Tuesday, March 12, 2013

What's the 411 with China and Africa?

Photo: Wikipedia
Africa and China building a relationship? What's up with that?

Africa is saturated with valuable natural resources and, as a result, has been the long-time victim of colonization and severe exploitation by European countries. Most people know about Europe's involvement with the Mother Land but few ever talk about the relatively new China -- Africa connection.

So what is this connection between China and Africa? all.Africa.com has some thoughts about the matter...Check out the article below for more information!

"Contrary to the claims of critics, China's partnership with Africa is based on sincere friendship, equality and mutual respect for the sovereignty through non-interference in domestic affairs and the offer of loans and grants
The emergence of China onto the global economic arena has received much attention, perhaps than any emerging economy the world has seen; and several reasons are attributed to this. Compelling are the sudden and astronomical increase of Chinese outward FDI (UNCTAD 2009) and the nature of this outward FDI; especially as it tends to defy all traditional principles governing outward FDI, particularly to Africa.
The continent is home to enormous raw materials, enough to capture the attention of any industrialized nation; China is no exception. Africa is the world's powerhouse of untapped natural resources; in fact it has about 99 percent of the world's chrome, 85 percent platinum, 68 percent cobalt, 54 percent gold and other precious minerals (Nevin 2008)."

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