Emerging powers news
Latest edition: emerging powers news roundup
2011-12-04, Issue 560
In this week's edition of the Emerging Powers News Round-Up, read a comprehensive list of news stories and opinion pieces related to China, India and other emerging powers...
At South Africa climate meet, India fights for right to grow
For India, the battle on Kyoto Protocol at the Durban climate talks beginning on Monday boils down to ensuring the global community does not impose an unjust tax on its energy and growth. At the two-week long talks between 195 countries, the fate of Kyoto Protocol - already on a lifeline - will decide if India's citizens end up paying an unfairly higher price for energy, oil, gas, coal and renewables in the near future. It will also decide how much longer it might take for 4 million Indians living without power to see bulbs light up their villages
India, China urged to change stand at climate summit
A group of analysts and activists are urging emerging nations like India and China to change their stance at the U.N. climate summit that begins in Durban on Monday and be willing to consider binding commitments under a future climate regime. They also accused the Indian elite of “hiding behind the low carbon emissions of the poor.”
China calls for second commitment of Kyoto Protocol
The UN climate conference currently under way in Durban, South Africa, should clearly establish the second commitment period under the Kyoto Protocol, the Chinese delegation said here on Monday. The second commitment should ensure that developed country parties to the Kyoto Protocol "should undertake quantified emission reduction commitments," said Wei Su, deputy head of the Chinese delegation attending the COP 17, formally the 17th Conference of Parties to the United Nations' Framework Convention on Climate Change (UNFCCC).
EU terms for Kyoto extension unfair: Chinese negotiator
The European Union's conditions to sign up for a second commitment period of the Kyoto Protocol are "not fair" for developing countries, but China is open to negotiation, Su Wei, the nation's leading climate negotiator, said on Wednesday.
Brazil says BRICS offer conditional help to Europe
Major emerging economies will offer cash to help resolve Europe's debt crisis so long as they gain influence at the IMF and Europe does more to address its own problems, Brazil's economy chief said on Thursday. European leaders are scrambling for a definitive end to a spreading debt crisis that is dragging down global growth and could even spell the end of the 17-nation euro zone.
2. China in Africa
China-Africa trade volume reaches $122.2b first three quarters of 2011
The volume of trade between China and Africa has reached $122.2 billion during the first three quarters of 2011, the China Daily reports citing officials of China’s Ministry of Commerce. Shen Danyang, spokesman for the Ministry of Commerce, said at a press conference that the trade between the country and the continent rose 30% year-on-year to reach $122.2 billion during the first three quarters of 2011 as compared with the $126.9 billion recorded last year (2010).
China, EAC in new $500m trade, investment deal
China has entered into an agreement with the East African Community on economy, trade, investment and technical co-operation. Officials said the parties, led by EAC Secretary General Richard Sezibera and China Vice Minister for Commerce Jiang Yaoping, discussed priority projects in infrastructure worth over $500 million.
China expected to have investments in Africa private equity funds
China is seen as a latecomer in investing in Africa through the private equity funds, a strategy successfully used by sovereign wealth funds of countries like France and Germany that enables them to benefit from diversified investment returns in the continent. Managing Director of Institutional Fundraising at the Citadel Capital Stephen Murphy said it is time Chinese investors dipped their money in private equity funds in Africa to give them additional investment leverage in private sector in addition to the public sector contracts. "Investing in regional private equity funds will help the Chinese have a wider coverage of opportunities in the continent and generate more profits from the continent's high returns," said Murphy in Nairobi on Monday.
Industrial sector is main target of Chinese investment in Mozambique
China’s presence in the Mozambican economy has been on the increase and the Mozambican industrial sector is the main target of investments according to an analysis by Mozambique’s institute for Social and Economic Studies (IESE).
Ethiopia benefits from China's tariff policy
China-Africa Overseas Leather Factory in Ethiopia said on Sunday it is significantly benefited from the tariff-free policy of China for least developed countries (LDCs) that are exporting to China. "This policy helps us a lot because all of our products are for exporting. So it helps us to enter the international market and be competitive. Not only for us, it also encourages other investors to come to Ethiopia and invest here because they will be benefited a lot from this policy," said Yaecob Tadesse, the administrative manager of the company, which is situated in Sululta town, some 30 km north of Addis Ababa, capital of Ethiopia.
30 Journalists Leave for China
Thirty journalists from different local media houses will tomorrow leave for China to attend a 20-day training seminar organised under the Forum on China-Africa Co-operation. Addressing the journalists at the Chinese Embassy in Harare yesterday, Chinese Ambassador to Zimbabwe Mr Xin Shunkang said the seminar would present them with an opportunity to understand the political, economic, cultural and social development processes of China.
Help rebuild Africa China relationship, urges KK
FIRST Republican president Kenneth Kaunda has urged African diplomats accredited to China to help rebuild Africa-China relations. Dr Kaunda said here that China was an important partner in the development of the African continent. He said this at Diayutai State Guest House yesterday when he met Southern African Development Community (SADC) and other African diplomats accredited to China. Dr Kaunda said it was important for African diplomats to understand the role China could play in national development.
Donors need cooperative ties with China on Africa: Blair
The world's major donor nations and organizations need to build a cooperative relationship with China to promote development aid in Africa, the continent most dependent on global assistance, former British Prime Minister Tony Blair said Tuesday. "It's important that we are trying to get the right cooperation partnership with China in Africa," Blair told reporters on the sidelines of a global forum on ways to make aid work better and more transparent.
Botswana, China vow deeper cooperation in education, science, culture
Botswana Vice President Mompati Merafhe met with visiting Chinese State Councilor Liu Yandong here on Thursday, with both sides vowing to expand exchanges in the fields of education, science and culture. In their meeting at the Office of the President, Liu said the past 36 years have witnessed the healthy development in political and economic relations between the two countries, and that Botswana has already become one of China's important economic partner in Africa.
New AU headquarters passes initial inspection
Construction of the new headquarters of the African Union (AU) in Addis Ababa, capital city of Ethiopia, was recently completed and the structure has passed an internal quality inspection, said Zeng Huacheng, a special councilor to the AU headquarters project from China's Ministry of Commerce.
3. India in Africa
India Inc looks to invest overseas
What started as a buzz in corporate boardrooms is gathering momentum as India Inc, seized of policy and operational bottlenecks in setting up projects in India, is now looking to invest abroad in a big way. The investments are no longer chasing just stressed assets in the US and Europe or for that matter mining resources in Australia but is now focused on greenfield plants around a larger geography encompassing the middle east, Africa, and south east Asia.
50 million Africans dial Airtel
The implementation of India’s low-cost telecom model in the African market seems to have paid dividends for the country’s largest company in the sector, Bharti Airtel, with the company crossing 50 million subscribers in mobile operations. Bharti acquired Zain’s assets in 16 African countries in June 2010, with a subscriber base of 42 million, brought down to an active user base of 36 mn. In these 17 months, it has got 14 million users, on the back of low and innovative rate plans, it said. It has 173 million subscribers in the Indian market.
4. In Other Emerging Powers News
China and India to join aid partnership on new terms
China and India have agreed to join a global partnership on aid effectiveness but on vague terms that cast doubt on their willingness to stick by principles set by traditional donors. After negotiations that went late into Thursday night, the key parties signed off on a final outcome document that bridged what seemed to be irreconcilable approaches between emerging donors and traditional aid givers from the Organisation of Economic Co-operation and Development (OECD).
Brazil wants to consolidate development partnership with Angola
Brazil’s minister for Development, Industry and Foreign Trade, Fernando Pimentel said Wednesday in Luanda that his country wanted to remain an active partner in Angola’s development in particular and Africa in general.
SA, Brazil discuss reduced dollar role in bilateral trade
A delegation from South Africa’s State-owned Development Bank of Southern Africa has arrived in Brasília to hold talks with the Brazilian National Bank for Social and Economic Development about the possibility of financing trade between the two countries using their respective local currencies, the rand and real, instead of the dollar or euro.
BRICS forum opens in S. China to promote city-to-city ties
The first BRICS Friendship Cities and Local Governments Cooperation Forum opened Friday in the beach-side resort of Sanya, focusing on deepening cooperation between the world's five major emerging economies. Politicians, scholars and business people from the five BRICS countries -- Brazil, Russia, India, China and South Africa -- will meet at the two-day forum to foster communication and discuss shared concerns amid global uncertainties.