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China Gives Up On Europe, Will Target Africa Instead
That China has finally given up on Europe is no news (granted, however, it will make it more complicated for various European newspaper to make up articles alleging China will bail out Europe now that this is no longer the case): after all even the Norwegian sovereign wealth fund has finally learned its lesson, and having been burned enough times, has made it quite clear it will have nothing to do with Europe's insolvent periphery. China, which has already lost enough money on Europe, has now decided to do the same. From Bloomberg: "China Investment Corp. has stopped buying European government debt because of an economic crisis on the continent, though it continues to look for new investments there, said CIC President Gao Xiqing. “What is happening in Europe right now is of course of concern,” Gao said yesterday in an interview in Addis Ababa, Ethiopia, during the World Economic Forum on Africa. “We still have our people looking at opportunities in Europe, even though we don’t want to buy any government bonds.” Sorry Europe: you had your chance. As for where China will invest its capital in the future? Why the one continent so far untouched by globalization, and which has the most debt capacity of all...
Yes, Africa:
The Chinese sovereign wealth fund would “love” to boost investments in Africa, Gao said. The company is limited in how much it can invest in Africa because the projects are not large enough to fit its investment criteria, he said.
The fund is boosting investments outside of China as it seeks to increase returns on the nation’s foreign currency reserves and secure commodity supplies. The Chinese government injected about $50 billion this year in the sovereign wealth fund, Gao said. The government has not made a decision on whether to regularly inject capital into the company, he said.
“Right now, we are busy enough, so we don’t worry terribly about recapitalization,” he said. “In the long run, we should do something about it.”
And where the big money is heading, Goldman can't be far behind. Sure enough, as recently as a month ago, the firm released the following 32 page mangum opus setting the stage for the Second Congress of Berlin:
In the early 1990s, few European or American companies would have been quizzed on their strategies for China or Asia. Now it's often the first item on the agenda. Our investigation in this edition is into Africa, and it might provoke déjà vu: is now the time for multi-nationals to be investing in Africa? In short, our conclusion is yes. Africa's exceptionally robust growth over the last decade is probably understated (informal parts of economies are very big), but not being able to measure this growth precisely shouldn't detract from Africa?s potential, which is about much more than resources as it evolves and climbs the consumption, urbanisation and perhaps industrialisation curves that the BRICs have climbed. We believe meaningful opportunities for western consumer companies exist as Africa?s household consumption grow s rapidly (it is already greater than some of the BRICs) and that failure to invest now will see others rush in. Capital flows and trade flows into Africa are a microcosm of the changing world, with the BRICs already there, notably in commodities. We have interviews with investors and Standard Bank and Tiger Brands that paint a picture of rapid and misunderstood change, and pieces from our consumer staples, mining and insurance analysts that reinforce this
Now all that remains is for Jim O'Neill to replace BRICS with SCRAMBLE (Sudan, Congo, Rwanda, Algeria, Mali, Botswana, Libya and Ethiopia) and the next great resource grab arena will be all too clear.
Because make no mistake: this is all about resources. Europe has none left, nor does it have any assets anymore. Which means it is time for a new playground, lots of new debt and debt slaves, and in 20 years: another continent stripped of everything valuable but at least with 200% debt/GDP as far as the eye can see..
Full must read report on Africa from Goldman Sachs:
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one of my Chinese stocks holdings, when I met with the CFO and CEO and asked about them exporting their products they said S. Africa was a market they were testing out and looking to export to.
The West is done for. Hopeless debt basket case.
Dollar is officially no longer the World's Reserve Currency! It is Charmin!
Where is Wadiya on that map??
Wadiya is Washington D.C.
Anti-inflation libertarians often criticize President Robert Gabriel Mugabe for his expansive fiscal policy and the Zimbabwean Central Bank's generous monetary policy. But the fact is, Zimbabwe has gone through a painful but necessary transition to a more equal society. As an avid marxist, President Mugabe understood the need for a more equal Zimbabwe, where the greedy and racist farmers and white industrialists gave a fair share of their property to the state. Now that the painful transition is over, this country is beginning to thrive, much to the dismay of whiny libertarians and doomer Austrians.
OK MDB, you have gone from funny to just plain nutty......
Mugabe's doppleganger is in the White Hut. Plenty of dicks posting here voted for him.
China's "investment" in Africa is to loot and plunder natural resources and labor. The Africans will learn. The westerners were slightly better. The stupid west imported third world illegals and "asylum seekers" and have lost their countries do to the threat of racism. The stigma of racism did more to destroy the west than 20 panzer divisions.
Would you be so kind as to more thoroughly clarify your last two sentences? Thanks.
Made me laugh.
Learn what? They have already gone through the clutches of US citizens. They know by now.
Imported third world illegals? A large number of them were imported legally.
And second, human beings follow the resources. As one transports resources from A to B, people follow.
It is been that way for millenia now.
And the chinese really need to up their game to match the slightly better achieved by US citizens. Once again, they are laggin behind, and one could wonder if they are able to achieve US citizen status...
AnAnonymous said:
Thus the testing grounds of Tibet, Mongolia, and Nepal for Chinese citizenism citizens to practice imposing slavery. This is rehearsal for Chinese citizenism blobbing up in Africa.
Perhaps more weirdo ideas like life extension capsules filled with dried, powdered remains of human babies and fetuses will catch up Chinese citizenism to surpass US citizen status.
In Chinese citizenism, baby powder means powdered baby.
OK MDB, you have gone from funny to just plain nutty......
BWAHAHAHA
How much do you have invested there?
This is one of the most ridiculous comments I've read on ZeroHedge and I've seen some doozies. Right, all we need to do is to take the land of the white guys, give it to the thugs and cronies of the murderer in charge, let the people starve from lack of food, and hyperinflate the currency because the policies were such an economic disaster. Sounds like great policy MDB. You enjoy BHO - he is the American Mugabe. We'll see how popular the program is here.
MDB is a marvel for spotting guys not able to smell an irony as large as Texas.
MDB's super hero power is sarcasm. +1 to Captain Sarcasm!
Now all the serfs of Zimbabwe trade 0.1 grams of gold for a loaf of bread.
That's all equal now.
That's what you meant, right MDB? Back to the gold standard?
China needs to stop throwing good money after bad. Avoid the west, invest in gold and silver. They are.
http://ericsprott.blogspot.ca/
They are full board into Africa trying to get something / anything before the music stops for the bankrupt promises they are holding.
Get real... The only people in Africa which I trust with my money is that Nigerian prince who's dying of cancer and who promised me to give me all his money when he dies.
Are you referring to or President?
Heh. Small world! I know the same guy, and because I helped him out he promised me all of his ... oh shit...
LOL .....did you happen to give him your account information so he can wire you a small installment?
did anyone see steve rattner the x car czar this morn on cnbs....planting the seeds for the furture when he was saying the sheep are just to stupid to understand investing in individual stocks...."how can a doctor in kansas city know anything about exxon to invest in them" ...i am sure the only qualified people smart enough to do this is the gubment....so say goodbye to ur ira and ur 401 k ....
It's coming. They have put out a couple trial balloons already.
check is in the mail!
The US is the leader in promoting Gay rights, uncontrolable spending/deficits, and mini wars. Lets talk about more gay rights. That will surely create good paying jobs.
NPR must do several dozen "news" articles per day promoting homosexuality.
Another NPR "news" favorite is"Women's rights" in the Arab/Muslim world. Yeah, let's start a couple wars and spend a couple Trillion dollars to promote women's rights in Islam. Excellent idea!
Take a look at what Africa Oil Co. stock has done over the last month.
This is very old news. China has been pumping money into Africa and South America for a very long time.
Meanwhile we have been invading third world nations and receiving nothing in return, except bases.
...then our troops leave and turn the trillion dollar bases over to the locals. Now that is ROI!
But back to China / Africa. This is yet another example of of completely inept foreign policy. No one has sold American exceptionalism since Nixon. Reagan sold it to US citizens, but put off the rest of the world when he did. US dominance has fallen ever since, especially in Africa.
Meanwhile we have been invading third world nations and receiving nothing in return, except bases.
_____________________________________________
That is a fair point.
The reason is obvious. US citizens had already performed the theft.
It is the current issue for US citizens, they have been so successful in robbing they own it all by now.
They no longer invade countries to add inputs to their economy but to avoid the inputs are withdrawn from them.
They no longer add new suplly lines to their territory, they have to invest to securize and maintain their supply lines. A well known issue experienced by any expansionist nation.
The Chinese, on the opposite, adds to their inputs pool. And funnily enough, they do it through trade and diplomacy.
AnAnonymous said:
Made me laugh. Just ridiculous propaganda spreadery of Chinese citizenism.
Observe judiciously the Chinese citizenism trade and diplomacy fruitful now in Tibet, Mongolia, and Nepal. Under firmly examination one understanding receives the official stamp of Chinese citizenism being slavery trade and gunboat diplomacy most heartfelt.
Ah, but Chinese citizenism escapes self indiction by pushing responsibility to exterior onto US citizenism fantasy.
Buy hey, Chinese citizenism will always justify or deny, this is known best.
Man, you got that mangled English patter down pat! :>D
i thought that Iraq is plenty of oil and Afghanistan of rare earth elements..................... but if you say so..............................................
LOL!
Africa is NOT a basket case? What are you smoking?
The common shit huts don't have any plug ins for toasters or other appliances.
Roads? What roads?
The Chinese need to export their crap somewhere. Debt has been GRAND for them. Now we have the debt and the stupidly high marked-up CRAP from China and they have our currencies. Now they're exploiting Africa for the resources. But who is going to buy the CRAP?
Easy. Make massive investments in infrastructure and improve the economies. Then take over the economies.
The key to this of course is to do it with no strings attached, no bullshit politics behind it. China is creating a new market for itself and the US and Europe will be left in the dust. There's also pretty much nothing you can do to stop it.
Lots of gold in Africa. What took them so long?
Also on the plus side lemonade stands are still legal there....talk about massive potential for growth.
Yes, but has anyone else noticed that the world is running out of emerging markets?
What exactly happens when there's no one left to exploit?
(Kaboom!)
We will just have to make some markets emerge from the rubble created by the bombs and missiles.
Then Krugman and his fellow aliens land on planet Earth.
That's referenced in the Bible is it not... the second coming or something?
They move on to the next planet. Ever see "They Live?"
Popo
"What exactly happens when there's no one left to exploit?"
Space.
David Letterman pays good money for such quip!
China wants those natural resources in Africa. Now if only US Banks would stay out of the European Hurricane, wouldn't that be nice....
Acceptance is the first step in recognizing when one is wrong. Now, they are ready to accept the loss on US treasuries and move on.
China has been investing in Africa for a while now. They build an entire state of the art city in Mauritius called "cyber city". They have been buying chunks of mining companies and then using their ownership in those companies as a bargaining chip to get these companies to sell gold directly to them. The way they are going about getting out of their dollar exposure is brilliant.
Also, They have been investing in Latin America. Big wake up moment was the expansion of the china town in San Jose Costa Rica.
Hearing similar stories out of Ecuador and Peru as well, from locals themselves.
Sold one of my products to a buyer in So. Africa who said money is everywhere, luxury cars abound.
<$200k for 5000+sf main home + "in-law" home (larger than my friend's SF condo) is more than a little tempting. Sunrise swim in the Indian Ocean, sunset wine and cheese on the Atlantic.
If you can deal with the culture shock ...
get these companies to sell gold directly to them.
Buying Doré bars to keep off the radar.....sneaky bastards.
Africa... :) ... hard working people... peacefull... well educated... YEP! THE PLACE TO PUT YOUR MONEY TO RETIRE!
Peaceful is NOT going to be the theme for the next few decades, so get ready for it. Security is one Americans' biggest illusion (Insurance and Military complex).
Africa peaceful? When has Africa ever been peaceful? Also wait for the huge water shortage coming, then the fireworks will really go off...
America is way to concerned with it's security.
Look at Europe. You can go about anywhere! About a year ago, a few kids walked into the palace of our king while he was home!
Trust :)
The key is under the mat, beers are in the fridge!
I am tellin ya third world is the place to invest. Lots of potential credit expansion, desparate naive people willing to work their asses off for nothing. It's a rentier's dream
I might be able to fund a nice retirement after all
I was just in Nigeria. If they can figure out how to get rid of the corruption - most of the time funded by Western companies - they can really build something great. The potential is enormous and if it works, would probably calm the sectarian violence. I'm very hopeful, and maybe this time, they'll actually do it.
Corruption is every where. It is just that American politicians are better at it. They use the backdoor "legal" way. Anywhere you see a company getting an "Incentive" there is a corrupt politician making money some how (political and economic support, million dollar consulting job waiting, stock tip, etc). The only difference is that 3rd world countries do it upfront, so at least they level the playing field. Everybody gets to negotiate their grease money upfront, so it is just another cost of doing business. Don't get me wrong. Some places it is really out of control like Mexico comes to mind.
Rule of law has broken down when corruption is legal.
The Chinese play the long game, so they prefer their corruption negotiated up front. That way they can manipulate/work their way around it in the long run.
This was circa 1990, but it happened. I worked where construction executives needed to get building plans checked in a major western US city. One particular guy was from the right coast. Eventually, after several visits, he asks when we visit the back room with his briefcase to, um, "you know...". He expected to deliver the office a load of cash as a bribe to get his building built.
Corruption? What corruption?
Good. Europe's future is with Southwest Asian nations + Russia.
Let the Chimericans continue their endless tug-o-war in slave misery.
Maybe now the Chinese will allow the EUR to drop to where it belongs – parity.
That would be great for all EU exports.
Why the world has any regard for the Chinese and their fudged sets of books is beyond me.
Why we lend any credence to accounting and statistics from a central planning committee is mind boggling. The Chinese have one thing going for them and that is their sheer size in population. Their slave labor economy dumped trillions worth of cheaply made gadgets and machines into the world's market in exchange for Dollars and Euros. The gadgets and machines were built by mostly American and European companies that moved manufacturing into the communist country.
Too late now but it should have been scrutinized much stronger 30 years ago. Alas we have a new class of enemies. Our plantation owners moved production to China. Time to go after the plantation owners - again.
I don't think that China is really interested in Africa. They are just weary of trying to make money by picking up pennies in front of the steam roller. Like all the smart money they know this is pointless, it's time to wait for the crash.
I disagree. I think China desparately covets Africa's resources. I think they already have the necessary infrastructure and legalities in place. I also think they have a strong enough military to protect the infrastructure and enforce the legalities.
I'm actually hoping they go in to take the resources so we can 'fight them over there instead of fighting them here'.
http://www.infowars.com/bill-gates-monsanto-and-eugenics-a-corporate-takeover-of-global-agriculture/
I live in Colombia......Our president was just in China......they want to invest...commodities of course.....
"Santos spoke of China's desire for access to Colombia's natural resources. "Colombia has what China needs." said Santos.
China is currently Colombia's second largest trading partner, closely behind the U.S. Colombia's top exports to China are oil and coal. China uses coal to generate more than half of its electricity.
Last March a Korean energy company made its first Colombian-only coal purchase amid rising Asian demand for Colombian coal."
not just Colombia either..they are big in Trinidad and Tobago...so you can add South America and the Caribbean Islands too...and now they are looking at Argentina to develope their oil and gas fields......they have 2.5 billion people...to feed and heat...and to find jobs for..they want commodities..and food
What i'm affraid of is what happens when the world can't deal with China anymore... those 2,5 billion happy polite people becomes the worlds largest mob... and those f*ckers know Kung-Fu!
http://www.southparkstudios.com/clips/153339/ikes-tv-time
Sell them coke - they are probably off opium by now
In his Bloomberg interview, Balnkfein had a visable boner when he metioned investing in the BRIC"S" et al. Goodbye First World, hello Flat Earth.
Who controls the Great Aquaduct now?
Second Congress of Berlin.....LOL!!!
China and it's slave labor should be shown the door. Long overdue.
STOP SUPPORTING "MADE IN CHINA".
Hardly. China is trying to lock up raw materials and there are more in Africa than in Europe. They still buy up brand names - Lion Capital got $1 billion for a 60% stake in Weetabix last week. China will buy tangibles that's all not paper money.
Who cares ? China will be looking at Import Controls within 18 months as Europe and the US close their markets which is why the Chinese Elites are shifting capital to the West. Exactly as the Russians have been doing.
Anyone who obsesses about China is watching the wrong film
Good luck in extracting the resources at a profit. The Europeans have left a trail of failed commodity extraction ventures for over a century. Any chance of a little culture clash - the tribal oriented Africans will really go for the regimented Chinese work culture.
Let me suggest Chinese investment in Afganistan. Didn't our DOD say there were hundreds of billions of economic ores lying right on the ground? All you need to make a profit is a front-end loader, dump truck, and a private army of 5000 mercenaries.
The difference between the US and China is that China doesn't care who's in power. All China cares about is the ability to conduct business, no strings attached and the locals don't hate them. Money, jobs and power from China.... or bombs and death from the US. Hmmmm, hard choice there!
"Sorry Europe: you had your chance."
Chance for what? To be bought and occupied by China? Good riddance!!!
For the record:
IBM has been offering jobs/moves to South Africa (while they jettison US & European employees). It's not just China.
Loose translation: "@#$% bars in HK, bitchez, we're buying the whole damn mine!"
Yeah, because Africa of all places, is the purview of stability and productivity.
Genital mutilation, genocide, guerrilla ware far, violent and polarized war clans constantly looting and killing, unstable currencies....where do I sign up?
All interesting periods in the American historical experience, but back to discussing Africa...
that is still better than investing in Detroit
There could be gold in them thar 'jects! (mostly in the teefus of a handful of local denizens, but I digress)
Ah....my hometown. I miss Vernors.
You can still find Vernors homeboy. Stroh's, not so much...
I meant the plant where they used to make it though...used to live down the street on Woodward.
And the wars are being fiananced by?
What, you're not circumcised?
What do you call two babies in NY State dead from herpes contracted through legal felatio by Rabbis performing briss?
Americans tend toward the most naive and destructive bigotry.
Right, anyone else think that the Africans might have something to say about this? Besides, has Africa (with some exceptions of course) suddenly become a "stable" place? When did this happen?
I think a country with a billion-strong (slave-)labor force might be able to set up shop...especially if all they need to control is the few clicks around each natural resource site.
It's not like they're looking for Peace in Zaire
Somehow Shell keeps doing biz in the same environs to get that GoGoo.
Fair point. The U.S. has been doing this for years.
Have to look through the lens of wanting to control the commodities as leverage to force changes in the reserve currency regime.
These motherfuckers are playing 3D chess and they've got game; they had empires while we were still painting ourselves blue and getting naked every summer.
You're on fire today, Gmad--You've just grasped the outline of the bigger picture: and the Chinese aren't looking to "help ' the locals--they're looking for MORE REAL ESTATE, and ALL THE PIES. With enough capital investment, guns, and time, Africa could not only do the 'resource goldmine" thing, it could also EXPORT FOOD AND WATER.
Like the late Bruce Lee said: "You don't want to miss all that Heavenly Glory."*
(* translation?Watch the OTHER hand.)
"That's no moon..." - Obi Wan
;)
the problem with europe is they are debating carbon limits and other bs. they have natural resources but jkust like the US they are trying to handicap themselves and not exploit them....rather they will make it harder and harder for their economies to grow. its frighteningly stupid.
Rumor is that when they say sell sell sell their eyes are saying buy buy buy
China should not be investing internationally at all. How much of China is without electricity, indoor plumbing, or paved roads? Their own country is still backward yet they are looking for investment opportunities in the rest of the world? How does that make any sense. There are tons of investments that they could and should be making in their own country for the benefit of their people.
They are not looking for classical "direct investment"...they are putting natural resources on lock-down for the end-game.
CHA-CHING!!
"would you like that in chips or dollars, sir?" "Neither---I'll take mine in GOLD."
Too obvious if you 've been paying atttention to the last 5000 years of their history.
3-D chess FTW.
Lowest. Common. Denominator.
If you can't import slaves to your country (a la slave trade of the centuries past), then go directly to the country and enslave them in their own back yard.
Think Southern Sudan is bad? Think "Cowboys and Indian"s was bad? It's just a matter of time.
You DO realize that what you just described is the last 400 years of Western colonialism, resource exploitation, asset stripping, and genocide in every corner of Africa, right?
Or did that irony kinda escape you?
Nope. That's my point. Meet the new slave owner, same as the old slave owner.
They are both US citizens!
As Confucius say, "US citizenism is nothing more than Chinese citizenism looking in mirror."
China, meet Africom.
This is gonna be good....
Bullish for star-spangled energy weapons in the jungle.If we want a seat at the table, we'd better kit out the Africans capable of resistance, and clue them in on the long-term strategy--becvause if the Chis get a serious foothold there, they WILL be unstoppable-and THEN they'll crush us. Everybody who thinks the continental US is the GOAL is SADLY mistaken. we're the orange cone NEXT to the goal.
The big pile of diamond-coated, molybdenum-encrusted,coltan-studded, platinum-rimmed, GOLD floating on a SEA of(undiscovered) OIL IS the goal: and guess what? most of it is sitting underneath ARABLE LAND. (or land that COULD be made arable utilizing modern farming technology and irrigation... yeah, we've spent the last 100 years missing the POINT.
Europe may be a bust for the Chinese, but their dumping billions into various Carrabean island nations like the Bahamas. In Nassau, a gift of a new soccer staduim and Cable Beach nor the Atlantis will ever be the same after the Chinese complet a 3.2 billion hotel complex known as Baha Ma.
Maybe China wants to have their crap made and shipped from Africa. It's gotta be cheaper and more fulfilling than schlepping boxes of crap across two oceans and continents.
The irony for China is that they will soon discover that investing in the Third World is not unlike investing in China. There is little to no "Rule of Law". Intellectual Piracy is rampant as well as back-door counterfeiting, fraud, corruption, and outright theft. If the people with whom you do business feel backed into a corner they will simply lie, default or nationalize and you will be left with nothing! Despite all its faults, the US is still the gold standard place to invest because we are one of the few countries where Tort law actually exists.
Stability is unneeded to perform US citizen economics.
The Chinese probably know that already when it comes to Africa.
HAHAHAHAHA--you think they're there to RESPECT THE LAW? in ANY WAY? you must be NEW. They're not fucking AMERICANS--They're Chinese. They're there to occupy as MANY squares on the board as they can get away with before WE arrive in force.They also don't have idiots in red-and-blue fucking TIES contesting with each other over what deck chair to sit in while the ship goes down. they're working AS ONE to SEIZE resources and real-estate in as many locations as they can. Full STOP.
THEY ARE NOT PLAYING FROM THE SAME RULEBOOK AS OURS.
and the next great resource grab arena will be all too clear.
______________________________________________
No. It cant be Africa. The great resource grab is already done.
All the resources are already allocated in multi years of US citizen economics plans.
The next arena can only be the former USSR as big poppa commie failed to consume its satellites as efficiently as US citizens. Doing so, it was conserved and protected from US citizens race to depletion of resources.
There is room to expand and grab not already allocated resources.
Places like Africa see their wealth already allocated for decades, probably as long as they meet exhaustion.
You're wrong. this party hasn't even gotten going good yet. The Chis are positioning themselves--and the locals are getting ready to make the best deals they can--not knowing the deals have already been plotted without their participation.
The US will be the only other contender-- for as long as they can keep it hidden from their people.When they announce their position,it will only be after we have committed men and money, and then it will be too late to think about it. AGAIN.
This game will be a long one. I'm gonna go make some popcorn.
A new life awaits you in the Third-World. The chance to begin again in a golden land of opportunity and adventure.
Yep:That's how they'll sell it. You're from the FUTURE, aren't you?
Will there be spandex jackets, one for every one?
This is old news, TPTB ceeded Africa to China in exchange for the Middle east years ago when TPTB agreed to abolish property rights of white people on the African continent.
This is the reason China has a "hands off" military policy for the broke western nations looting oil in the Middle East, its the same reason we have a "hands off" policy for the Chinese looting Africa.
What we have is a statist gentleman's agreement to not compete in Africa and the Middle East, China benefits from our middle East policy by buying their oil in their US trade surplus dollars of $50B a month.
Our trade surplus with China gives them 50B a month in free cash and we get to keep printing cash and having it accepted for oil.
Excellent point! But how does russia fit into the equation?
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