Weekly news

28/02/2012 to 02/03/2012

Top Stories:                                                                                                          

 The end of state capitalism in China? – Daily Maverick (ZAF)

 BRICS leaders eye top World Bank job – India Today

 Chinese explore investment in Ghanaian energy sector – Esi-Africa

 China’s FAW invests R600m to build vehicle plant at Coega IDZ – Business Report (ZAF)

 China Colonizing Africa? International Studies Club hosts lecture – Kaleidoscope (CHN)

 BRICS Bank to Be Discussed at March Summit, Russia Official Says – Bloomberg

Politics                                                                                                                 

China-Africa: 2nd ECOWAS-China forum to hold in Ghana – Afrique en ligne
01/03/2012
Ghana will host the second edition of the ECOWAS-China forum from 20-21 March in Accra, during which private-sector operators will seek to develop partnerships in six key areas with Chinese firms, the West African sub-regional body announced here Wednesday.

Proposed BRICS Bank Included in March Summit Agenda – International Business News
29/02/2012
Determined to make its presence felt in the global community, the BRICS group – Brazil, Russia, India, China and South Africa – has pen-pushed for discussion on their fourth summit scheduled on March the creation of a multilateral bank for their group’s exclusive use and disposal.

Africa talking to China: South Africa – The African Report
27/02/2012
Tough governments are able to get the most out of the rise in emerging-market interest in Africa. Here is one example of countries trying to get beyond the ‘win-win’ rhetoric in engagements with their Chinese partners.

The end of state capitalism in China? – Daily Maverick (ZAF)
27/01/2012
A report out of the World Bank on Monday called for China to scale back on the dominance of state-owned companies and complete the transition to an open market economy, or face potential collapse. The report apparently has the endorsement of Beijing’s most powerful leaders.

BRICS leaders eye top World Bank job – India Today
27/02/2012
The battle between the developed and the developing world has now manifested itself into a fight for the control of the Bretton Woods twins – the World Bank and the International Monetary Fund (IMF).

Austrian Media: Some Westerners Misread China’s Africa Policy – CRI
27/02/2012
An Austrian newspaper recently published an article stating that some westerners have misread China’s Africa policy. The article in the Der Standard newspaper from Vienna, Austria, suggests that these people can actually learn from China’s aid policies towards Africa.

Economics                                                                                                            

A review of real economic developments across SA, Africa & the world – Engineering News (ZAF)
02/03/2012
French utility EDF says it plans to bid for a contract to build nuclear reactors in South Africa in a possible Franco-Chinese partnership. EDF’s nuclear business helped it to post higher 2011 earnings, offsetting lower hydroelectric power generation.

50 years of China-Uganda ties – News Vision (UGA)
01/03/2012
This year marks Uganda’s Independence jubilee and establishment of diplomatic relations between China and Uganda. China and Africa enjoy a long-standing friendship. Between 1950s’ and 1970s’, China and Africa had supported each other and worked together. China rendered a lot of support for African countries in their national independence and liberation struggles.

India, China to boost emerging economies – The North Western (USA)
01/03/2012
Indian and Chinese foreign ministers met Thursday ahead of a summit of leaders from five emerging economies that are pushing for a bigger voice in global financial affairs.

Beware of the dangers that will come – News 24 (ZAF)
29/02/2012
Africa as a whole with South Africa rapidly following suit, have been and continue to pander to China’s obvious ambition to take over and control not only Africa’s resources but also Africa itself. Some things to urgently consider.

China ‘to have soft landing as it reforms’ – Business Report (ZAF)
28/02/2012
China was likely to see little slowdown in growth this year even as its government needed to overhaul its economy to manage expansion over the next two decades, World Bank president Robert Zoellick said yesterday in Beijing.

World Bank says China’s economy at ‘turning point’ – The Citizen (Tanzania)
28/02/2012
China has reached a “turning point” in its economic development, with the pace of growth likely to nearly halve in the next two decades, World Bank and Chinese government researchers

China is Africa’s biggest trading partner and pledges to boost ties – Macauhub
27/02/2012
In 2011 China became Africa’s biggest trading partner, with trade of US$160 billion, and will continue to boost ties with African countries, increasing trade, investment and cooperation.

More soft power needed in Africa – China Daily
27/02/2012
Sino-African relations have progressed significantly on the economic front over the past decade, thanks to the highly institutionalized Forum on China-Africa Cooperation that was established in 2000.

Business                                                                                                               

Finance and banking

Parliament approves off-taker agreement under China loan deal – Ghana Web (GHN)
29/02/2012
The ruling NDC lawmakers of Ghana have voted massively to pass the controversial off-taker agreement between the Ghana National Petroleum Corporation (GNPC) and the UNIPEC Asia Company Limited, paving way for the construction of a massive gas infrastructure expected to speed-up the Jubilee natural gas in the Western region.

Standard Bank plays key role in finance and growth – China Daily (CHN)
29/02/2012
After more than one year of launching operations in Angola; Standard Bank, based in SouthAfrica, has strengthened the domestic commercial banking sector by emphasizing growththrough services to corporate clients in the energy sector.

BRICS Bank to Be Discussed at March Summit, Russia Official Says – Bloomberg
27/02/2012
Leaders from the world’s biggest emerging markets will ask their finance ministers to study a proposal for a bank funded exclusively by their nations at a summit in March, a Russian official said.

Oil and Energy

Western Chiefs Endorse Gas Project – Ghana Web (GHN)
01/03/2012
The 2012 first General Meeting of the Western Regional House of Chiefs came off last week, with a call on all chiefs and stakeholders in the region, to lend support to the Ghana Gas infrastructure project, for it to facilitate the development of the region.

Sudan, China Discuss Oil Dispute – Voice of America (USA)
28/02/2012
Sudan’s foreign minister and Chinese leaders have discussed an oil transport fee dispute with South Sudan and the security of Chinese workers.  Sudan Foreign Minister Ali Ahmed Karti wrapped up a two-day visit to Beijing, asking China for help negotiating oil transport fees with newly independent South Sudan.

Chinese explore investment in Ghanaian energy sector – Esi-Africa
28/02/2012
A delegation of the China Chamber of Commerce has paid a visit to the Ministry of Energy to explore and discuss potential areas of investment in the Ghanaian energy sector.

Chinese explore investment potential in energy sector – The Chronicle (GHA)
28/02/2012
The China Chamber of Commerce, on Thursday, paid a visit to the Ministry of Energy to explore potential areas of investment in the Ghanaian energy sector.

Mining and Metals

China & South Africa Lead Global Vanadium Market According to Merchant Research & Consulting Ltd – SF Gate (USA)
29/01/2012
he key factor behind the ongoing vanadium market growth and output increases is the booming steel industry. Vanadium steels are being applied more extendedly and variedly today. The end-use areas range from steels in electric power to batteries and aero-engine gas turbines.

Transport and Infrastructure

SAA, Air China in code share pact – Business Report (ZAF)
01/03/2012
South African Airways (SAA) announced on Monday that it has entered into a code share agreement with Air China, with the hope that this will complement SAA’s newly inaugurated non-stop service between Johannesburg and Beijing.

Chinese automaker starts building in SA – SAInfo (ZAF)
01/03/2012
China’s leading auto manufacturer, First Automobile Works, has begun construction on a US$100-million truck and passenger car plant at the Coega industrial development zone in South Africa’s Eastern Cape province.

China’s FAW invests R600m to build vehicle plant at Coega IDZ – Business Report (ZAF)
29/02/2012
First Automobile Works (FAW), the Chinese vehicle manufacturer, is to invest R600 million in South Africa in a state-of-the-art truck and passenger car plant at the Coega industrial development zone (IDZ) outside Port Elizabeth in the Eastern Cape.

KLM offers China-Africa cargo service – Afrter Market Business (USA)
28/02/2012
KLM Royal Dutch Airlines and Kenya Airways are the first carriers in the air transport industry to offer a direct service between China and Africa. The service connects China’s key industrial zone in Guangdong with the Kenyan capital Nairobi, the Gateway to Africa, offering access to all key African markets.

Other

China Colonizing Africa? International Studies Club hosts lecture – Kaleidoscope (CHN)
01/03/2012
Five yellow stars surfaced on a red outline of the African continent projected on the right side of the front wall. To the left was the Chinese flag with a white silhouette of Africa next to the small arched stars located in the upper-hoist corner.

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