With plenty of money to invest from the interest owed to it by the United States, China continues reaching out its tentacles to grab more natural resources from Africa. It is already reaping the rewards of Africa's natural resources and its consumers market. Now it is offering to abolish import duties on some commodities.
Chinese Minister Chen Deming will meet with African leaders on November 9, 2009 as China continues to extract oil, minerals and other raw materials from the area as they invest in the infrastructure and other projects. Chinese investments in Africa now total $7.8 billion and trade has reached 30 percent annually.
New measures include exempting unspecified types of commodities from custom duties, setting up logistic centers, and creating an inspection system to weed out substandard consumer goods. To tighten its hold on Africa, China will build schools and hospitals, support malaria-prevention programs and improve farming methods.
To the detriment of the United States and as the demand for such things as rare minerals that are used in the manufacture of electronics increases, China continues to not only hoard its own supply but also to tighten its economic ties to Africa to insure more control of the world supply.
See video below
To read more about China, go to
http://www.examiner.com/examiner/x-2547-Watchdog-Politics-Examiner~y2009m7d7-China-taking-steps-to-shift-away-from-using-US-dollar
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