Dambisa Moyo is an international economist who writes on the macroeconomy and global affairs and has recently published the book “Winner Take All: China’s Race for Resources and What It Means for the World”. I had the privilege to listen to Dambisa Moyo talk at the Tutor2u conference in June this year.
So, how is China’s approach to securing resources different from its western counterparts:
1. China has befriended countries that are in the axis of the unloved. These countries have largely been ignored by major western economies includes countries in Africa, South America and Eastern Europe. A number of these countries have natural resources.
2. They have spent huge amounts of money on securing these resources and to some people they are paying too high a price.
3. They are a price setter for many resources like coal and copper. It is the main buyer so is able to influence the price it pays for natural resources.
Below is an interview with CNN.