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New Chinese leader’s first debut |
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| Release time:2013-04-08 Source:admin Reads: | |
| After once a decade power transition, Chinese President made his first debut in world arena which attracts the attention worldwide. After Chinese are coming to Africa in ever greater numbers and finding it a comfortable place to visit, work in and trade. As is known to all, Africa continent is affluent in rare metals which can be made into various metal labels. An estimated 1m is now resident in Africa, up from a few thousand a decade ago, and more keep arriving. Chinese are the fourth-most-numerous visitors to South Africa. Among them will be China’s new president who is also going to Tanzania and the Democratic Republic of Congo on his first foreign outing as leader. The origin of China’s fascination with Africa is easy to see. Between the Sahara and the Kalahari deserts lay many of the raw materials desired by its industries. China recently overtook America as the world’s largest net importer of oil. Almost 80% of Chinese imports from Africa are mineral products. China is Africa’s top business partner, with trade of minerals, transportations and metal labels. But it is not all minerals. Exports to Africa are a mixed bag. Machinery makes up one third. The size of China’s direct investment in Africa is harder to measure than trade. Last summer China’s commerce minister, Chen Deming, said the number “exceeded $14.7 billion, up 60% from 2009”. Around the same time the Chinese ambassador to South Africa said: “China’s investment and trade such as metal labels in Africa of various kinds exceeds $40 billion.” Apparently, the first figure is for African investments reported to the government. The second includes estimates of Chinese funds flowing in from tax shelters around the world. Sino-Africa relationship will be much closer with the fast development of emerging countries like Middle Africa, Uganda, Malawi, etc. |
