China In Africa

FDI

China inward investment into Africa.

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  • China In Africa
    • China increased aid to African governments
      • Cancelled US$10 Billion debt
        • Offered debt relief to 31 African countries
          • Discussions on zero-tariff trade
    • Economic boom to be sustained, MUST find raw materials & new markets for manufactured goods
    • 2003
      • China overtook Japan - worlds 2nds biggest consumer of petroleum products after USA
  • China's focus simple
    • Economic boom to be sustained, MUST find raw materials & new markets for manufactured goods
  • Oil consumption forecast to grow 10% every year.
    • China overtook Japan - worlds 2nds biggest consumer of petroleum products after USA
    • Africa has (% of world)
      • 90% Cobalt
        • 90% Platinum
          • 50% Gold
            • 98% Chromium
              • 64% Manganese
                • 33.3% Uranium
  • Rich in diamonds
    • More oil reserves than North America
      • Estimated 40% potential hydroelectric power.
    • 33.3% Uranium
  • China buys 1/3 oil from Africa
    • E.g mainly Angola
      • Invested £800 million to develop a new oilfield
        • Sudan - built 1500km pipeline - invested at least £8 million
          • China spending £1.2 billion on offshore oilfield in Nigeria
            • China In Africa
              • China increased aid to African governments
                • Cancelled US$10 Billion debt
                  • Offered debt relief to 31 African countries
                    • Discussions on zero-tariff trade
              • 2003

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