In China Africa news today fears of downturn in Chinese economic performance have been reported in South African news sources suggesting worries that the global economic turmoil might adversely affect Sino African cooperation, especially in the mining and power generation sectors.
Meanwhile Chinese officials have been working as mediators in the ICC attempts to charge Sudanese President Omar Al-Bashir of war crimes. This comes a week after 9 Chinese oil workers were kidnapped in Sudan, and shows a growing level of discourse between China, and the USA and its allies, over Sudan. This is in keeping with a growing Chinese sensitivity to international criticisms over its dealings with Khartoum.
The positives and negatives of Chinese involvement in Africa were drawn into sharp relief as Nigerian textile industry associations today called for more protection form their government from reckless Chinese policy which has all but destroyed the nascent industry. In contrast in Shenzen, one of China’s textile manufacturing powerhouses, China is holding a celebration of African culture with a number of performers from Africa demonstrating their cultural wares.
In other news the Pope has urged Chinese bishops, banned by their government from attending the pontiff’s synod in Africa, to persevere in their attempts to appear at the meeting. Finally, China has secured a deal for liquid natural gas from Algeria exceeding the previous record price.
Profit plunges at China’s Chalco- Business Day (RSA)
Aluminium Corporation of China (Chalco), the country’s largest producer, said third-quarter earnings slumped 93% as metal prices dropped and slowing economic growth hurt demand. Full Story.
China power producer posts $63m loss- Business Day (RSA)
Datang International Power Generation, the biggest Chinese power producer listed in Hong Kong by market value, posted a third-quarter loss because of rising coal costs and state caps on power tariffs. Full Story.
Sudan: China working with West- News 24 (RSA)
China, the biggest foreign investor in Sudan, said on Sunday it was trying to work with Western powers to lessen the fallout from war crimes charges filed against Sudan’s president. Full Story.
South–South trade no longer on the periphery of the global economy – Engineering News (RSA)
The current international financial crisis shows that governments and business must work together to manage markets and ensure growth, South African Trade and Industry Minister Mandisi Mpahlwa said last week. Full Story.
Chinese exporters destroy Nigerian textile industry, lament MAN, NTMA- Vanguard (NG)
Manufacturers Association of Nigeria (MAN) and Nigerian Textile Manufacturers Association (NTMA), has raised alarm over the systematic and deliberate destruction of the Nigerian textile industry and economy by unscrupulous Chinese, their textile exporters, and called on the Federal government to engage the Chinese government over the matter. Full Story.
China Buys Algerian LNG Cargo at Record Price to Boost Supplies- Bloomberg (USA)
China bought an individual liquefied natural gas cargo from Algeria last month at a record price to supplement contractual supplies from Australia. Full Story.
Pope ends synod, announces Africa trip, China appeal- Reuters (UK)
Pope Benedict ended a synod of Roman Catholic bishops on Sunday announcing his first trip to Africa as pontiff and urging Chinese bishops whose communist government banned them from attending to persevere amid hardships. Full Story.
African culture events kick off in S. China city- Xinhua (CHI)
A major Chinese-African cultural exchange program — African Culture In Focus 2008 — kicked off in this southern Chinese city on Thursday. The program brought together 147 artists, performers and cultural officials from 25 African countries for 11 days of dance performance, exhibitions and conferences on cultural exchanges in the southern Guangdong Province city that borders Hong Kong. Full Story.
Chinese workers abducted in Sudan- Al Jazeera (QR)
Nine Chinese oil workers have been kidnapped in Sudan, a Chinese diplomat in the capital, Khartoum, has said. Full Story.
Liberia: Vice President Boakai Lauds China Ties- All Africa (USA)
Liberia’s Vice President Joseph N.Boakai has lauded the close ties betweenLiberia and the People’s Republic of China. Full Story.