China Eliminated Poverty With Science and Infrastructure. It Can Be Done in Africa Too!

China's Long March Out of Poverty | African Agenda – A new ...
Deng Xiaoping, who put China firmly on the path of “reform and opening up.

August 14, 2020

If one examines the long path from the end of China’s disastrous “cultural revolution” in the 1970s to China’s 2020 modern miracle of eliminating poverty for 800 million Chinese, many lessons can be learned. China’s commitment to science and building infrastructure were two essential ingredients for this accomplishment.  William Jones discusses this interesting history in his article below,”China’s Long March Out of Poverty”.

China Employs Hamilton’s Principles of Credit  for Railroads

(EIRNS) —China’s exciting announcement of its plan to increase the pace of development of maglev and its high-speed rail network, is based on its assurance that it knows how to implement that, and to finance it on top-down principles of the type proposed by Alexander Hamilton.

China announced its plans to build a system of 600 kph (373 mph) maglev vehicles, after it successfully conducted its maiden test run of a maglev vehicle at a test track at Tonji University in Shanghai on June 21. Though the train-set did not run at top speed of 600 kph, but at a lower speed, various important features were tested. Prototype vehicles are approved for construction in 2021, and up to nine new maglev lines, totalling over 1,000 km (600 miles), are planned for the future.

Equally impressive, China’s plan to double its existing 35,000 km of high-speed rail already in operation, to 70,000 km by 2035, shows how a Confucian/Hamiltonian economy actually works. Based on estimates by the Lange Steel Information Research Center in Beijing, reported by the Wall Street Journal, China would have spent $180 billion for 35 approved railway projects in 2019, most of them high-speed rail, launching the next phase of HSR development.

In the first half of 2020, according to the Aug. 13 *China Daily), China invested $207 billion in combined railway, highway, waterway and civil aviation infrastructure, of which $46.9 billion was in railways. China’s transportation infrastructure investment alone, is 5-10 times that of every country on Earth. Featured in China’s railway investment is a new, 1700 km high-speed rail system between Chengdu, Sichuan and Lhasa, Tibet; high-speed rail in landlocked Shaanxi Province, etc.

China finances the rail and other critical infrastructure, through two methods of directed credit: China’s four largest state-owned commercial banks—the Industrial & Commercial Bank of China, the Bank of China, the Agricultural Bank of China, and the China Construction Bank—make ample loans directly to the China Railway company, the China Railway Rolling Stock Corporation (CRRC), which builds the rail equipment, etc. This is overseen by China’s three “policy banks.”

Second, the national government and local governments purchase bonds issued by China Railway Corporation, CRRC, and so forth.

China has announced its new rail construction program. The government plans to build 200,000 km of rail by 2035, about 70,000 of which will be high-speed rail. All cities with a population of 200,000 or more will be connected by rail, and all cities with 500,000 people or more will be connected by high-speed rail. China is also working on the next generation maglev train that could travel at speeds of 600 kph.

Pause for a moment from your daily activity. Let your imagination look into the future, and ponder what the nations of Africa would look like if, all cities with 200,000 people or more were connected by railroads. The topology of the continent would be different. China has proved it can be done. It is not a matter of Africa following the China model. Rather, it is comprehending the scientific principles of Alexander Hamilton’s economic system. Read my earlier posts: Alexander Hamilton’s Credit System Is Necessary for Africa’s Development and Nations Must Study Alexander Hamilton’s Principles of Political Economy

 

Click to access 45-54_4726.pdf

In his article below, William Jones provide an insightful analysis of the forces behind the anti-China mantra, rampant in the Trump administration.

As the ‘Five Eyes’ gear up to confront China, can anyone say that the British Empire is a thing of the past?

“A recent article published in the China Economic Diplomacy Watch pointed to the “Five Eyes” – the U.S., UK, Australia, Canada and New Zealand – as the key rallying group for Pompeo’s call for a containment policy toward China. The article has indicated a crucial element in the danger the world is facing. The unifying factor in this grouping is, firstly, that the “Five Eyes” are all English-speaking countries, and secondly, that they all at one time or the other belonged to the British Empire.”

Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in the economic development policy of Africa for 30 years. He is the creator of the blog: lawrencefreemanafricaandtheworld.com

Save Lake Chad With Transaqua: Franklin Roosevelt and Kwame Nkrumah Would Concur

In 1943, after having flown over the Sahara Desert on his way to a Casablanca conference with Winston Churchill, President Franklin Roosevelt remarked to his son Elliott, that with the recreation of a lake in the depressed flats in North Africa, “The Sahara would bloom for hundreds of miles.” He also reminded his son of the rivers which arise in Atlas Mountains and disappear under the Desert. “Divert this water flow for irrigation purposes?  It’d make the Imperial Valley in California look like a cabbage patch!”

Later in the trip, FDR made Winston Churchill apoplectic by discussing plans for anti-imperialist development with the Sultan of Morocco, including mooting American aid in providing the resources to train indigenous scientists and engineers to develop the nation.

FDR’s American System vision for African development was not taken up in the post-war era, but his outlook was echoed by at least two prominent statesmen of the next generation from very different backgrounds—Kwame Nkrumah and President John F. Kennedy. It was no mere coincidence that twenty years later, when Ghanaian President Nkrumah addressed the Organization of African Unity, he would also speak about the “possibility for the Sahara to bloom.” Nkrumah’s vision also would be temporarily crushed.

But today, finally, FDR’s and Nkrumah’s dream is beginning to be realized. A giant step toward greening the desert, and defeating the miserable living conditions which go with it, was taken this February, when a meeting of several African heads of state decided to go ahead with a massive project of water engineering called Transaqua. Although proceeding without American government backing, this project is truly in the spirit of American System development, a long-term investment in transforming the physical environment for the benefit of the general welfare.

It is with that in mind that we present this report by an American who does understand the American System, and has worked persistently for several decades to bring its benefits to Africa.—Nancy Spannaus

The Abuja Conference

After two months, the deliberations from the “International Conference on Saving Lake Chad” held in Abuja, Nigeria from February 26-28, 2018 are still reverberating, and will continue to do so. This historic conference, the first of its kind to be convened on the African continent, was initiated and sponsored by the Nigerian government in conjunction with the Lake Chad Basin Commission (LCBC), and supported by the United Nations. It has already begun to change the thinking of what is possible for Africa’s future.

From across the globe, hundreds of water experts, hydrologists, scientists, political leaders, advocates for Lake Chad, the African Union, the Africa Development Bank, and the World Bank, joined the heads of state of the Lake Chad Basin nations for three days of deliberation on the best policy to recharge the contracting Lake Chad.

Having served as an advisor to the LCBC and participated in several discussions with the Nigerian government on the necessity for an inter-basin water transfer project to recharge Lake Chad, this author was given a prominent role throughout the entire proceeding, addressing the gathering several times in various capacities. (Written remarks by me were also circulated at the conference and to the press.)

Read entire the article: Save Lake Chad With Transaqua: Presidents Roosevelt and Nkrumah Would Concur