CHINA'S LOPSIDED TRADE WITH NIGERIA -THE SMOKE SCREEN IS LIFTED
When we did a write up on Nigeria -China Trade on 6th September, 2018 which China Commercial Consular, Mr Honliang Gao said in Lagos was $7.2 billion for the first 6 months of January to June, 2018, we asked some pertinent questions about how much of the $7.2 billion trade volume was in favour of Nigeria and how much was against it. https://m.facebook.com/story.php?story_fbid=1392135497584908&id=440791022719365
We also queried what was "sustainable" and what was "mutually beneficiary relationship" between Nigeria and China since China was exporting fake, adulterated goods and cheating in all its trade and business relationship with Nigeria that gives China Trade surpluses against Nigeria.
The above not withstanding, in that write up, we called on the Federal Bureau of Statistics to publish the actual Trade figures between Nigeria and China to enable us know who these Chinese are. We did caution that Mr Gao should not hoodwink us with his dissembled speech of "sustainable" trade relationship.
But it is amazing that the figure Mr Honliang Gao gave us, as the total trade volume between Nigeria and China for 6 months – January to June 2018, is no where near the total trade volume which the Economic and Commercial Consular in China Embassy in Nigeria, Mr Zhaor Lin Xiang gave at a press briefing as standing at about $85 billion as at July, 2018. He said the above figure is made up as follows:
China's export to Nigeria is worth $75 billion for the period under review.
Nigeria's export to China is worth $9.6 (or about $10 billion) for the same period.
These figures give approximate total trade volume of about $85 billion.
In other words, we should ignore Mr Gao's total trade figure of $7.2 billion because his head of department has released the actual Trade figures for both ways.
We have therefore seen the following trade malpractices:
1. The glaring cheating in China's trade with Nigeria and that there is nothing "sustainable" in the trade between Nigeria and China.
2. We have also seen that there is no "mutually beneficiary relationship " in trade between the two countries. It is only cheating, cheating, cheating by China on Nigeria.
3. We have noticed that there is a whopping difference of $75 billion ($85 billion minus $10 billion = $75 billion) which makes Nigeria's trade deficit abysmally below China's export to Nigeria.
4. We have realized why Mr Xiang was elated, as reported by the press, when he held a press briefing on the outcome of the Forum on China – Africa Cooperation (FOCAC) Beijing Summit recently. Without manipulating trade mechanisms to achieve trade imbalances with many countries of the world how can China feed its teeming population of over 2 billion and sustain its economy?
5. We have seen that it was this type of figure of trade deficit against US (of $335 billion deficit with China) that compelled THE US PRESIDENT DONALD J TRUMP TO IMPOSE TARIFFS ON $50 BILLION OF CHINESE GOODS.
The Embassy of China in Nigeria, it was reported, "frowned at the insinuation that China was on a mission to colonize Africa". Why must not Nigerians be bitter about the trade imbalance between Nigeria and China (which is against the economic and social interest of our country, Nigeria).
The fraudulent transfer of $75 billion in trade surplus to China from Nigeria, is it not "CHINA ON A MISSION TO COLONIZE (NIGERIA AND) AFRICA?".Or it is what I may call "CHINA'S ECONOMIC NEO-COLONIALISM OF NIGERIA period.
Professor Yemi Osinbajo Abubakar Bukola Saraki Nigerian Senate Punch Newspapers The PUNCH Newspaper Guardian Nigeria The Sun Nigeria Channels Television Ben Murray-Bruce Ike Ekweremadu Femi Fani-Kayode
