Keyword: chinaafrica
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Starting in the late 1990s, China's presence on the African continent experienced a phenomenal expansion. Far more profound changes, however, have been underway and may only become apparent in the next decade. These changes are likely to transform the regional economic landscape of the African continent in ways never seen before. Chinese experts apparently believe that Africa is entering an era of relative stability and that the time to explore its untapped resources has arrived [1]. Chinese policymakers see in Africa possible solutions to some of China's most pressing problems, for instance, Beijing's need to secure access to energy resources...
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It is clear that China is now the new great colonial power; albeit mostly via economic colonialism, rather than necessarily some late Victorian model. Whether it is its virtual vulture capitalist snatching up of numerous European corporations during the crisis of the Great Recession, or the more subtle method of gaining ground via real estate or business investments in countries like Australia, Canada, and, to perhaps a lesser extent, the USA, or its growing influence over Hollywood’s movie industry, China has moved into a position of increased dominance throughout the world. Yet, it is its growing influence in Africa that...
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A top Chinese defense official has accused Washington of being the mastermind behind a conspiracy to deprive Africa of peace and prosperity, and lauded anti-West dictators. Speaking April 27 at a banquet in Zimbabwe’s capital, Harare, Lt Gen. Qi Jianguo, deputy chief of staff for the People’s Liberation Army, launched a tirade against the United States and praised Zimbabwe’s 90-year-old dictator, Robert Mugabe. Gen. Qi was the guest of honor for Gen. Constanine Chiwenga, chief of the Zimbabwe Defense Forces (ZDF). “General officers and men of China admire ZDF, especially your commander-in-chief, President Mugabe who has managed to stand against Western powers’ machinations to destabilize the African continent,” Gen. Qi was quoted as...
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China's currency Renmimbi (RMB) can be expected to settle 15 percent of the trade between China and South Africa and China and Africa from 2016. A brave prediction, but one which Bank of China (BOC) Johannesburg Branch CEO Qiu Zhikun is confident will transpire. The forecast was made in Johannesburg at the inaugural 2013 First South Africa-China Capital Market Forum, held in August to focus on collaborative opportunities in the counties' capital markets. RMB in Africa BOC Johannesburg Branch first offered RMB services in Africa in 2010, accumulating to a current total of 3.35 billion yuan ($547 million). The RMB...
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Journalists say CCTV-owned outlets censor reports across the continent When one of South Africa's biggest newspaper chains was sold last month, an odd name was buried in the list of new owners: China International Television Corp. A major stake in a South African newspaper group might seem an unusual acquisition for Chinese state television, but it was no mystery to anyone who has watched the rapid expansion of China's media empire across Africa. From newspapers and magazines to satellite television and radio stations, China is investing heavily in African media. It's part of a long-term campaign to bolster Beijing's "soft...
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From an African perspective, China is a vast country shrouded in myth and preconceived ideas, especially when it comes to Chinese doing business on this continent. This is largely perpetuated by the lack of real information on both sides: the Chinese need to know how they are actually perceived so that they can actively work to improve their image, and their African partners need to operate from an informed position in order to take advantage of the many opportunities offered by Chinese investment. Just how wide the gaps on both sides are was highlighted during the recent journalist study visit...
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US President Barack Obama arrived in Senegal on Wednesday for the first leg of a week-long trip to Africa. Moving on to South Africa for the weekend, he was scheduled to end his visit in Tanzania on Monday and Tuesday. The trip is a bid by the United States to strengthen ties and improve investment opportunities. That much is clear in the statement released by the White House in May, which said that Obama intended to "reinforce the importance that the United States places on our deep and growing ties with countries in sub-Saharan Africa, including through expanding economic growth,...
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China overtook the United States to become Africa's single biggest trading partner in 2009, with 13.9% of the continent's trade, ahead of the US with 13%, but figures show that Africa is a minor player in China's overall trade. China's trade with Africa reached $166.3-billion in 2011 and nearly $200-billion in 2012. Total foreign trade with South Africa has reached $45-billion, which makes up a significant portion of China's trade with the continent. South Africa is China's biggest African trade partner and China is the primary destination for South African exports, followed by the US, Japan, Germany and India. But...
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Jiang Binbin, a 27-year-old Chinese woman with a passion for travel, ticked off one more box on her bucket list in 2012, when she visited the Cape of Good Hope in South Africa. "The natural beauty there is beyond description. It will not be the last place I visit in Africa as I am planning to go to Mozambique and Morocco later this year," Jiang told ChinAfrica. She is one of the 870,000 Chinese who traveled to Africa in 2012. The rising number of Chinese tourists visiting Africa mirrors the growth of China-Africa service trade in recent years. With the...
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President Xi Jinping's trip to Africa was as refreshing as it was reinforcing. Considering the significant effort and financial commitments of China's foreign policy toward Africa under Hu Jintao's administration, there are concerns as to whether or not Beijing's generous policies will change with the new government. While there was less mention of sizeable multi-billion dollar deals during Xi's time in Africa, this probably reflects the China-Africa relationship as it matures. His three state visits to Tanzania, South Africa and the Republic of the Congo were more about geopolitics than new commercial initiatives. Yes, China's relationship with Africa is driven...
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