Word: oiling
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Dates: during 2000-2009
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...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 rolled out the red carpet for 17 African heads of state, we assumed it was all about gaining access to oil and minerals to fuel China's awesome economic growth. But there is much more going on than a meet, greet and grab from the African continent. China has big economic plans and ambitions in Africa that go beyond oil and minerals. While much of the world still views Africa...
...would like to let on: Africa is inscrutable, wild, primitive and decades away from genuine modernization. Like the European businessmen in Conrad's 1902 novel, we assume Africa's only assets come from the land or beneath it. In the Heart of Darkness it was ivory. Now it is oil and minerals...
...credits to Chinese state-owned companies seeking to build a base in Africa. Incentives are given to Chinese manufacturing and retail businesses in addition to exploration and construction companies. In return for so-called "no-strings-attached" aid and cheap loans to African countries, Beijing expects privileged access to oil and resources, political support in institutions like the U.N., and African governments - be they good, bad or despotic - to give Chinese companies the first opportunities to reach local consumer markets...
...mean a country is more economically successful, Fitoussi, who joined the discussion through a video conference call, said that socially harmful activities can also lead to an artificial increase in a country’s GDP. For example, he said an increase in road traffic would drive up oil consumption and lead to larger GDP numbers that “obviously misrepresents the social wellbeing...
...inflation has decreased to single digit percentages, residents of East Tehran expressed to TIME their concern about rising bread prices and the possible removal of energy subsidies by the government in the coming year. As in the rest of the world, Iran's economy has slowed down from its oil-fueled overheated state just two years ago. The government, however, has yet to explain to most people if any economic good will come via a nuclear agreement...