THE BIG GAME: CHINA AND THE UNITED STATES IN THE AFRICAN COMMODITY MARKETS
Keywords: China and the United States in Africa, oil exports, trade T. L. DEITCH Candidate of Historical Sciences In recent years, there has been a surge of international interest in Africa, which until recently was called the "forgotten continent". The world's leading countries are re-evaluating this continent, which is a source of much-needed minerals and energy resources. Not the last factor that spurs interest in Africa is the unprecedented economic expansion of emerging powers, primarily China and India, into its countries. In the 2000s, China became the main "player" in the African commodity markets, which entered into fierce competition with the United States and EU countries for African mineral resources. "NEW PLAYERS" ARE CROWDING OUT THE "OLD ONES" The growing dependence of the US economy on raw materials supplies has led to a surge in US interest in Africa. Instability in the Middle East increases the US interest in finding alternative sources of liquid hydrocarbons, including in the oil and gas-bearing areas of the Gulf of Guinea. Back in 2002, US Assistant Secretary of State for Africa W. Kansteiner stated: "West African oil has become our national interest"1. According to US plans, by 2015, one in four barrels of imported oil will be of African origin. In 2008, US imports of African oil increased by 31.9% compared to 2007, while oil accounted for 79.5% of all US imports from sub-Saharan Africa. In an effort to expand and strengthen their position in the commodity markets of Africa, Americans are faced in the new millennium with the growing presence of China. The main object of Chinese interests is energy resources. China's domestic oil reserves and production have long been insufficient for rapid economic growth. China's crude oil imports increased from 3 million metric tons in 1990 to 123 million in 2005, a 40-fold increase.2 In 2008, it imported almost 180 million tons of oil, or 3.6 million barrels per day (b/d).3 In 2020, it is expected to import 7 ... Read more
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Eesti Online · 216 days ago 0 53
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Eesti Online
Tallinn, Estonia
02.08.2023 (216 days ago)
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