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Media frenzy over Angola’s Chinese-built ‘ghost town’

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“In Luanda rental prices beat records, and over there a house may cost more than US$20,000 per month,” said Mercer’s Marie-Laurence Sépède in a statement last year.

China’s economic presence in Angola

It is no secret that China has a significant economic presence in Angola. The term ‘neo-colonialism’ has been used and implies that Chinese investment in infrastructure and development comes with deals to exploit Angola’s resources.

Yan Lan, head of Greater China Investment Banking, said at last month’s New York Forum Africa, which took place in Libreville, that, “Africa needs money, needs financing, needs technology and also needs Chinese companies’ experience for their own industrialisation.”

Despite being mineral-rich, Angola is still struggling from the effects of a civil war that came to an end in 2002. For nearly 30 years Angola fell behind in its development, affecting local industry and agricultural production, as well as damaging basic infrastructure. Now, 10 years later, the country is beginning to find its feet, but Angola needs to develop its infrastructure and Chinese investment has been doing just that.

However, while Angola needs China, China also needs Angola. Angola is China’s largest source of oil in Africa.

“China and Africa are mutually needed partners,” said Lan.

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  • John X

    I have a great idea for this city!
    The UN should purchase it, and relocate the entire group of “Palestinians” there. This would finally bring peace to Israel, and provide a place for the Palestinians to live.

    • Alloptionsonthetable

      Hey Johnny, steal land much? I’m sure most Africans, and definitely the people being pushed off the land to make way for this wasted investment would sympathize with Palestinians dispossessed of their Palestinian land by Israeli land grabs. You call this a solution to peace in Israel?? Tell that to Netenyoohoo’s short-lived “unity” government and how it reveals the forces undermining Israeli democracy. I know you’re not Israeli, as they are the most gifted intelligent people on the planet and wouldn’t propose something so well, simple minded and dumb. But you sure are a zionist wanker. Get ready for the one state of Palestien… or Israelistine…how about Israelistinia?