Wednesday, March 25, 2009

NYT: China Quitting Africa

The New York Times says that China is backing out of Africa, but goes on to give as an example the DRC:
In 2007 China announced a $9 billion deal with Congo for access to its giant trove of copper, cobalt, tin and gold in exchange for developing roads, schools, dams and railways needed to rebuild a country roughly the size of Western Europe and shattered by more than a decade of war.

But that deal is now in doubt as falling prices have left Congo in a much weaker negotiating position.
Query: Didn't Congo signal that it was about to sign that deal with China on Monday?

No comments:

Post a Comment