But you are right Africa needs to learn how to do business with rest of the world while protecting its interests.

I’m no fan of aid, but there’s a lot of holes in your argument to show that you don’t understand the wider dynamics of economics and the cultures of both China and Africa.

My argument would go something like this (in a nutshell):
The politics of the west and other nations playing with the nations in Africa over past years to jockey for position has left the African nations feeling like a school boy being bullied by two competing bullies. (we’re talking about gov’t aid, not free hand out development & emergency aid) It’s sad, but the reality of the past. Today’s aid requires nothing of it’s gov’t or people. China comes in and works with the big dogs (no doubt handing out bribes) and takes Africa’s resources in return for (kickbacks and bribes) a long nice road and other development. They can do this b/c they have a ton of cash on hand. But in the long run, Africa’s resources will pay zero dividends. No long-term growth or development will be realized. All the while, the already rich politicians in Africa get richer.

You raise some valid points but you are forgetting some factors that could limit your arguments accuracy.

Firstly China is using its Dollar reserves to buy minerals,oil,land and other assets all over the Globe.

In this way its transfering its Dollar problem to other developing nations in exchange for a better reputation as a better development patner then the western nations and their disastrous AID packages.

This is creating growth world wide and new smaller but nevertheless growing markets for its products like pirated softwares,DVDs and clothes.

In effect its using its own dollar reserves to undermine the American economy in the long run while developing other tertiary markets.

China also has a growing middle class and excess labourers numbering 50 million who will always be out of a job and will therefore maintain wages at lower rates then the world maintaining its competitive advantage.

Chinas soft diplomacy is winning it a strong position globally and any bubble will serve only to sink the American economy while China having developed South east Asia, south America and Africa will have reliable young markets..