How Africa is Becoming The New China In Manufacturing
How Africa is Becoming The New China In Manufacturing and How Africa is Becoming China's China, this is China's Rush into Africa
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▶️ In today's video, we're going to introduce How Africa is Becoming The New China In Manufacturing
Ultimately, the African Union IT team removed these Chinese servers and installed new ones as it was found that The building was bugged. Similarly, the Chinese Import-Export bank handed Sri Lanka $307 million for a port that everyone told the president wouldn't be successful. Sri Lanka has a staggering $4.7 billion in debt to be paid to China by the end of 2015. It drowned in debt payments and left a costly port. Eventually, China controls 85 percent of that port, squeezing 15,000 acres of land surrounding that port. In the world, Africa is one of the most underdeveloped regions, and this lack of development facilitates rapid economic development. Natural resource exploitation is often the initial stage in the process of economic growth in many nations. Almost every country has a certain amount of natural resources that may be utilized to jumpstart economic development. But first and foremost, they must have the funds to construct the infrastructure and undertake the activities required to collect these natural resources. Today, China finds itself in a similar situation. They urgently need energy, money, and resources to continue their meteoric ascent to the mountain's summit. China has overtaken the United States in terms of oil imports, and the country imports a third of its oil from Africa and 20% of its cotton. Africa is home to half of the world's manganese used in steel manufacturing and a slew of other metals used in electronics manufacturing. By investing in African mining and farming, China can benefit from Africa's development while also supplying minerals and food to the Chinese economy, which needs minerals and nutrition.
As a result, Chinese manufacturing companies are establishing their own businesses in African countries. And it seems that China is the only country prepared to take such a risk.
Africa is no longer subservient to the United States, as most of the continent has allied itself with China, the world's fastest-growing superpower in economic and political influence. The apparent explanation for this is that China has poured massive sums of money into the country. A journey to the African continent in search of allies.
Travel the same distance between Philadelphia and Boston aboard The Acela Express, the fastest train in the United States. Chinese engineers also constructed a dam in Guinea, costing $526 million, which has assisted the nation in transitioning from a state of continuous power shortages to producing more electricity than it requires and exporting the excess to neighboring countries. As part of its infrastructure development in Ethiopia, China constructed a $475 million light rail system in the capital. It is the first of its type in Sub-Saharan Africa. These are just a few examples of projects being developed to alleviate traffic congestion in major cities. Yearly, hundreds of additional Chinese infrastructure projects are completed all across Africa. Africa's economy is being transformed due to China's participation in initiatives both large and small. In international relations, there is no such thing as a gift. Everything comes with conditions. China has traditionally not had many friends to invest in its future as a global powerhouse.
Chinese investment in Africa has accelerated as a result, and the nation has used its financial might to establish diplomatic relations with almost every country in the region. That one nation in the South, Swaziland, has, of course, been the only one to refuse to participate in all of this, even though it is a small nation. China has been prosperous in acquiring all of these nations in these regions. Furthermore, Swaziland has decided to stop recognizing Taiwan and to instead back China. These investments are also a component of China's Belt and Road Initiative (BRI), also known as the New Silk Road, one of the most massive infrastructure projects ever envisioned and part of the Belt and Road Initiative (BRI)launched in 2013 by President Xi Jinping.
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