Wednesday, April 06, 2011

Expropriation risk... I have detailed on this blog on numerous ocassions, the chief export of the United States is law and order (usually obtained by power, whether soft or hard)

I have also maintained that China would be unable to hold its newly aquired land and associated massive capital investment plans in Africa. Of course, these projects could be failsafe emigration points should China become unstable...but time is running out.

And so it goes. In the relatively calm supra-saharan portion of the continent. (source unknown at present, was forwarded by trusted colleague.)

THE unrest in Libya has cost Chinese companies dearly beyond the rising price of oil.

More than 30,000 Chinese workers were working in the north African country on infrastructure construction projects such as railways and telecoms before they had to evacuate.

At least 27 Chinese construction projects had suffered directly from attacks even before NATO air strikes occurred, according to the Ministry of Commerce.

More than 50 projects by 75 state-owned Chinese companies in Libya have been suspended due to the uprising that has pitted rebel forces against the army of Moammar Gadhafi.

Among those are four listed companies: China Railway Construction Corp, China Gezhouba Group Co, Metallurgical Corp of China and China State Construction Engineering Corp, the ministry said.

The value of projects in Libya is estimated at US$18.8 billion, according to Commerce Minister Chen Deming.

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