'African assets were undervalued and China's presence has helped correct that, whether in bonds or foreign direct investment', said Victor Lopes, Africa Economist at Standard Chartered Bank. Multinationals from the BRICs - emerging nations Brazil, Russia, India and, above all, China - have led the increase in foreign direct investment from US$10 billion a year in the decade up to 2003 to $121 bn. by 2008, particularly in Africa.
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