US businessmen and politicians could learn from China, who learned from Japan. Instead of debt-ridden countries giving money away as the US does, America could be earning profits.
I read a fascinating piece in the Global Post by Stephanie Hanson that shows us China has elevated the art of barter to Ferengi levels. If you don’t know what I’m talking about, that’s okay. I’ve been watching Star Trek, Deep Space 9, and the Ferengi are an alien race who has turned the art of business into a science with a rule book.
While the US gives hundreds of billions of dollars to poor countries as aid, China trades or barters loans with African nations and in return China builds that country’s infrastructure. To understand, Hanson recommends reading “The Dragon’s Gift: The Real Story of China in Africa“.
Hanson writes, “In the 1970s, Japan extended aid to China that helped the country build transportation and energy infrastructure. This aid was repaid in barrels of Chinese oil. Now, across the African continent, China is extending concessional loans to African governments for roads, power plants, factories and hydro projects, in many cases using the same kind of financing arrangements it learned about from Japan.”
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