Beyond Western-Controlled Developmental Investment

In this chapter, Professor Kishore Mahbubani highlighted how the shift to multipolarity is rewriting the power dynamics of developmental investment.

1. As a result of inequitable practices from Western-led development institutions like the World Bank, African states are increasingly seeking alternatives and perceive investments from Asian nations like China as avenues that offer freedom of choice and autonomy.

2. European opposition to Chinese investment in Africa is counterproductive to the former’s long-term interests, as it reduces migration pressures stemming from demographic imbalances between the continents.

3. Instead of dictating outcomes for others from a position of superiority, the West should be more democratic in allowing emerging powers to choose their own futures.