- 24 May 2011 12:31
#13716986
Russia is a vast country that is exceptionally rich in mineral resources. Therefore, a fairly commonly held view is that prospecting for minerals outside Russia, for example, in Africa, is not a sensible proposition. Does this viewpoint reflect the way things really stand?
The future output’s cost of production may be crucially important for an emerging market economy. The projected oil reserves on the Arctic Ocean shelf may be as vast as those in the Saudi Arabia. However, it costs only $4 to $6 to produce a barrel of oil in the Persian Gulf. How much will it cost to produce oil lying beneath the ice? What if we find – we may have done so already – some rare metal in the tundra thousands of miles away from the civilisation? What kind of costs will be involved in its production?
Chinese presence in Africa has many faces and includes the provision of grants and loans; rail and highway construction; construction of power plants, housing construction, shopping malls, schools, and hospitals; arms supplies; tens of thousands of Africans studying in China; regular summits and mutual visits at the highest government level. There are more Chinese restaurants than McDonald’s in Africa. Many African states are celebrating their 50th anniversary of independence these days. The Chinese have invested $100 million in building the African Union’s headquarters in Addis Ababa, Ethiopia, and are completing the construction quickly. The buildings of foreign ministries and parliaments in many African countries came as a gift from China. Roads, bridges and airfields are usually built on credit. In exchange, China gets access to the African riches. The Africans don’t mind, although the negotiations are not always perfectly smooth.
Full version of the article was published on valdaiclub.com
The future output’s cost of production may be crucially important for an emerging market economy. The projected oil reserves on the Arctic Ocean shelf may be as vast as those in the Saudi Arabia. However, it costs only $4 to $6 to produce a barrel of oil in the Persian Gulf. How much will it cost to produce oil lying beneath the ice? What if we find – we may have done so already – some rare metal in the tundra thousands of miles away from the civilisation? What kind of costs will be involved in its production?
Chinese presence in Africa has many faces and includes the provision of grants and loans; rail and highway construction; construction of power plants, housing construction, shopping malls, schools, and hospitals; arms supplies; tens of thousands of Africans studying in China; regular summits and mutual visits at the highest government level. There are more Chinese restaurants than McDonald’s in Africa. Many African states are celebrating their 50th anniversary of independence these days. The Chinese have invested $100 million in building the African Union’s headquarters in Addis Ababa, Ethiopia, and are completing the construction quickly. The buildings of foreign ministries and parliaments in many African countries came as a gift from China. Roads, bridges and airfields are usually built on credit. In exchange, China gets access to the African riches. The Africans don’t mind, although the negotiations are not always perfectly smooth.
Full version of the article was published on valdaiclub.com
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