Warning Africa was opening itself up to “a new form of imperialism”, Nigerian central bank governor Lamido Sanusi accused China, now the world’s No. 2 economy, of worsening Africa’s deindustrialization and underdevelopment.“China takes our primary goods and sells us manufactured ones. This was also the essence of colonialism,” Sanusi wrote in a March 11 opinion column in the Financial Times.“Africa must recognize that China – like the U.S., Russia, Britain, Brazil and the rest – is in Africa not for African interests but its own,” Sanusi added.
As countries like China build up their industrial capacity, they inherit all the headaches involved in managing global resource extraction networks that once fell to the US.Some in the commentariat want to see this as another proof of American decline. Far from it. This is excellent news all around for the United States. The BRICS take on more responsibilities as well as a greater stake in the preserving and protecting the liberal global economy; meanwhile we continue to enjoy the benefits of that system while spending less to maintain it. That frees us up to focus on modernizing our domestic economy for the post-industrial 21st century.The future looks bright for the Stars and the Stripes; instead of taking the flak ourselves we can sympathize with the struggles of poor countries everywhere against the imperialist domination of their unsympathetic BRIC overlords.[Image of Bricks Courtesy of Shutterstock]