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12 Dec 09

Institute for Policy Studies: Africa and the Economic Crisis

  • The current crisis, however, has dictated a more central role for African governments in regulating their economies, preventing capital flight, and creative taxation, so that Africa's resources benefit her people. Africa's focus must be on creating decent jobs by supporting small- and medium-sized enterprises that add productive value to Africa's vast natural resources.
  • The current crisis, however, has dictated a more central role for African governments in regulating their economies, preventing capital flight, and creative taxation, so that Africa's resources benefit her people. Africa's focus must be on creating decent jobs by supporting small- and medium-sized enterprises that add productive value to Africa's vast natural resources.
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06 Dec 09

Libya Cautions China: Economics Is No Substitute to Politics - The Jamestown Foundation

  • A number of themes were singled out in his criticism. For one, accusing China of a "divide and rule" policy, he rejected Beijing's refusal to allow delegates of the African Union (AU) to participate in the Forum or to consider the AU as a representative of Africans. It "is an insult to the African Union. […] Is it reasonable for China—as a single country—to preside over an entire continent? This is an injustice. […] China's unwillingness to accept the presence of African Union commissioners means that they do not want the African Union, or African Unity, but rather China wants to cooperate with Africa as separate nations, rather than as a union."
  • he raised an interesting point, accusing China of evading politics and Beijing of abandoning the movements and countries that need its support. "Here I am reminded of the strange Chinese position on the Goldstone report…China should have a more visible position on this, rather than being satisfied with a tentative vote." In an unequivocal statement he said: "Genuine cooperation must include politics […] and should not be limited to building roads and schools. It is true that this is required, but international cooperation is not based on constructing buildings and giving aid, but rather through political positions." These remarks highlight one of Beijing's principal weaknesses in the international system: its systematic attempts to avoid taking clear-cut positions on global issues in an effort to please all sides. Sooner or later, Beijing's political passivity will begin to undermine its economic interests. Implicitly, Libya's Foreign Minister warns the Chinese that the countries and people of Africa (and the Middle East) expect more vigorous political support and, while they may appreciate China's economic contribution, they have no intention of becoming subjugated to the Chinese and prefer to keep their options open.
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26 Oct 09

Pambazuka - African view: China's new long march

Sixty years of communism in the People's Republic has lulled some people into forgetting just what committed businessmen the Chinese have been for 3,000 years.

www.pambazuka.org/...59674 - Preview

china africa development news pambazuka economics

  • Sixty years of communism in the People's Republic has lulled some people into forgetting just what committed businessmen the Chinese have been for 3,000 years.
  • The Chinese are here and everywhere else to make money and let no-one forget that - ever.
06 Oct 09

The demise of the dollar - Business News, Business - The Independent

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

www.independent.co.uk/...ise-of-the-dollar-1798175.html - Preview

petroleum industry china oil dollar currency

  • The plans, confirmed to The Independent by both Gulf Arab and Chinese banking
    sources in Hong Kong, may help to explain the sudden rise in gold prices,
    but it also augurs an extraordinary transition from dollar markets within
    nine years.
07 Jun 09

PZN - The G20, China and the implications for Africa

  • Beijing has signed currency swap agreements with six central banks: Hong Kong, Indonesia, Korea, Malaysia, Belarus and most recently Argentina. These swaps permit those central banks to sell yuan to local importers in those countries who want to buy Chinese goods. This is particularly useful for importers struggling to obtain trade finance as a result of the financial crisis. As such, it's consistent with China's desire to participate in the Group of 20's efforts to support trade financing.'
01 Aug 08

DRC: Mining multi-nationals get deal of the century



  • <!-- google_ad_section_start -->

    Corruption


    DRC: Mining multi-nationals get deal of the century


    2008-07-18


    http://www.pambazuka.org/en/category/corruption/49569


    Printer friendly version


    There is potentially enormous mineral wealth in the DRC province of Katanga. In exchange, investors from all over the world, and especially China, are prepared to offer money and infrastructure to revive the DRC after 15 terrible years of war and invasion. The potential for ecological disaster, social exploitation and corruption is almost limitless.

    Le Monde diplomatique

    -----------------------------------------------------



    July 2008 MINING MULTINATIONALS GET DEALS OF THE CENTURY





    Copper colony in Congo



    There is potentially enormous mineral wealth in the DRC province of Katanga. In exchange, investors from all over the world, and especially China, are prepared to offer money and infrastructure to revive the DRC after 15 terrible years of war and invasion.

    The potential for ecological disaster, social exploitation and corruption is almost limitless.



    by Colette Braeckman



    Lubumbashi is the capital of Katanga, the southernmost state of the Democratic Republic of Congo (DRC). Day and night, huge trucks roar through its streets, making for the nearby Zambian border with cargoes of copper and cobalt on their way, via the Tanzanian port of Dar es Salaam, to Asia. Every month new stores open: fast food joints with American names, and shops where the locals stare in wonder at Chinese consumer goods, finally within their reach.

  • Lubumbashi is the capital of Katanga, the southernmost state of the Democratic Republic of Congo (DRC). Day and night, huge trucks roar through its streets, making for the nearby Zambian border with cargoes of copper and cobalt on their way, via the Tanzanian port of Dar es Salaam, to Asia. Every month new stores open: fast food joints with American names, and shops where the locals stare in wonder at Chinese consumer goods, finally within their reach.
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13 Jul 08

Russia, China veto UN sanctions on Zimbabwe regime | AP (12.07.08)

China (one of Zimbabwe's major trading partners): "The development of the situation in Zimbabwe until now has not exceeded the context of domestic affairs; It's the arrogance of the Americans. They think they can rule the world. They can't."

ap.google.com/...bVQm_La3Ic3ONH2Yu-sZwD91S1NJG0 - Preview

Zimbabwe Mugabe China Russia international law oppression human rights

05 Jul 08

Pambazuka News

In Africa, the Russian state seems far more ‘upfront’ about pursuing its grand geopolitical projects than the more cautious and patient Chinese. Russia’s private sector too is prepared on occasion to operate with an unashamed directness where others might be more diplomatic." While all eyes are on China's growing influence in Africa, Stephen Marks argues that Russia's Russia's bear is quitely [sic] intensifying its hug.

www.pambazuka.org/...48823 - Preview

russia china africa intervention development pambazuka international

  • But diamonds apart, there is one significant difference between this Russian interest in energy and raw materials and its larger and more publicised Chinese comparator. While a major Chinese motive is the need for raw materials to fuel and feed China’s soaring output, Russia is a major raw materials exporter. Indeed it is rising world raw material prices, partly fed by China’s growing demand, which provides Russia with the cash resources to fund its purchases of African and global assets.
  • There is also talk of a grand $13bn trans-Sahara gas pipeline from the Niger Delta to the Algerian coast and thence to Europe [1]. While some experts consider this ‘politically and technically impractical’, the majority state-owned Gazprom’s Chief Executive is said to be in continuing discussions with officials from the Nigerian National Petroleum Corporation (NNPC).
26 May 08

As Global Wealth Spreads, the IMF Recedes

Ghana had joined a long list of developing countries in Africa and beyond enjoying record periods of growth, with the robust economy leaving it no longer in need of more IMF cash.

www.washingtonpost.com/...AR2008052303187_pf.html - Preview

ghana imf international finance development china africa india neoliberal structural adjustment

  • Ghana had joined a long list of developing countries in Africa and beyond enjoying record periods of growth, with the robust economy leaving it no longer in need of more IMF cash.
  • The IMF, founded in 1944 to foster the reconstruction of the global economy in the wake of World War II, is entering its largest period of upheaval since the fall of the Berlin Wall. Over the next year, the Washington institution will slash its 2,900-person workforce by 13 percent through a combination of buyouts and some layoffs, reflecting a loan portfolio shrinking so fast that the IMF is seeking to sell off $6 billion in gold reserves to create a new long-term source of income.
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05 May 08

New Left Review - Fredric Jameson: Future City

We here follow the outlines of housing communities in the Pearl River Delta area ... Indeed, the four communities explored here are something like four different Utopian projections: Shenzhen, a kind of alternate or double of Hong Kong; Dongguan, a pleasure city; Zhuhai, a golfing paradise; while the old centre, Guanzhou (Canton), becomes a kind of strange palimpsest, in which the new is superimposed on an already existing traditional economic centre. It is an extraordinary travelogue into the future, and gives a more concrete sense of China today and tomorrow than most guidebooks (and many real tours).

newleftreview.org/?view=2449 - Preview

pearl river delta fredri fredric jameson china urbanism globalization electronics industry

  • We here follow the outlines of housing communities in the Pearl River Delta area which are being projected for a future quite unlike those researched by Western speculators or banks and funding institutions in the capitalist world. Indeed, the four communities explored here are something like four different Utopian projections: Shenzhen, a kind of alternate or double of Hong Kong; Dongguan, a pleasure city; Zhuhai, a golfing paradise; while the old centre, Guanzhou (Canton), becomes a kind of strange palimpsest, in which the new is superimposed on an already existing traditional economic centre. It is an extraordinary travelogue into the future, and gives a more concrete sense of China today and tomorrow than most guidebooks (and many real tours).
24 Apr 08

The Growing Relationship Between China and Sub-Saharan Africa: Macroeconomic, Trade, Investment, and Aid Links

China's economic ascendance over the past two decades has generated ripple effects in the world economy. Its search for natural resources to satisfy the demands of industrialization has led it to Sub-Saharan Africa. Trade between China and Africa in 2006 totaled more than $50 billion, with Chinese companies importing oil from Angola and Sudan, timber from Central Africa, and copper from Zambia. Demand from China has contributed to an upward swing in prices, particularly for oil and metals from Africa, and has given a boost to real GDP in Sub-Saharan Africa. Chinese aid and investment in infrastructure are bringing desperately needed capital to the continent. At the same time, however, strong Chinese demand for oil is contributing to an increase in the import bill for many oil-importing Sub-Saharan African countries, and its exports of low-cost textiles, while benefiting African consumers, is threatening to displace local production. China poses a challenge to good governance and macroeconomic management in Africa because of the potential Dutch disease implications of commodity booms. China presents both an opportunity for Africa to reduce its marginalization from the global economy and a challenge for it to effectively harness the influx of resources to promote poverty-reducing economic development at home.

wbro.oxfordjournals.org/...103 - Preview

development governance china africa

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