by 80% of the world's commercial banks." Chu Sulong, a foreign policy expert at Beijing's Tsinghua University, sums it up: "The World Bank has its own ideology under Wolfowitz's leadership of emphasizing human rights and democracy. China does not have these conditions." Todd Moss, Senior Fellow at the Center of Global Development in Washington purports, "China is taking a realpolitik point of view, trying to secure natural resources to continue fueling its high rates of economic growth. ... For Africa, it's a mixed bag" (Lynch 08b). Largely, China seeks raw materials and resources like oil from Africa to support its high rates of economic growth. However, trade deals have also led to an influx of cheap Chinese goods into the continent. Many countries in Africa find it difficult to price its goods competitively with low-priced Chinese goods. As well, many have been criticizing working conditions at Chinese companies operating in Africa. In the summer of 2006, "Zambian workers at a Chinese-owned mine rioted over arduous working conditions." In the process, police became involved, and five were shot and wounded in efforts to quell the unrest. Political efforts to oust Chinese traders from the country have been unsuccessful, as the opposition party's presidential nominee Michael Sata lost the September election of that same year (Lynch 08b). All sorts of Chinese are looking to get in on the African market, and without question, some African countries are benefiting. In China, African oil powers its factories, and the Chinese people enjoy Zimbabwean tobacco. Africa returns the favor in energy, and raw materials such as aluminum and platinum (Macartney 38). But will Africa continue to benefit, or will the trade balance eventually spiral out of control in China's favor? Already, African merchants find it difficult to match the prices of imported Chinese goods. China also ignores genocide in Sudan in return for energy when it could be the difference maker in the UN, and hold the Sudan accountable by conditioning its continued relationship with efforts to end the violence in the region. China unabashedly loans money to countries that may not be able to afford to repay, and China lacks the preconditions of other trade partners such as the EU and the US in that it is not concerned with human rights or the level of democratic inclusion in the country. Already, Africa and China are incontrovertibly tied together. Again, many decades after the end of colonialism, a new power has penetrated the continent in search of resources. Will this relationship ultimately help or hurt an Africa burdened by corruption, a lack of transparent government, disease and financial debt? Or will China, through its sheer economic might, become the new masters of Africa's ultimate fate? Only time will tell. Bibliography Calick, Rowan. "Wolfowitz holds Beijing to account over Africa." The Australian 25 October 2006: 10. Lynch, David J. "China elevates its economic profile in Africa." US Today 3 November 2006: 08b. Macartney, Jane. "Continent is conquered again." The Times (United Kingdom) 25 August 2005: 38. |
Image of accounting standards council
accounting standards council Image 1
accounting standards council Image 2
accounting standards council Image 3
accounting standards council Image 4
accounting standards council Image 5
Related blog with accounting standards council
- drbkrishnamurthy.wordpress.com/...INTRODUCTION: Cost Accounting Standards (CAS) from...by the Council of the...OF COST ACCOUNTING STANDARDS : The Council of the...
- accountinghistory.blogspot.com/...organization for Canada.” In addition, the CICA established the Accounting Standards Oversight Council (AcSOC) to support the setting of accounting standards...
- lnlcrazydave.blogspot.com/..., those dubious accounts practice by cardiff county councils rent revenue account complaints. Those BBC aiding n abetting...
- financialexecutives.blogspot.com/... Private Co Standards Improvement Council To Modify GAAP For Private Co...to Simplify US Private Company Accounts by Helen Thomas in the Financial...
- billbarc.squarespace.com/...forward in the transparency standard of accounts reporting during the previous Council, and the current Council...the absence from the accounts of the usual sundry...
- secretactivistbigbrother.blogspot.com/...and face scanned as standard. Do you mind if your internet...super data base open to many council, government, police and intelligence...please email me your bank account details, N.I. ...
- talesofthenewworld.blogspot.com/... persisted; indeed, with Matthew Grant, it prompted a remarkable standard in the keeping of public records. Imbued as they were...
- belmontclub.blogspot.com/...member states and between civilian and military." Which of course, means NATO standard. This a serious (the report was presented to EU High Representative for Common...
- ibloga.blogspot.com/...There is increasing doubt over the credibility of the official American account of the assassination of Al-Qaeda commander Sheikh Osama bin Laden... As of this writing...
- carmeloruiz.blogspot.com/...firm advised the Bahamas to lobby the White House, Congress and the National Security Council and to try to get the military and State Department to influence the DEA and Treasury ...
Accounting Standards Council - Blog Homepage Results
...Name Website You are commenting using your WordPress.com account. ( Log Out / Change ) You are commenting using your Twitter...
... say it fails to account for the sometimes less-than-rational aspects...Technology Policy, and Co-Chair of the President’s Council of Advisers on Science and Technology...
Related Video with accounting standards council
accounting standards council Video 1
accounting standards council Video 2
accounting standards council Video 3
0 개의 댓글:
댓글 쓰기