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China Officially Became The World’s Largest Economy, Ahead Of The U.S.

AFRICANGLOBE - China officially became the world’s largest economy, ahead of the United States, according to the International Monetary Fund (IMF). For the first time since 1872, the United States of America loses their position as the leading world economic power in favor of China. It’s the end of 142 years of American supremacy.

China-Africa Relations Make The Continent Economically Vulnerable

AFRICANGLOBE - It’s no secret that one of the major drivers of the strong growth that Africa has enjoyed over the last few years has been its connection to China, with its rapid economic growth and powerful thirst for African resources.

China Halts Arms Sales To South Sudan After Norinco Shipment

AFRICANGLOBE - China halted weapons sales to South Sudan after it discovered the state arms manufacturer sold millions of dollars worth of equipment to the country, a Chinese Embassy official said.

Chinese Firm Signs $12bn Deal To Build Nigerian Railway

AFRICANGLOBE - A state-owned Chinese company has signed a $12bn agreement to build a railway along Nigeria’s coast that it billed as China’s single largest overseas contract, state media said on Thursday. China Railway Construction Corp (CRCC) signed the official construction contract with the Nigerian government on Wednesday in Abuja, the Xinhua news agency said.

Africa Is A Chess Board Again As US And China Face...

AFRICANGLOBE - Africa has long been a battleground for world powers. Two giants playing there these days are China, which is spending freely throughout the continent to scoop up resources and tap some of the fastest-growing economies, and the US, which is looking to do more business. Both Chinese and US companies expect to profit from their African stakes. The question is whether Africans will win or lose.

Ivory Smuggled On China State Trip: Report

AFRICANGLOBE - Chinese officials and businesspeople used a state trip by President Xi Jinping and other high-level visits to smuggle ivory out of Tanzania, an environmental watchdog said Thursday, casting doubt over Beijing's efforts to end the illegal trade that has led to rampant elephant poaching throughout Africa.

China To Send Elite Army Unit To Help Fight Ebola In...

AFRICANGLOBE - China will dispatch an elite unit from the People's Liberation Army to help Ebola-hit Liberia, the Foreign Ministry said on Friday, responding to U.N. calls for a greater global effort to fight the deadly virus in West Africa.

The Next Shirt You Buy May Be ‘Made In Ethiopia.’ Here’s...

AFRICANGLOBE - Huajian Shoes and Akya Tekstil, two of the world's largest apparel-makers, are planning multibillion-dollar "apparel-cities" in Ethiopia fit for up to 60,000 workers and 50 different manufacturers each.

$8bn Rail Project: Uganda Looks To Oil As Alternative To Chinese...

AFRICANGLOBE - “Remember we have our oil, which we shall start harvesting in 2017, and that money will deal with these projects – railway and electricity … China or no China, we shall build that railway,” Yoweri Museveni was quoted as saying on Monday on the sidelines of an African investment conference in London.

Zimbabwe-China Mega Deals Anger Western Countries

AFRICANGLOBE - Western countries that imposed illegal economic sanctions on Zimbabwe, are threatened by China’s growing business ties with Zimbabwe and other African countries and are making spirited efforts to scuttle the Asian country’s deals through a media onslaught, The West’s illegal sanctions regime is estimated to have cost Zimbabwe over $42 billion in revenue since 2000 in addition to shrinking the economy by a factor of over 40 percent.

The Chinese In Africa: Empire Builders Or Pioneers?

AFRICANGLOBE - If the Chinese government is trying to impress Africans, the attitude of many Chinese towards Africans, however, might be driving them away. One of the disturbing, and even shocking, aspects the overtly racist attitude of the Chinese in Africa. The Chinese seem to believe Africans (or “Blacks”) are inferior and could never develop their countries on their own.

Uganda To Seek US$8 Billion China Loan To Fund Railway

AFRICANGLOBE - Uganda is hoping to secure a $8 billion loan from China to build a railway network to revamp the country’s transport infrastructure as it prepares to start oil production.

China Sending 1,800 “Peacekeepers” To South Sudan

AFRICANGLOBE - China is sending hundreds of troops to join the U.N. "peacekeeping force" in South Sudan, where Chinese companies have major oil interests. Comments from China's Foreign Ministry on Tuesday followed a report in the Wall Street Journal that said China was deploying troops to protect South Sudanese oil fields and the Chinese workers and installations around them.

China’s Designs On Africa In Dispute

AFRICANGLOBE - Separating myth from fact is a far from easy task when examining China’s dealings with African countries. Earlier this month, Kenyan officials let it be known that 5,000 Chinese workers would travel almost 10,000kms to Africa to build the first phase of a railway on which President Uhuru Kenyatta had staked a huge chunk of his legacy.

More Mega Deals Struck Between Zimbabwe And China

AFRICANGLOBE - Zimbabwe struck more mega deals in China with funding agreements and feasibility studies of power projects, road dualisation and railway line construction being put on paper yesterday. There were indications that the Chinese government had assured the Zimbabwean delegation — led by President Mugabe — that there would be no cap on how much Beijing can avail to Harare on viable projects

Zimbabwe And China Sign Nine Mega Deals

AFRICANGLOBE - Zimbabwe and China yesterday signed nine landmark agreements that will see the emerging global giant from Asia providing financial support for the much-needed economic enablers in critical sectors that include energy, roads, national railway network, telecommunications, agriculture and tourism as part of the Zimbabwe Agenda for Sustainable Socio-Economic Transformation.
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