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Published 1st March 2009

Vol 2 (AAC) No 5


The sun also rises

Image courtesy of Panos Pictures
Image courtesy of Panos Pictures

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China's plummeting exports are worse than many economists had expected but the country's slowdown does not necessarily spell doom for Africa

Africa and China escaped the worst direct effects of the global slowdown last year, Africa because its banks were not integrated into international credit markets, and China because its banks were barred from investing in the complex financial products that wrecked several Western banks. But the second and third waves of the slowdown have been breaking on the shores of the African and Chinese economies ­ and wreaking havoc.


Bank East

Mugabe's multi-million dollar property in Hong Kong is just one part of growing financial links between Zimbabwe's ruling clique and Asia

Asia is an attractive destination for the property and financial portfolios of the senior cadres of the Zimbabwe African National Union-Patriotic Front. It is extremely profitable,...


Missing the target

Economic and political troubles at home mean that Japan is having difficulty following through on its pledges to Africa

The man who was Japanese Prime Minister in 2007-08, Yasuo Fukuda, was in Botswana on 21-22 March for the follow-up meeting of the Tokyo International Conference on African Developm...


A target of the revolution

After the Madagascar imbroglio, South Korean and Indian companies are trying new tactics

Almost as soon as he seized power on 18 March, putchiste President Andry Rajoelina cancelled a proposed contract to lease over a million hectares of land to South Korea's Daewoo ...


Banking on secrecy

Finance ministers will come under heavy pressure at the G-20 meeting on 2 April in London to crack down on tax havens and the banking secrecy regimes that have facilitated so much ...


A 'challenge and a big stress'

Before China, there was Japan, say Kenyans. The Japanese aid model is built largely around supplying technical expertise rather than direct budget support. Japanese experts in a...


Seoul's safety in numbers

On top of the Madagascar saga, South Korea's loss of oil acreage in Nigeria in February is the biggest of several setbacks for Korean companies in Africa in recent months (AAC V...


Business is politics

The ICC's issuing of the arrest warrant for the Sudanese President exposes the contradictions in China's 'business is business' policy

The arrest warrant for Sudanese President Omer Hassan Ahmed el Beshir issued by the International Criminal Court on 4 March comprehensively overshadowed the golden jubilee of Chin...


When Irish eyes are smiling

Ireland's Tullow, which has quickly outgrown out its minnow status, enters April stronger, having raised US$2 billion in debt financing and energetically dismissing speculation th...



Pointers

Victoria Kwakwa

World Bank Country Director for Vietnam

Ghanaian economist Victoria Kwakwa starts her job as World Bank Country Director for Vietnam in April. It is an important posting, given Vietnam's economic record over the past th...


Alphonsus Chia Chung Mun

Chief Executive Officer, Singapore Cooperation Enterprise (SCE)

Rwandan President Paul Kagame has secured Singapore's interest in Rwanda's future. Singapore Cooperation Enterprise's Chief Executive Officer, Alphonsus Chia, was in Kigali in F...


Shantayanan Devarajan

Chief Economist, Africa Region, World Bank

The effects of the global slowdown on African economies have been generally overlooked. The World Bank has responded with its advocacy of more regional integration and infrastruc...


Yukiya Amano and Abdul Samad Minty

International Atomic Energy Agency Governors, Japan and South Africa

The International Atomic Energy Agency is to decide on a successor to Egypt's Mohamed ElBaradei as Director-General on 26-27 March. Two IAEA Governors, strong>Yukiya Amano and Ab...