Justin's note: Is China taking over Africa?

A lot of folks are asking themselves this question, and for good reason.

You see, China's pulling resources out of the ground in Africa at an alarming rate. Not only that, Chinese people are pouring into the continent by the boatload.

That said, it's not all "bad news." China's also started construction companies across Africa, created jobs, and built schools and hospitals.

In short, the question I posed above is trickier than it may seem. So I got Doug Casey to tell me what he thinks.

Keep in mind, this interview is controversial. Please don't read ahead if you're easily offended.

Justin: Is China exploiting Africa?

Doug: Of course "exploit" is a loaded word; it implies one-sided, unbalanced dealings, and unfair business—although the word "fair" also has lots of baggage, and politically charged meanings.

But, yes, they're definitely exploiting Africa. We're seeing a veritable re-colonization of Africa. Every time I visit Africa I see more and more Chinese. It doesn't matter which country; they're everywhere.

It's important to remember that Africa doesn't produce anything besides raw materials. There's close to zero manufacturing, like 1% of the world's total, in sub-Saharan Africa. And almost all of that is in South Africa. The little there is, is only produced with the help foreigners—Europeans, but increasingly the Chinese.

The Chinese basically see Africans as no more than a cheap labor source. That's at best. Other than that, they're viewed as a complete nuisance. Basically an obstacle, a cost, standing in the way of efficient use of the continent itself.