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By Ronald Ssekandi, Yuan Qing
KAMPALA, Jan. 11 (Xinhua) -- As China and Africa enjoy the fruits of globalization, the United States and Western Europe citizens are scoffing at the movement their governments once championed as a magic bullet to advance development.
BACKLASH IN DEVELOPED COUNTRIES
Donald Trump, who won the American election partly with the help of surging trade protectionism, will be inaugurated as president next week.
Months back, the British voted to exit the European Union (EU) over security concerns and the supposed or real threat that immigrants are taking over their jobs.
While China and Africa push for globalization to fast-track their development, the developed world complains that globalization over the years has had a backlash on their economies.
Back in the mid-1940's, the developed world through the World Bank and the International Monetary Fund pushed for globalization arguing that a greater global integration was more conducive to peace and prosperity in the world than isolationism.
They argued that through globalization, development even in the poor countries would be fast tracked.H When China opened its doors to the outside world in the late 1970s, it tasted the fruits of globalization as its economy grew fast to the current status as the second largest economy in the world after the United States.
After thirty years of successive economic development, China is moving out to the world, transferring huge amounts of capital to Africa and other parts of the world.
WIN-WIN COOPERATION
In Africa, Chinese capital has helped develop the transportation and energy infrastructure, which is key to the economic development on the continent.
In remote African villages, Chinese road engineers wearing hats made out of mats is a common scene. The Chinese are constructing road networks across Africa, a key factor in lowering transport cost and then the cost of products.
In East Africa, the Chinese are funding the construction of the Standard Gauge Railway that will link the hinter. Cheap Clippers Jerseys Cheap Boston Celtics Jerseys Cheap Cleveland Cavaliers Jerseys Cheap Chicago Bulls Jerseys Cheap Milwaukee Bucks Jerseys Cheap Oklahoma City Thunder Jerseys Wholesale Washington Wizards Jerseys Wholesale Golden State Warriors Jerseys Wholesale Phoenix Suns Jerseys Wholesale San Antonio Spurs Jerseys
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