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China denies charges of gouging Africa for natural resources
2007-03-12
China's commerce minister said Monday that Beijing was not scheming to milk Africa of its bountiful oil and other natural resources through unequal trade with the continent. "Africa used to have their resources taken away cheaply ... but China is doing some quite normal and reasonable business with Africa at reasonable market prices," Bo Xilai told a press conference, apparently referring to Africa's colonised past. Bo was responding to criticism that China only wants to get the resources it needs from Africa while allegedly burdening the continent's nations with unnecessary debt. "Statistics showed that oil exported to China accounted for 8.7 percent of total oil exports from Africa last year but oil exports to the Europe and the US made up 36 percent and 33 percent (of the total) respectively." "If imports of 8.7 percent is suspected pillage, how should 36 percent and 33 percent be viewed?" Bo said. Earlier this year, China's president Hu Jintao carried out a 12-day tour of eight African nations in his third visit to the continent since he took office in 2003. On each stop in Africa Hu announced preferential loans and grants, as well as signing deals to boost trade. Sino-African trade reached 55.5 billion dollars last year, according to official Chinese figures. At a historic summit in November last year that brought leaders from 48 African nations to Beijing, China pledged to double its aid to the continent and to offer five billion dollars in loans and credits by 2009.
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