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Top-level meetings between China's leaders and their African counterparts have been occurring at the frequency of at least one every month. What is Beijing up to? When China declared 2006 to be the "Year of Africa," hosted 48 African nations at the annual 2006 China-Africa summit and...

Author: /time Magazine | Title: China Woos Africa — And Not Just For Its Resources | 11/16/2009 | See Source »

But China has caught on to something that eludes most governments and companies in the West. Chinese state-owned and private enterprises believe African consumers could be the great untapped gold mine. Beijing's engagement with African leaders and governments is increasingly about ensuring that Chinese firms are best placed...

Author: /time Magazine | Title: China Woos Africa — And Not Just For Its Resources | 11/16/2009 | See Source »

Vijay Mahajan, author of Africa Rising, says there are 50 million to 150 million economic élites in Africa with similar spending power to middle classes in the West. More importantly, there are 350 million to 500 million people in the African aspirational classes - from households with stable jobs - that...

Author: /time Magazine | Title: China Woos Africa — And Not Just For Its Resources | 11/16/2009 | See Source »

There are weaknesses to Beijing's great plan. For example, cheap Chinese goods flooding the continent sacrifice African jobs, sparking a backlash against the Chinese presence. Corruption is serious, institutions are weak and political risk in various African countries remains high, meaning the possibility of social and economic breakdown is...

Author: /time Magazine | Title: China Woos Africa — And Not Just For Its Resources | 11/16/2009 | See Source »

As U.S. President Barack Obama touched down in China on Sunday, his visit marked a pivotal moment in the two countries' relationship. While the U.S. and China once met to discuss topics of mutual importance, their talks are now occupied with issues of significance to the entire planet. From North...

Author: /time Magazine | Title: Five Things the U.S. and China Actually Agree On | 11/16/2009 | See Source »

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