In the 1970s, China's financing and construction of a 1,870 km-long railway giving landlocked Zambia access to the Tanzanian port of Dar es Salaam was a monument to Chinese engagement and solidarity with Africa in a previous era. In a flush of post-colonial exuberance, Africa was undergoing a construction boom. The China that built the railway in Africa in the 1970s is a distant shadow of the China of today that routinely builds railways, roads, ports and other infrastructure in various parts of the world. In the 2000s, as the size of China's economy in quick succession surpassed that of Italy, France, the UK, and Germany, China's energy consumption expanded four times faster than expected to 16% of global demand in 2006.
Instead of a boom of new steel and concrete, Africa experienced decades of lost growth. In 2008, the World Bank estimted that access to the most basic services in Africa increased only modestly between the early 1990s and the early 2000s, and only slightly in the last decade. Electricity, for example, is still available to little more than 20% of Africa's total population, and piped water to just 12%.
Yet now a new China with vastly different priorities and strategic outlook is back in Africa, where it is instrumental in Africa's new construction boom that is reshaping the business landscape on the continent. In contrast to its piecemeal interaction with African countries in previous decades, China is now comprehensively engaged with almost all of Africa's 54 countries – lending money, providing aid, trading, investing, and more than all else: building infrastructure and extracting resources. This over-simplified description of China's business in Africa goes to the heart of how Africa's business landscape is changing under the influence of a new superpower hungry for natural resources and well-suited to provide Africa with something it is sorely in need of: infrastructure.
Along with the US and emerging economies such as Brazil and India, China's imports from Africa are as expected characterised by a disproportionate share of oil and minerals. China's trade with Africa has as a result been very lucrative for resource-rich African countries, and these African commodity suppliers have become crucial suppliers for China. South Africa is China's only African trade partner from which it imports substantial amounts of products that are not resources, while China's leading suppliers of oil (Angola), Manganese (South Africa), chromium (South Africa), cobalt (the DRC), and platinum (South Africa) are all African.
In 2011,Janpan earthquake, China contributed amount of people and finance, and also machinery such as excvavtors, cranes, impact crushers, and so on. Africa is now China's largest market in terms of contract revenue with 41.1%, even more than Asia with 36%. Similar to Chinese trade and investment in Africa, the revenue of Chinese contractors is highly concentrated in a few resource-rich countries. In 2009, the leading six countries (Algeria, Angola, Sudan, Nigeria, Libya and Ethiopia), mostly oil and gas-related economies, accounted for USD 18.1 billion or 71% of China's total revenue (see chart below).
- Author Articles
- More From This AuthorStrong global demand for minerals and other commodities promises to fuel demand for mining equipment for years to come. This is positive news for domestic steel suppliers, not just because of the large...According to introducing, xinjiang tianshan metallogenic belt in xinjiang is one of the three major metallogenic belt, has found that all kinds of mineral resources. According to relevant for...Rising demand for such vehicles indicates rapidly increasing activity in the mining sector. 'Since early 2010, the mining sector has steadily gathered momentum and this has had a positive impact on the...From mining machinery industry 2000 ~ 2009 fixed assets steady growth can explain, mining machinery industry return on capital is higher than the average return on assets, is worth the investment of social...It is because of China machinery industry in general are still in the development stage in vulgar, machinery industry unit product comprehensive energy consumption than to the high number of developed...
- Related Articles
- Related ArticlesAdvertising is a vital component of a small business. Failure to build a highly effective marketing plan and promotional campaign would give you reduced sales. Course, anyone who is operational wouldn't want...Digital techniques have eased the production of business cards. Although offset printing is the most sought after in terms of quality, digitalization increases the production with very less turnaround time....Chinese clothes is not only externally elegant but it also symbolizes culture and communicates its own vitality. Archeological remains from the Shantingtung culture unearthed objects like bone sewing needles,...In ancient feudal society, it is easy for people to be distinguished from his daily clothes, especially for the ordinary people and upper-class. For the sake of working and low statue, ordinary people usually...Costume in the Han Dynasty Costume of the Western Han Dynasty (206BC-8AD) followed the one eastablished in the Qin Dynasty (221-206 BC). In the Eastern Han Dynasty, folks in black had to wear purple silk...
- Latest Articles
- Latest ArticlesAnyone who has daily contact with horses will know what a state they can get into and they don’t seem to mind it either! If you own a horse, cleaning out the stable every morning can be met with something...Finding a unique ans exclusive present for that special someone can be thankless task particularly with so many expensive choices in the high streets and departments stores.However, the cost of personalized...Today you can find different kinds of services that help you to get utmost customer satisfaction and support without any hassle. People prefer to choose customer relationship management services to get ...Are you going to hire professional Plumbing Services so you are on the best place here we are going to discuss about the professional plumbers and what should we take care when we have to hire plumbers . ...If you are travelling alone to London, consider an escort service to keep you company during your vacation. Instead of being a time to be alone, this could be your chance to spend some time with the woman of...