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The Conditions We Need as We Face East

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Submitted By Karenknd
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The conditions we need as we face East
Whether we call it looking East instead of West, it was good news that the Chinese Premier came calling, and choose Kenya as his key launching pad to the rest of East Africa. We have our emerging economy to thank for this because as some saying goes “a shilling can only be attracted by another shilling”. The Chinese have seen potential for business in our country and they want a share of this business.
And when it comes to sovereign partnerships, China is possibly the cream of the best. The most populous country on earth with a population that is thirty times that of Kenya, at 1.4 billion, China has recorded an annual growth of over 9% since 1978, moving from a low-income country to a middle-income country in a span of three decades. The rapid economic development has come on the back of key institutional reforms and high quality human capital as drivers. There is a lot to learn from the China, on its transition to occupy the position of the second largest economy and possibly the future world superpower.
The premier was on a business tour to promote business for Chinese Companies, for the interest of the Peoples Republic of China. He came with good news for Kenya and Africa at large, that funding from China will come devoid of any crippling conditions!
Of course this is refers to “conditions” other than loan conditions such as the amount must be paid back with interest. For all purposes, the interest rates appeared to be more commercial than concessional. And of course they will not look too closely whether or not the amounts are spent on the specific projects promised, so long as the loans are fully repaid! They know where the shoe pinches most, and they are ready to offer us relieve, at a cost. What they forgot to add is that really at the end of the day, it’s our business and for our interest, that the loans are

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