1 / 21

China in the Global Economy: The U.S. and African Connections Shiping Zheng 郑世平

China in the Global Economy: The U.S. and African Connections Shiping Zheng 郑世平 Bentley University November 18, 2008. Globalization: Then and Now. “Sleeping Giant” No More. "Let China sleep, for when she wakes the world will shake.” -- Napoleon Bonaparte (1805).

jace
Download Presentation

China in the Global Economy: The U.S. and African Connections Shiping Zheng 郑世平

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. China in the Global Economy: The U.S. and African Connections Shiping Zheng 郑世平 Bentley University November 18, 2008

  2. Globalization: Then and Now

  3. “Sleeping Giant” No More "Let China sleep, for when she wakes the world will shake.” -- Napoleon Bonaparte (1805)

  4. World Output: 1820-1950 Country 1820 1950 ------------------------------------------------------------------------------ China 30% 5% India 16% 4% European Big Four 17% 19% USA 2% 27%

  5. Chinese Economy: Pre-Reform Years • Pre-1949: Traditional Agrarian Economy with Limited Industry • 1949-1957: Following the Soviet Model of Command Economy • 1958-1960: The Great Leap Forward Movement • 1961-1964: Post-GLF Economic Adjustment • 1965-1976: The Cultural Revolution and Self-Reliance

  6. Post-Mao Chinese Reforms • 1978-1984: ` Rural Reforms • 1985-1989: Urban Reforms • 1992-1999: Market Reforms • 2001-- WTO-Led Reforms

  7. Rise, Fall and Reemergence of China

  8. World’s Largest Economies https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html

  9. Millionaire Households: The Top 5 Countries Country Millionaire Households Change (05/06) ------------------------------------------------------------------------------- United States 4,585,000 10% Japan 830,000 6% Britain 610,000 30% Germany 350,000 21% China 310,000 39% Source: Businessweek, 10/22/2007

  10. Top 10 Economies in the World2005

  11. Key Components of China’s Development Strategies Special Economic Zones Export-led and FDI-driven Manufacturing-centered State as the “visible hand” Heavy investment by the state in infrastructure and agriculture High national and individual saving rate

  12. China’s Investment in Africa • China’s direct investment in Africa grew from $491 million in 2003 to 11.7 billion in 2006 • In October 2007, China’s Industrial and Commercial Bank of China purchased 20% stake in South Africa’s Standard Bank • China made a $9 billion loan and investment package for Congo that will be repaid in cobalt and copper from Congolese mines.

  13. China’s Trade with Africa • China-Africa trade has increased since the start of a new era of cooperation that began with 2000’s China-Africa Forum. • The bilateral trade between China and the African continent grew from $10 billion in 2000 to $70 billion in 2007, making China the second largest trading partner of Africa. • The U.S. trade with Africa $71.3 billion • France’s trade with Africa $30 billion • Germany’s trade with Africa $23 billion

  14. China’s Oil Needs and Africa’s Oil Reserves • Once the largest oil exporter in Asia, China became a net importer of oil in 1993. • In 2003, China overtook Japan to become the world’s second-biggest consumer of petroleum products after the U.S. • Africa holds a fraction of the world’s proven oil reserves – 9% compared to the Middle East’s 62%, but industry analysts believe it could hold significant undiscovered reserves.

  15. China’s Oil Imports from Africa • China currently imports about half of its oil supplies from the Middle East and about one-third of its oil imports from Africa. • In 2006, China received 9% of the Africa’s total oil exports • By contrast, the U.S. purchased 33% of that year’s oil exports from Africa.

More Related