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Americans and Chinese Vie to Do Business in Africa

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Shortly, President Obama will visit a number of African countries. Economic development will be a hot topic among the many to be discussed. Currently, China is developing partnerships throughout Africa, but does America have more in common with the African nations than China does? There are several areas where African interests converge more closely with America than with China, or with Asia in general.
obama-in-ghana
First, one in six people in the United States is African-American, compared with a much smaller number of people of African descent who are Chinese citizens. African-Americans have contributed enormously to American culture, science, and politics throughout their history in spite of the terrible legacy of slavery.

Second, the African continent would benefit from the U.S.’s political and governmental experience with democracy and democratic institutions. Also, the court system in the U.S. is much easier to navigate, as is the Uniform Commercial Code which governs business transactions.

Although China is beginning to experiment with capitalism, its commercial institutions are highly intertwined with state-run enterprises. As a consequence, consummating business transactions is more complicated in China.

Third, in the U.S., organizational management structure and accounting practices are highly standardized through centuries of business experience and tradition, including the Chartered Accountants of England and of Canada and Public Accountancy in the United States. The same advantages also hold for the European and American Stock Exchanges and bourses. Currently, the International Federation of Accountants has begun a long process of reconciling commonalities in global accounting standards. Nonetheless, the European and American accountancy bodies are at the cutting edge of accounting practice, as well as accounting and management information systems consultancy.

For all of the above reasons, African interests are more closely allied to the United States than to China or even Asia in general. Clearly, the United States has a comparative advantage in the
formulation and implementation of democratic institutions, the legal code, the U.S. court system, and the accounting, economic and financial standards which are centuries old.

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About Dr Joseph S Maresca

I've taught approx. 34 sections of collegiate courses including computer applications, college algebra, collegiate statistics, law, accounting, finance and economics. The experience includes service as a Board Director on the CPA Journal and Editor of the CPA Candidates Inc. Newsletter. In college, I worked as a statistics lab assistant. Manhattan College awarded a BS in an allied area of operations research. The program included courses in calculus, ordinary differential equations, probability, statistical inference, linear algebra , the more advanced operations research, price analysis and econometrics. Membership in the Delta Mu Delta National Honor Society was granted together with the degree. My experience includes both private account and industry. In addition, I've worked extensively in the Examinations Division of the AICPA from time to time. Recently, I passed the Engineering in Training Exam which consisted of 9 hours of examination in chemistry, physics, calculus, differential equations, linear algebra, probability/ statistics, fluids, electronics, materials science/structure of matter, mechanics, statics, thermodynamics, computer science, dynamics and a host of minor subject areas like engineering economics. A very small percentage of engineers actually take and pass the EIT exam. The number has hovered at circa 5%. Several decades ago, I passed the CPA examination and obtained another license in Computer Information Systems Auditing. A CISA must have knowledge in the areas of data center review, systems applications, the operating system of the computer, disaster recovery, contingency planning, developmental systems, the standards which govern facility reviews and a host of other areas. An MBA in Accounting with an Advanced Professional Certificate in Computer Applications/ Information Systems , an Advanced Professional Certificate in Finance and an Advanced Professional Certificate in Organizational Design were earned at New York University-Graduate School of Business (Stern ). In December of 2005, an earned PhD in Accounting was granted by the Ross College. The program entrance requires a previous Masters Degree for admittance together with a host of other criteria. The REGISTRAR of Ross College contact is: Tel . US 202-318-4454 FAX [records for Dr. Joseph S. Maresca Box 646 Bronxville NY 10708-3602] The clinical experience included the teaching of approximately 34 sections of college accounting, economics, statistics, college algebra, law, thesis project coursework and the professional grading of approx. 50,000 CPA examination essays with the American Institute of Certified Public Accountants. Additionally, membership is held in the Sigma Beta Delta International Honor Society chartered in 1994. Significant writings include over 10 copyrights in the name of the author (Joseph S. Maresca) and a patent in the earthquake sciences.
  • bliffle

    China has a history of dumping poor and dangerous products on world markets. In addition to the poisoned foods we’ve all heard of, they dumped a lot of cheap solar panels that turned out to be defective, causing layoffs and failures among other PV providers. Who has the power to outlaw chinese junk?

  • Dr. Joseph S. Maresca

    Try to get foreign manufacturers to comply with the Consumer Products Safety Division.

  • Dr.Joseph S. Maresca

    Here is the website of the Consumer Product Safety Commission:

    http://www.cpsc.gov/

    These types of operating protocols need to be written into our trade protocols and treaties with foreign nations-all of them. (not just China)

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