Word: africas
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...Mixed Blessings When China began its global investment push in the early part of this century, the flood of new money was welcomed, particularly in those parts of Asia, Africa and Latin America that felt abandoned by the West. China's promise not to politicize aid and investment by attaching pesky conditions like improved human rights pleased many governments. Between 2003 and 2008, Chinese direct investment overseas skyrocketed - rising from $75 million to $5.5 billion in Africa, 1 billion to $3.7 billion in Latin America and jumping from $1.5 billion to $43.5 billion in Asia. The People's Republic...
...many of the countries where China has made its biggest business forays, such democratic dissent is squelched by repressive governments that are taking the lion's share of any investment profits. Still, tensions can bubble up in surprising ways. In July, an al-Qaeda wing in North Africa vowed to target Chinese immigrants living there as revenge for the recent ethnic strife in China's largely Muslim Xinjiang region. The next month, riots against Chinese traders broke out in the Algerian capital Algiers, where residents accused the foreigners of failing to respect Islam. Last year, nine Chinese oil workers living...
...Still, for all the controversy surrounding the influx of Chinese money in Africa, Latin America and Asia, the truth is that the vast majority of Chinese working abroad aren't going to go home rich. Driving up to the Ramu mine site, I stopped the car at an incongruous sight: against a backdrop of rain forest, a lone Chinese man perched on a piece of cardboard overseeing a crew of local workers struggling in the sun to sheath a pipeline with insulation tape. There was a feudal tinge to the scene, but the life of Chen Ming, the Sichuan-born...
...barrel - nearly double the government offer - because of the risks involved. Operating in Iraq means investing billions in an unstable country where foreign oil workers are routinely kidnapped and insurgents have blown hundreds of holes in pipelines. Rochdi Younsi, until last month the director of Middle East and Africa for the Eurasia Group in Washington, told TIME that the auction was "a fiasco and embarrassment," saying that the government "thought oil companies would do absolutely anything to get into Iraq...
...dwindle in places like the North Sea and Gabon, companies are desperate to book new reserves - and Iraq, which unlike Kuwait or Saudi Arabia is incapable of producing its oil without foreign know-how and investment, is up for grabs. Unlike huge new finds off Mexico, Brazil and West Africa, many Iraqi fields were mapped years ago - some by the same companies now negotiating new contracts - and so will not require lengthy exploration before pumping can begin...