SPECIAL REPORT: "China ‚Üí Africa: With Its Resource-Hungry Push Into The Sub-Sahara, Beijing Puts The Planet To The Test," by Richard Behar, Fast Company, June 2008, p. 101.

Scary but good piece that emphasizes all the downside in Africa from China's great search for raw materials.

The main problem? China acts like the world is running out of resources, believing, in the 1970s manner of the West, that it needs to own everything still in the ground to feel secure.

In reality, an ever-wealthier China doesn't face supply threats or risks, but price risks.

But because China remains backward in its thinking, its approach in Africa repeats a lot of colonial mistakes. These pile up over time, creating a backlash.

And that means China will have to change its policies—indeed, it's entire foreign policy.

The grubby approach simply drives up prices, which feeds inflation, which will make China too expensive in production, which will reduce profits.