China Engaging in New Form of Imperialism: Beats Out World Bank as Biggest Lender to Africa

From Shanghaiist:

In accordance with rapidly-waning Western influence on the African continent, China has surpassed the World Bank as biggest lender to the credit-poor developing world in the past year, according to US-based Asia Society.

China has signed a multitude of billion dollar deals with some of the world's poorest nations, ranging from investments in hospitals, malls and power stations to new roads, railways, and other institutions. African countries such as Zambia and Angola see the footprint most visibly, where billboards, road signs, and even ATMs are now displaying Chinese characters. And then there's the plethora of Chinese trade delegations flying over to sign deals some consider to be a new form of imperialism.

http://shanghaiist.com/2011/12/14/china_lending_more_than_world_bank.php