Harare: China hopes sincerely and whole-heartedly that a credible, transparent, and smooth election to be held in Zimbabwe, the head of Chinese election observers' team said Tuesday. Mr. Liu Guijin, who leads a five-man observation team from Beijing, told a press conference in Harare that the Chinese government and people care "no less" than any people and governments about Zimbabwe's elections.
Beijing: Half of central government State-owned enterprises' profits will come from their overseas operations in the next five years, compared with less than 38 percent at present, according to the State-owned assets watchdog. The target can be achieved through better allocation of resources, choice of market, brand-building and industrial upgrading, rather than asset acquisitions, experts say. "We will focus on the structure of corporate profits when we evaluate central SOEs' international operations in the next few years," said Liu Nanchang, director of the Performance Evaluation Bureau of the State-owned Assets Supervision and Administration Commission.
Johannesburg: This is the second in a series of six trade reports which explore South Africa’s trade position in the global trading arena. The first report served as an introduction to the topic and provided a discussion of around who SA’s main trading partners are from both an import and export perspective. This report (Part II) gives an overview of SA’s bi-directional trade with Asia, exploring SA’s main trading partners as well as the flow of commodities both to and from the region.
Abuja: The Minister of Foreign Affairs, Ambassador Olugbenga Ashiru, in this interview with Bola Olajuwon, disclosed that President Goodluck Jonathan’s five days’ official visit to China underscored the subsisting cordial relationship between Nigeria and Beijing. He also spoke on the Memoranda of Understanding signed between the two nations.
Publics around the world believe the global balance of power is shifting. China’s economic power is on the rise, and many think it will eventually supplant the United States as the world’s dominant superpower. However, China’s increasing power has not led to more positive ratings for the People’s Republic. Overall, the U.S. enjoys a stronger global image than China. Across the nations surveyed, a median of 63% express a favorable opinion of the U.S., compared with 50% for China. Globally, people are more likely to consider the U.S. a partner to their country than to see China in this way, although relatively few think of either nation as an enemy. America is also seen as somewhat more willing than China to consider other countries’ interests. Still, both of these world powers are widely viewed as acting unilaterally in international affairs.
Johannesburg: The two-day African infrastructure conference ended here on Wednesday, calling on China and other countries to invest in the continent's infrastructure development. The conference was attended by governments, captains of industry and the private sector on the African continent. The African representatives agreed that developing infrastructure will boost the economy in Africa since the superior infrastructure will make it easier for trade and movement of goods between countries. Infrastructure in Africa is old, poor, dilapidated and absent, which has been viewed as a hindrance to trade and economic development on the continent.
Lagos: The federal government has attracted over $25 billion in investment, including the $20 billion Memorandum of Understanding (MoU) signed between Power China and the Ministry of Power to generate for Nigeria 20,000 megawatts of electricity, following President Goodluck Jonathan’s trade mission to China last week. According to Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, during the visit, Bauchi State signed MoU with China Machinery Engineering Corporation (CMEC) for the provision of 120 megawatts of electricity at an estimated cost of $260 million.
The role in the global economy of the five BRICS (Brazil, Russian Federation, India, China and South Africa), has become increasingly important in the last few years. The BRICS make up more than 40 per cent of the world’s population and had a combined gross domestic product (GDP) of over $15 trillion in 2011, more than one fifth of the global total. Some $281 billion in foreign direct investment (FDI) flowed to the BRICS in 2011, accounting for nearly 20 per cent of global FDI flows (UNCTADStat, 2013). Despite the global financial crisis, the BRICS have maintained fairly stable growth. And beyond economic interests, their goals include tighter political cooperation among themselves and stronger political impact globally.
New Delhi: Brazil, China and India now account for a quarter of Africa's total exports, up from a little over 10% in 2005. China has overtaken the United States as the second largest export market for Africa after the EU, with India now in fourth place and Brazil in sixth place. Similarly, the three emerging economies now account for nearly 22% of Africa's imports of US$ 501 billion, up from 13% in 2005.
Mumbai: India-Africa bilateral trade and investment increased exponentially, yet it is far away from the true potential. According to the joint CII-WTO report "India-Africa: South-South Trade and Investment for Development" lack of financing and poor infrastructure facilities are the two key constraints in India-Africa bilateral trade and investment. The report was released on Tuesday by Sunil Kant Munjal, past president, CII, on the margins of the 4th WTO Global Review of Aid for Trade event, held at WTO headquarters in Geneva.