Senegal, A Chinese Economic Colony?
Let me get this out of the way:
Yes, this report comes from Al Jazeera, deal with it.
I wanted to get that out of the way in case someone thinks that the source of the video is supposed to mean something. It doesn’t. It’s a good report on something that I think is relevant.
What about the Chinese in Dakar?
The locals feel that their way of doing business is being threatened by the Chinese and their “cheaper, faster, more” mentality.
I see something completely different. I see a nimble competitor coming in to a market and satisfying the customer’s needs better than the local businesses had been.
One thing that strikes me, is the difference in perception between the Chinese and the Senegalese business people. The Chinese see Senegal as a land of opportunity, where the water is clean, the fish are plentiful etc. The Senegalese business people, see poverty and recession.
There’s a point where a Senegalese business man points out that he sells quality shoes, imported from Italy, that last forever. Whereas the Chinese shoe stores sell cheap Chinese made shoes that don’t last. I think he’s missing the point.
Yes, quality is important, but repeat buyers are more important. Consumers may only buy 1 pair of good shoes a year, but they’ll buy 5 or 6 pairs of cheap “utilitarian” shoes every year.
What do you think?
Are the Chinese destroying the local Senegalese economy, or are they just better at selling what consumers want to buy?