adminBernard Bwoni Correspondent
“Whatever the headlines, regardless of the challenges, we shouldn’t be running away from China. And my message is clear: Through the ups and downs, let’s stick together. Let’s stick together to grow our economies. Let’s stick together to make Britain China’s best partner in the West.
“Let’s stick together and create a golden decade for both of our countries. Britain and China: we’ll stick together.”
This was British Chancellor George Osbourne speaking at the Shanghai Stock Exchange in China recently.
He described China as “a phenomenal part of the world economy” and he was absolutely right. Most countries throughout the world including, the EU and the USA, have adopted a Look East policy since the economic boom in China started. They have all dispatched several business delegations to China.
The thing about the West is that they understand money and hence why they have it. They respect money more than those in the developing world who do not have much money. The West will do what it takes to ensure that they get the business and bring in the money to maintain their high standards of life.
They know how to separate business from ideology and politics. Mr Osbourne said: “We raise human rights, but we do it in the context of also talking about issues like economic development. Of course we’re two completely different political systems and we raise human rights issues, but I don’t think that is inconsistent with also wanting to do more business with one-fifth of the world’s population.”
The West understands business and they follow it where it is and human rights are just words when it comes to business. They follow it in the mud, the desert, the Muslim backyards or any muddle you can imagine. Money is money even if it comes from the mud, you always clean it up and life goes on.
On the other hand, there are people in Zimbabwe and other African countries at each other’s throats over trivia while neglecting the things that bring money into their economies. While George Osbourne is busy molly-coddling the Chinese and looking East, some in Zimbabwe are dismissing the ruling party’s Look East policy as a gimmick.
This is what separates those who get ahead in this world and those who lag behind. With China pledging to cancel debts to developing countries, how can a Look East policy be a bad policy?
It is interesting that some are urging Government to look West when the West is looking East. That is a redundant argument and the reason why Africa always ends up having to play catch up. A more convincing argument would be to look everywhere because there is no point in looking to a West that is looking East. Zimbabwe can look East, West, North and South.
It does not matter as long as the benefit is going to be mutual. There is nothing wrong with being economically aggressive to get ahead in this world. Zimbabwe’s economy is on the verge of a major take-off and the only tone that should be coming from Harare should be “business coated” and economic savvy.
The Conservatives in Britain are Zimbabwe’s best hope of mutually beneficial engagement. The tone from Tories has remained largely positive and the reciprocity of delegations suggests a major shift towards full engagement. There have been a number business delegations from Zimbabwe to London and other EU capitals as part of moves to improve relations.
Osbourne discussed business with the Chinese and at no point did he focus on the alleged human rights abuses. The talk of human rights abuses does not bring money to Britain’s economy. There is a time and place to talk about human rights, for it is morally right to do so.
It is reassuring to note that in Zimbabwe Finance Minister Chinamasa has been talking the language of finance as per his ministry’s remit. The key to constructing business communication is to consider the audience, the purpose and type of information to be disseminated. There is a certain tone that can be uninviting to others and for sure some will sit on the fence instead of engaging fully.
The tone that the country uses can easily become a subject or target of international frustration if mismanaged or the bridge that business crosses over if well managed. The tone should aim at establishing and maintaining positive relationships with all business partners from the East to the West, the North to the South.
In some countries business tone is in fact incorporated in national culture. Zimbabwe is a hospitable country and all those who come into the country should get that sense. We may disagree on the politics, but we live off the business and as such business tone should be recognised as one of the country’s official languages. Money should transcend political divisions.
The Conservatives in Britain through Chancellor Osbourne are looking beyond the ideological and political differences with China and putting business ahead. Zimbabwe does have ideological and political differences with the West and there is nothing wrong with that for that is what makes each country unique.
However, these differences should not be allowed to be the obstacles in Zimbabwe’s quest to attract new business into the country. People are shaped by an ideology, but they do not “eat ideology” and Mr Osbourne is clearly aware of that hence his call to “make UK China’s best partner in the West”. The tone of business should cascade nationally from top to bottom. There is value and relevance in presenting the right business tone as opposed to what is perceived as an aggressive closed-door style.
All investors, domestic and foreign, need to be assured that Zimbabwe is open for business. Zimbabwe has the right policies in place, and they need to be communicated in a manner that reassures those who want to bring money into the country.
Policies can easily be misunderstood or misinterpreted and thus the need for clarity beyond reasonable doubt that Zimbabwe is ready to embrace business irrespective of country of origin. The ruling party knows that Zimbabwe is open for business and is clearly sending signals that the country is primed for investment. However, it is imperative to look at it from outside; the perception and how the country is viewed from the outside and address the misconceptions.
Zimbabwe, like most African countries, is rich in mineral and other natural resources. However, the country’s capital markets are quite restricted and currently have limited capacity to finance the development, the beneficiation and value addition of the country’s vast resource potential.
Foreign investment is essential particularly from the Chinese, the Russians, the EU, Africa, Asia, and the USA. There are potential national threats in some foreign investments and hence the need for Zimbabwe to be cautious and vigilant in protecting its national interests.
The challenges to attracting FDI are huge because many developing countries, emerging economies and even developed countries are seeking to attract the elusive FDI. This is where it becomes crucial how the country is perceived. Africa as a whole has to buckle up to be able to compete. The priority should be on improving the environment for investment, the functioning of capital markets and consistencies in business tone and clarity in communicating the terms of legal guarantees for people’s investments. It is one thing to direct them to the Indigenisation and Empowerment Act, and it is another to actually sit down and allay their fears. It is the right information presented with the right tone that will allay those fears.
Online Reporter