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Post date: Nov 14, 2009 8:55:28 PM
Uganda
President Museveni this week returned from the Forum
on China-Africa Cooperation in Sharm el Sheik, Egypt,
full of praises for the rising power in the East.
China-Africa cooperation
Chinese Premier Wen Jiabao did not disappoint,
announcing a $10 billion lending facility to
African countries at concessionary rates.
$1bn for SME small enterprises.
Free trade for Africans
Tax free exports for African enterprises to China
Captain-president Camara Guinea
$7bn deal bauxite mining (Aluminium) with Guinea
Bilateral China-Africa economy $100bn
China Investments Africa $50bn
$10bn from China as much as World bank...
In a time of a global credit crunch and nervous investors,
China's $10 billion credit facility - which is about as much
as the World Bank advanced to the whole of Sub-Saharan
Africa last year
Chinese use own workers, no jobs for Africans
Furthermore, Chinese contractors in many African countries,
to wit Angola, tend to bring along many of their unskilled and
semi-skilled workers to do menial work on the projects they fund,
denying locals the opportunity to acquire skills.
source: allafrica.com
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