Chinese Seek Fortune in Africa

To satisfy country's thirst for oil, emigrants strike it rich out west
By Wesley Oliver,  Newser Staff
Posted Aug 17, 2007 3:22 PM CDT
Chinese Seek Fortune in Africa
A Chinese construction worker supervise the building of a road, Thursday, April 26, 2007 in the Ethiopian capital, Addis Ababa. China said Thursday that a deadly attack in Ethiopia that killed 74 people, including nine Chinese, will not stop it from investing in Africa, but added it planned to boost...   (Associated Press)

A growing number of poor Chinese are flocking to Africa, hoping to cash in on the destitute continent’s infinite growth potential. China is building factories in eastern Africa, and trade between the two burgeoning economies ballooned to $55 billion last year. The eastern entrepreneurs are diving into every sector of the African market—from diamonds to ice cream—but oil is particularly piquing their interest.

The Chinese, inspired by a homeland thirsty for resources, are engaged in various projects throughout the continent, including building roads, railroads, health care clinics, and airports. But many Africans are greeting them warily, concerned that they're planning to take over local businesses and cut jobs. (More China stories.)

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