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Yanis Varoufakis: Why China is Not Imperialist

Summary:
Click on CC for accurate English subtitles. Yanis Varoufakis in Cambridge, Mass., USA, May 2018. Excerpt: "When it comes to the influence of China outside its borders, I have to say, firstly, it’s quite remarkable that they don’t seem to have any military ambitions. Secondly, Africa. I’ll give you an example, a specific example: Ethiopia. In 2004, ... they went into Ethiopia because they suspected it had oil. China is a major industrial power, but it lacks primary resources. Now, instead of going into Africa with troops, colonially destroying the country, killing people like the West has done for the last hundred years, what they did was they went to Addis Ababa and they said to the government, “We can see you have problems with your infrastructure. We would like to build some new

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Click on CC for accurate English subtitles.

Yanis Varoufakis in Cambridge, Mass., USA, May 2018.

Excerpt: "When it comes to the influence of China outside its borders, I have to say, firstly, it’s quite remarkable that they don’t seem to have any military ambitions. Secondly, Africa. I’ll give you an example, a specific example: Ethiopia. In 2004, ... they went into Ethiopia because they suspected it had oil. China is a major industrial power, but it lacks primary resources. Now, instead of going into Africa with troops, colonially destroying the country, killing people like the West has done for the last hundred years, what they did was they went to Addis Ababa and they said to the government, “We can see you have problems with your infrastructure. We would like to build some new airports, upgrade your railway system, create a telephone system, and rebuild your roads, and we’ll do this all for free, no strings attached. We don’t want anything from you.” And they did this. Why did they do it? Because it’s soft power. Because they knew that if oil is discovered—and it was discovered later—then of course the Ethiopian government will be much more open to Chinese oil companies coming there. They have never combined their investment with imperialistic methods."

Complete lecture at this link (54 minutes): https://youtu.be/CIIgJq27HHA
Yanis Varoufakis
An accidental economist Let me begin with a confession: I am a Professor of Economics who has never really trained as an economist. But let’s take things one at a time.

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