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The Asian Man’s Burden? China worried about prospects of Europe

According to the FT, China’s Investment Corporation is “very concerned” about threats of further instability in the Eurozone.

Considering also China’s big new role in aid to Africa, is it time to start wondering whether both World Bank and IMF should be moved to Beijing?

Not that I am willing to join the China-worship cult, but I DO love historical ironies that deflate pretensions of the White Man as Savior.

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6 Comments

  1. Jess wrote:

    You won’t love the ironies if Chinese nonsense imposes itself on our freedoms.

    Hard to think of a worse scenario than having China run the show – we’d all be begging back for the days when America ruled the roost.

    Posted May 28, 2010 at 10:19 am | Permalink
  2. J. wrote:

    I don’t know about a Chinese financial/cultural takeover in Europe… But the emergence of China (and a few of it’s regional neighbors) as a force to be reckoned with in the aid world is basically upon us now. From Sudan to Haiti, China is now asserting itself in different ways in the humanitarian sector.

    Good or bad? Hard to say. Probably a bit of both. Either way the sea is changing.

    Posted May 28, 2010 at 11:04 am | Permalink
  3. Helena wrote:

    Historical ironies? Has China historically relied on (“white man’s) foreign aid for its survival? How far back do we go?

    Posted May 28, 2010 at 11:36 am | Permalink
  4. Joseph wrote:

    I’d love a post that actually details the “Positives” of making China part of the World Financial Order.
    It’ll be provocative. Aidwatch is provocative. Sounds like a match.!

    Posted May 28, 2010 at 1:19 pm | Permalink
  5. Robert Tulip wrote:

    Deng Xiaoping’s saying ‘to get rich is glorious’ has done more than anything else to achieve the Millennium Development Goals. The single best ever aid project in history was Singapore’s technical assistance to shift Guangzhao from the iron rice bowl to a market economy, described by Lee Kuan Yew in his memoirs. By comparison, much western aid theory is still behind the iron curtain.

    Posted May 28, 2010 at 9:43 pm | Permalink
  6. Haruka Tanabe wrote:

    Well living in Africa and having seen the work of China here, I’m not really fond of the idea of China taking the lead in aid to Africa, or elsewhere. If it provides aid in close cooperation with other aid donors, maybe. But China seems to do whatever they pleases whereever they see profits.

    Posted May 31, 2010 at 12:07 pm | Permalink

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    The Aid Watch blog is a project of New York University's Development Research Institute (DRI). This blog is principally written by William Easterly, author of "The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics" and "The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good," and Professor of Economics at NYU. It is co-written by Laura Freschi and by occasional guest bloggers. Our work is based on the idea that more aid will reach the poor the more people are watching aid.

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