1. Africa
2. Economic development
3. Natural resources
3.1. Dutch disease
4. sustainability
5. Risks
5.1. Economic Risks
5.1.1. developments in raw material prices
5.1.2. Economic policies in African countries
5.2. Reputational risks
6. China
7. Importance of Africa for China
7.1. Trade
7.1.1. specially kobalt, wood and iron and oil
7.1.2. Africa needs china much harder
7.1.3. getting more important
7.2. Financial transaction
7.2.1. statistics not very sure, guestimates
7.2.2. China does not give much aid in cash. Less than usa, france, germany
7.2.3. non-concensional loan are increasing and china is biggest financer of Africa
7.2.3.1. 10 procent goes to natural resource extraction
7.2.3.2. Mainly financing infrastructurial projects that meets the countries broader needs
7.2.4. complementory of financing
7.2.4.1. Focus on production orientated infrastucture rather than social infrastructure
7.2.5. Private flow
7.2.5.1. even harder to estimate, lots of trade goes through offshore terrotories like singapor and cayman ilsand
7.2.5.1.1. New node
7.2.5.2. FDI is relatively low compared to other countries, but picking up. official numbers might be heavily underestimated
7.2.5.2.1. largely in Natural resource extraction
7.2.5.2.2. telecommunication, banking and contruction picking up
7.2.5.2.3. South Africa, Nigeria, Zambia, Sudan, Algeria
7.2.5.2.4. New node
8. Chinese African policy
8.1. Aid to most african countries rather than focus on a few smaller groups
8.1.1. withouth economic policy change
8.1.2. only requirement is '' one china policy''
8.2. Financing focuse on infrastructure projects
8.2.1. Package deal, experise. And quick implementation. Very attractive
8.3. part of export credit = infrastructure for natural resources
8.3.1. rather complex, because coordination between all parties
8.4. 5 principles of peacefull coexistance
8.4.1. Forum for china and arica corporation
8.4.1.1. each 3 years
8.4.1.2. 49 countries and china
8.4.2. Finance projects with expected economic return with less concessional loans or even commercial ones
8.5. relation between governemnt, FI and state enterprise is very close. so fast coordination
8.5.1. rol of private firms are growing
8.5.1.1. Government has less controle over this
8.6. much more trust due to no colonization past
8.7. China shares and exports own experience with development
8.7.1. financial incentives rather than grants and aids
8.7.2. infrastructural boost
8.7.3. Special economi zones
9. list of
9.1. http://www.cdc-crdb.gov.kh/cdc/development_coor/annix2.htm
10. Macroeconomic considerations for allocating assitance to Africa
10.1. Chinese rol cannot me be ignored due to increasing scale
10.1.1. Dutch disease
10.1.1.1. explanation
10.1.1.1.1. external financing scale up
10.1.1.2. chinese case
10.1.1.2.1. China mitigates the dutch disease effect through import of chinese laborers, services and goods
10.1.1.2.2. if chinese financing is associated with large component of domestic goods and services
10.1.2. Public expenditure management systems
10.1.2.1. chinese projects so big that risk of overwelming local public investment plans
10.1.2.2. many African countries have bad PEMs
10.1.2.3. China has had unique experience in scaling up infrastructure investment
10.1.2.3.1. Africa can learn allot from this
10.1.3. Debt sustainability
10.1.3.1. biggest concern
10.1.3.2. sub sahara africa had big issues with debt
10.1.3.3. little concern for china, since write off would be small relative to external reserves
10.1.3.3.1. could lead to serious problems for africa
10.1.3.4. china focusses on profitability rather than macroeconomic consequences.
10.1.3.4.1. according to Eximbank, the DSF of imf and WB too static
10.1.3.5. China backs loans with natural recources due to high risk financing
10.1.3.5.1. dangers of these are
10.1.4. Governance
10.1.4.1. extraction of natural resources has often been associated with lack of trnasparancy
10.1.4.1.1. responsibility of recipient government
10.1.4.1.2. extractor has also responsibility of good conduction
10.1.4.2. China does
10.2. New node
10.3. Africa is not homogeneous
10.4. It is in china's interest when projects are sustainable
11. Researsch proposal
11.1. Debt sustainability framework of IMF and the world bank is considered by china too static. Should a project that is projected to generate adequate economic return go ahead even if other elements i nthe conomy are not doing well?
11.2. In Which wat way does the Chinese approach toward africa difers from classical players?
11.3. How can the chinese investment in natural resources in Africa lead to sustainable economic growth to the continent ?
12. China's Economic motives to be active in Africa
12.1. introduction + research proposal
12.1.1. growth rate+ investment in Africa
12.1.2. Various reasons
12.1.3. New node
12.2. How is Chinese Financing and investment done?
12.2.1. What institutions are there ?
12.2.1.1. Government vs private
12.3. Theoretical motives of china
12.3.1. natural resources to stimulate it's own growth
12.3.1.1. Oil
12.3.1.1.1. middle east, diversifying risks
12.3.1.2. copper, cobalt, coal, ferrochrome, bauxite, manganese, niobium, project in uranium
12.3.2. reinforcing it's own position on rare resources
12.3.3. development aid
12.3.4. Market seeking
12.3.4.1. selling chinese goods
12.3.5. infrastructural works may be a source of labor for young chinese employees