T. 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". One of the reasons is the impressive economic growth of the continent's countries, which exceeded 6% in 2007. The world seems to be re-evaluating Africa-a storehouse of natural resources, which provides 92% of the world's needs for platinum, 70% for diamonds, and is a source of much-needed minerals and energy resources for many countries.

Not the last factor that spurs interest in Africa is the unprecedented economic expansion of emerging powers, primarily China and India, to the continent. According to the World Bank's "African Silk Road: A New Economic Frontier between China and India" study, Asia accounted for 27% of African exports in 2006, three times more than in 1990. African exports have made Asia Africa's third-largest trading partner after the EU (32%) and the United States (29%)¹. 47% of Africa's exports to Asia are oil and natural gas. Among the exported minerals and metals are gold, silver, platinum, iron ore, and copper. China and India invest primarily in the mining and oil sectors in Africa.

THE NUMBERS ARE IMPRESSIVE

The most serious competitor for Western and Russian companies in Africa, of course, is China, whose rapid economic growth encourages it to redouble its efforts to enter world markets, ousting "old players" from there. In 2007, China's GDP growth reached a record 11.4% , the highest level since 1994.However, it is not only the growth rate that matters, but also its absolute value. By the end of 2007, China's GDP was $ 3.2 trillion (4th place after the United States, Japan and Germany).². China's entry to the 3rd place in this indicator did not take place, as Germany's GDP grew significantly due to the strengthening of the euro. Scientists at the Chinese Academy of Sciences predict that China's GDP will reach $ ^{3.8 trillion in 2008.3}

China's trade with Africa was estimated at $ 55.5 billion in 2006 and $ 74 billion in ^2007.4. At the same time, as Wei Jianguo, China's Deputy Trade Minister, stated in November 2007, the goal set by the country's leadership is to bring the volume of trade turnover with Africa to $ 100 billion by 2010. can be implemented ahead of schedule ⁵. By this time, China will become the dominant trade and economic power in Africa, continuing to displace the continent's traditional partners of African countries-the United States and European countries, which annually lose 1% of their share in African trade.

The last decade has seen a surge in Chinese investment in Africa. By the end of 2006, according to the Ministry of Commerce of the People's Republic of China, their total volume was $ 6.64 billion.⁶ According to other sources, investments exceeded $ 8 billion, ⁷ and Business Report, citing Chinese sources, calls the figure $ 11.7 billion.⁸ According to the Export-Import Bank of China, 2007 More than 800 Chinese companies (including 100 state-owned ones) have invested in the economies of 48 African countries. Beijing has managed to adapt its foreign policy and domestic strategy to the needs of a growing economy, encouraging state - owned companies to establish contacts with mineral-producing countries. In Africa, 11 investment and trade promotion centers have been opened, their functions include payment security, customs duties, insurance, and business advice. Under the auspices of the State Council of the People's Republic of China, the "Group for Trade, Economic, Technical and Economic Cooperation and Coordination of Relations with African Countries" is responsible for planning, organizing and coordinating the development of trade, economic and investment cooperation with Africa. In a number of African countries, there are permanent trade missions of the PRC, exchanges with the participation of local and Chinese businessmen operate. In 2005, the China-Africa Chamber of Commerce was opened in Beijing. Negotiations are underway to establish a Free trade zone with the States of Southern Africa. A $ 5 billion fund has been created. The fund is designed to cover the risks of Chinese enterprises acting as investors; the fund has already allocated $ 1 billion a year-

ku of Chinese enterprises and companies investing in African countries. The Chinese government's financial policy includes insuring loans and credits, and creating marketing funds for small and medium-sized enterprises. There are private companies whose functions include facilitating the investment process in Africa and providing consulting services to investors. Agreements on mutual protection of investments have been signed with 28 African countries, and on the abolition of double taxation with 8.

The main object of Chinese investment is the mineral resources of Africa. China's interest in energy resources, primarily oil, has grown sharply in recent years and continues to grow at an annual rate of 3.2% ⁹, reflecting the growing interest of Chinese investors in the extraction and processing of this type of raw material. China's oil strategy is increasingly focused on Africa. China is the world's second largest consumer of crude oil. In 2006 it became the third importer of oil - 3.5 million barrels. per day-after the USA and Japan ¹⁰. According to forecasts of the International Energy Agency (IEA), China's oil imports will grow to 9.8 million tons by 2030. bbl. By 2045, China will surpass the United States as the largest oil importer. ¹¹ African oil and gas account for 35% of all Chinese imports of these raw materials. As Zhao Zhiming, Executive President of China Petroleum and Petrocemical Industry Association, said at the Cape Town African Energy Conference in March 2008, China aims to have Africa account for 40% of its oil and gas imports in the next 5-10 years.¹²

Foreign operations of Chinese oil companies, the largest of which are owned by the state, which in 1998 placed their activities under the control of the State Energy Administration, are supported by a wide range of tools. Loans and credit lines, development aid, arms supplies, and diplomatic support help China curry favor with the governments of oil-producing countries and gain privileged access to its oil resources.

The success of the Chinese oil business in Africa is largely due to the position repeatedly voiced by the country's leaders: "China does not interfere in the internal affairs of other states." In practice, this means a willingness to cooperate without the requirements of democracy, good governance, or human rights. It was this key that opened Beijing's doors to Sudan (and Iran in the Middle East), which had previously been closed to Western companies. However, helping to meet the booming demand of the Chinese economy with the help of African oil sources is only the short-term goal of Beijing's oil diplomacy, which also has the long - term goal of positioning China as a global player in the international oil market.

CHINA'S AFRICAN "SUPPLIERS"

It is hardly a coincidence that the rise of China's interest in Africa in the twenty-first century coincided with the discovery of new oil fields on the continent, primarily in the Gulf of Guinea. Already discovered deposits, including deep-water ones, are being actively developed in Africa. At the same time, 90% of African oil production is accounted for by 10 countries: Nigeria, Algeria, Libya, Angola, Egypt, Sudan, Equatorial Guinea, the Republic of the Congo, Gabon, and Chad. In recent years, oil fields have been found in Madagascar, Zambia, Uganda, Ethiopia, Kenya, Sao Tome and Principe (according to some sources, this country may eventually enter the list of new African oil giants), Mauritania, Ivory Coast. New reserves could boost African oil production. If you consider that countries such as Angola and Nigeria plan to double their oil production in the next decade, then with massive investment, according to the IEA, in 2020, oil production in Africa can reach 13 million barrels. on day ¹³.

The three largest Chinese oil companies - China National Petroleum Corporation (CNPC), China National Petrochemical Corporation (Sinopec) and China National Offshore Oil Co. (CNOOC) - have interests in many African countries, starting from Libya north to Nigeria in the West, Angola in the south, and Sudan in the east. Although China's interests in Africa are not limited to oil, the list of its main trading partners includes mainly oil-producing countries. The main supplier to replace Saudi Arabia as the largest oil exporter to China is Angola, the second largest oil producer in sub - Saharan Africa after Nigeria; it accounts for 14% of China's imports of African oil. China is projected to surpass the United States as the largest buyer of Angolan oil in the coming years. Sinopec actively cooperates with the Angolan company Sonangol. In 2006, an agreement on oil supplies to China was signed; Sinopec and Sonangol plan to jointly build an oil refining plant in Angola. "Sinopek" outbid part of the company's shares-

Shell Research Institute in one of the Angolan offshore blocks ¹⁴.

The second most important African oil supplier to China is Sudan. Sudan's oil production has been growing in recent years, and there is potential for further exploration in areas not yet accessible due to the conflict in Darfur province. Sudan's oil industry is monopolized by China, India and Malaysia, whose companies have replaced Western investors who have left the country. In 2007, Sudan supplied China with 200,000 barrels of oil per day, or at least 40% of Sudan's oil exports.¹⁵ In turn, Sudan meets 9% of Beijing's import needs for this type of raw material16. The main investor in Sudanese oil - CNPC, which owns the largest share (40%) in the Great Nile Petroleum Operating Company joint venture, produces 150 thousand barrels of oil per day. Considering that the proven oil reserves in the field are estimated at 220 million tons. t, the project can be considered one of China's largest projects in Africa ¹⁷. South Sudan will hold a referendum on independence in 2011. In order to ensure that the outcome of the referendum does not affect its interests, Beijing is negotiating the possibility of building an oil pipeline that will allow the export of oil from South Sudan.¹⁸

In recent years, China's trade relations with OPEC member Nigeria, the largest oil producer in Africa and the world's 11th oil power, have been actively developing. Petrochina, a subsidiary of CNPC, which is actively developing African markets, signed an oil supply agreement with the Nigerian National Petroleum Corporation ⁱⁿ 2005.19 The contract worth $ 800 million provides 30 thousand barrels of oil to China. Nigerian oil per day. In 2006, CNOOC acquired a 45% stake in the Akpo offshore oil field for $ 2.7 billion. United States dollars.²⁰ The company is expected to start producing oil in 2008. During the 2006 visit of Chinese President Hu Jintao to Nigeria, CNPC obtained 4 oil production licenses. The agreement also provides for the purchase by China of a controlling stake in the Kaduna oil refinery with a capacity of 100 thousand tons. bbl. On day ²¹. In 2008, three Chinese oil giants-CNPC, Sinopec, CNOOC-decided to jointly build an oil refinery in Nigeria to import its products.

It is impossible not to notice the active efforts made by China to gain access to the coveted oil fields. For example, it provided a $ 2 billion loan to Angola.²² The funds were allocated to infrastructure projects, many of which are designed to promote the development of the country's oil industry and trade: in particular, the rehabilitation of 400 km of highways, two railway lines, the repair of the airport, as well as the central hospital in Luanda. In 2008, Angola was granted loans worth $ 4.5 billion to implement a number of infrastructure projects (construction of schools, dams, roads, hospitals).²³. In Sudan, China has invested $ 4 billion in a number of projects in the oil industry, including a terminal near the port of Sudan, a 1,600-kilometer pipeline for transporting oil, and an oil refinery. With China's help, Sudan has transformed itself from an oil importer to an oil exporter, and has developed its own oil industry.²⁴

Chinese companies are also active in other oil-producing countries in Africa. Sinopec acquired a 27% stake in the Cote d'ivois-re ²⁵ oil block. The same company is developing an oil field in Algeria's Sahara Desert, while another company, CNOOC, began negotiations with Algeria in January 2008 to supply liquefied natural gas to a new terminal in the eastern province of Fujian26. Hu Jintao's visit to Gabon in 2004 resulted in a contract between the French-Gabonese company Total Gabon and China's Unipec (part of Sinopec) for the extraction, refining and export of Gabonese oil products to China. ²⁷ Gabon is one of the smaller oil suppliers to China, but its oil shipments to China have increased by 10.5% over the past year. The joint venture, which is 50% owned by Sinopec and Canada's Ensana, was established in Chad. The company is expected to start oil production in 2008-2009. For its part, Chad hopes to receive aid and investment in return. He also expects China to help ease its dependence on the World Bank to finance the Chad-Cameroon pipeline, as the Chinese are willing to build the pipeline for $ 900 million, while the World Bank will spend $ 3.5 billion on it.²⁸ Chinese companies intend to set up a joint venture in Madagascar to exploit the island's newly discovered oil reserves; they have started oil production in Ethiopia and northern Namibia, where they plan to build a refinery. ²⁹

In Egypt, a Chinese company has established a joint venture for the production of ³⁰ oil platforms; China is also implementing a project for oil extraction, refining and production of petroleum products here. In March 2008, a seminar on "Prospects for Sino-Egyptian cooperation in the oil sector" was held in Egypt, where these prospects were highly appreciated by representatives of the Egyptian Ministry of Petroleum Industry.³¹ Among the countries whose oil resources have attracted Beijing's attention in recent years is Equatorial Guinea; in 2006, China ranked third after the United States and Spain in terms of oil imports from ^this country32. Chinese ak entrepreneurs-

They are actively exploring the Sao Tome and Principe market for possible investments in oil exploration and production. Thus, Sinopec and Canada's Addax Petroleum announced their intention to invest $ 73.8 million in oil exploration in two blocks of the joint exploitation zone of Sao Tome and Principe and Nigeria. ³³ It should be noted that Chinese entrepreneurs are not deterred by the fact that China's relations with this country were severed in 1997. after Sao Tome and Principe recognized Taiwan.

COOPERATION IN ALL AZIMUTHS

The object of interest of Chinese companies is not only oil. Until recently, China relied on its own coal reserves; moreover, in 2005, it was a major exporter of coal. However, the large share of the industrial sector that runs on coal in the economy has led to an increase in demand for this type of raw material (today China accounts for 38% of global coal consumption), which has turned the country into an importer of it. Restrictions on deforestation imposed in China in 1998 forced Beijing to become a major importer of forest products (120 million cubic meters). m in 2004)³⁴. A significant part of the wood used to make Chinese furniture comes from African countries. China accounts for 46% of Gabon's timber exports, 60% of Equatorial Guinea's timber exports, and 11% of Cameroon's timber exports.³⁵ During a visit to Africa in January 2007, President Hu Jintao negotiated timber supplies with the Governments of Liberia and Mozambique.

Ores of various metals are of particular interest to Chinese companies. The growing consumption of minerals by China has resulted in a significant increase in world prices for copper, iron ore, and nickel, which has opened up favorable prospects for African ex-porters. Chinese corporations have invested $ 170 million in a copper mining project in Zambia, are involved in the extraction of cobalt and copper in the Democratic Republic of the Congo( DRC), manganese and gold in Ivory Coast. The Steel Corporation of China, Asia's largest steel producer (380 million tons per year), has offered $ 3 billion for the project. for a 60% stake in Zimbabwe's Ziscosteel Steel Corporation. The proposal received formal approval in Harare36.

In 2006, a Chinese consortium led by the China National Machinery and Equipment Corporation ("SEMES") won the tender for the contract and signed a $ 3 billion agreement with Gabon, obtaining monopoly rights to develop iron ore deposits in the Belinda region, deep in the country's rainforest, 500 miles off the coast. At the same time, the corporation pledged to create infrastructure, a hydroelectric power system, build a railway from the deposit to the coast, a deep-water port, warehouses, and storage facilities in the port in order to facilitate the delivery of ore to China ³⁷. Note that the deposit was discovered back in 1955, but no Western investor ever dared to undertake its development. However, Chinese companies, relying on the support of the state, took this risk.

China is active in South Africa , its main trading partner on the continent. One of the largest investment projects is the joint venture "ASA Minerals" for the extraction of chromium in the Northern Province of South Africa, created by the Chinese company "Sinostil" together with the corporation of the Northern Province of South Africa "Limpopo Provinces Development Corporation" ³⁸.

Samankor Chrome and Sinostil have established a joint venture for the extraction and smelting of chromium, in which the parties each own 50% of the shares.³⁹

The two countries are cooperating in the gold and diamond industries. China and South Africa have decided to process gold and diamonds locally, rather than exporting them in their raw form to Europe, as this process means creating ⁴⁰ new jobs. In November 2006, the South African company Gold Fields and the Australian company Sino Golds, which operates in China, merged, which led the representative of Gold Fields to announce the creation of a new strategic alliance, which makes the company the largest shareholder in Sino Golds. For 100 years, South Africa ranked first in the world in gold mining, but in recent years, production has declined by 50%. At the same time, China has increased gold production by 75% over the past 10 years and in 2007 for the first time surpassed South Africa in this indicator. The two countries have also started cooperation in platinum production. In 2006, the Chinese firm Zhilin Mining bought a 29.9% stake from the British platinum company Ridge Mining, which plans to develop two deposits in South Africa.⁴¹

NOT JUST AFRICAN RESOURCES

It is hardly fair that the Western media often accuses China of investing in Africa solely because it wants to get its hands on the continent's natural resources. Beijing constantly calls on Chinese companies to invest in various areas of the African economy: agriculture, infrastructure, industrial and civil construction, etc. And these calls resonate.

Major Chinese companies such as the China Harbor Engineering Corporation (port construction)operate in Africa, "China

roads and Bridge Engineering Corporation (construction of roads, bridges, tunnels), China Foreign Engineering Corporation, which deals with the problems of water resources and electric power, National Corporation for Overseas Economics, which is engaged in the construction sector. In Zambia, for example, more than 180 Chinese companies are investors, and accumulated investment reached $ 316 million in 2006, making China the third largest investor in the country after South Africa and the United Kingdom.⁴² China's Sino Hydro Corporation has taken over the construction of a 400 MW hydroelectric power station in northern Ghana, with the Chinese investing $ 600 million. They are investing in the construction of a hydroelectric complex in Zambia, roads in Kenya and Ethiopia, hotels and industrial enterprises in South Africa, Botswana, Sierra Leone and Angola ⁴³. In April 2007, the Chinese company ZTE signed a $ 200 million contract with the Telecommunications Corporation of Ethiopia to establish a mobile telephone network in the country. In May 2008, the Chinese Ambassador to Liberia announced Beijing's plans to invest $ 10 million to build a hospital in the country. Sudan has signed a $ 396 million agreement with China. for the construction of the dam, the tender was won by a joint venture created by two Chinese companies ⁴⁴.

In March 2008, China signed two agreements on cooperation in the field of nuclear energy with Algeria (previously such agreements were signed by Algeria with Russia, the United States, and France). During talks with a Chinese delegation visiting Mauritania after Algeria, Prime Minister of Mauritania Zein Ould-Zeidan said that his country welcomes Chinese investment and is ready to cooperate with China in the development of infrastructure and agriculture.

China has become the largest investor in Zimbabwe in recent years: According to Speaker of Parliament John Nkomo, there are more than 35 Chinese companies operating in the country, and the portfolio of capital investments amounted to $ 600 million.⁴⁵ According to data published in May 2008 by the Uganda Investment Authority, in the ranking of foreign FDI attracted by the country in the first quarter of this year, China moved from eighth to third place.⁴⁶ China is the sixth largest investor in Mozambique's economy, and the largest bilateral cooperation projects include the creation of a water supply system in a number of cities in the country and the construction of a new stadium worth $ 50 million. In January 2008, Mozambique began negotiations with China to invest in the country's energy sector.

The Ministry of Commerce of the People's Republic of China is taking measures to improve the process of investment cooperation with Africa. In particular, it eliminated the requirement for preliminary verification of an investor's financial viability. The decision to invest is now made by the companies themselves; the number of documents required for making such a decision has been reduced. The Ministry provides potential investors with information on the terms of trade and investment climate in African countries; it has required Chinese embassies in Africa to provide Chinese companies with the information they need. Training programs have been developed for those who want to establish business relations with African partners, and visits to African fairs and exhibitions are organized by Chinese entrepreneurs.

Of great importance is the exchange of visits, and at the highest level, during which, as a rule, the directions of Chinese investment in certain areas of the African economy are discussed. Speaking at the annual meeting of the African Development Bank (AfDB) in Shanghai in 2007, Chinese Central Bank Governor Zhou Xiachuan said that Beijing intends to encourage not only large, but also medium and small firms to invest in Africa.⁴⁷

Today, Chinese companies can be found in almost all corners of the continent. At the same time, there is a strong influence of the Chinese state on the nature and scope of investment applications.

PROS AND CONS OF CHINA'S INVESTMENT POLICY IN AFRICA

China's investment in Africa not only helps provide raw materials for the Chinese economy, but also contributes to the continent's economic growth. One WB report notes that Chinese investment has a positive impact on the development of the African economy and that Africa certainly benefits from Chinese investment.⁴⁸ Some analysts partly attribute China's investment to Africa's strong economic growth.⁴⁹

At the same time, a number of features of China's investment policy are causing criticism in Africa. Africans complain, in particular, that Chinese companies use their own labor force instead of providing jobs to Africans. At the same time, it is difficult to compete with the Chinese: they do not bring their families with them, do not require comfortable living conditions for themselves, and agree to a low salary. Sometimes discontent is caused by the working conditions at Chinese enterprises, and the disregard of environmental protection measures by Chinese companies.

While generally successful, China's investment activities in Africa still face obstacles. These include political instability in the countries of the continent, high tariff barriers that give rise to the" Balkanization " of domestic markets, and complex customs regulations.-

customs procedures at the borders of individual states, corruption, on the scale of which many African countries are leading in the world ranking, poor infrastructure, in the improvement of which Chinese companies have been actively investing in recent years.

Among other things, economic activity in Africa involves risks for its participants. Chinese specialists are sometimes targeted by anti-government forces. For example, members of the Nigerian "Movement for the Liberation of the Niger Delta" repeatedly took Chinese oil workers hostage in 2006 - 2007. In Kenya, a Chinese engineer working in road construction was killed in 2007. In the same year, the Ogaden National Liberation Front claimed responsibility for an attack on Sinopec's oil reserves in the Ogaden region of eastern Ethiopia, in which ⁵⁰ Ethiopian and Chinese workers were killed.

Despite the shortcomings inherent in China's investment policy in Africa, the obstacles in its path and the competitive struggle that Chinese companies have to fight here, it is possible to state the success of Beijing's strategy on the continent. This success is due to a number of circumstances.

One of them is the willingness of Chinese companies to take risks when operating in war-torn and conflict-torn countries such as Liberia, DRC, and Sierra Leone. Although the work here takes place in rather difficult conditions, it allows companies to receive higher returns on invested FDI. In addition, investment in conflict-affected countries leads to an increase in China's political influence, which also benefits its business activity.

China's advantage is also that it operates in countries that are the target of Western sanctions, which deal a significant blow to the latter. China positions itself as an alternative partner of the "pariah states", which brings it significant economic and political dividends. This is the kind of strategy he has adopted, in particular, with regard to Sudan and Zimbabwe.

An incentive for China is the improvement of macroeconomic stability and success in the sphere of political security of a number of countries on the continent. Many African countries are seriously concerned about reforms in basic sectors of the economy, including financial sector liberalization and changes in trade and investment policies. In a number of countries (Ghana, Senegal, Tanzania), the rules for attracting FDI are being simplified and more transparent regimes for their use are being established. All this makes it possible to predict further growth in China's investment in Africa.⁵¹ The continent's mineral and hydrocarbon resources will continue to attract investors, despite the difficulties of extracting and exporting them to China, the lack of "proper governance" in the countries that source raw materials, a favorable investment climate, and other obstacles.

The success of China's investment activity, primarily in the oil sector , is a source of concern for countries that also need to import hydrocarbons. The United States is most concerned in this regard. If in countries like Sudan, China has managed to fill a kind of vacuum created by the West's unwillingness to cooperate with states that it considers to be part of the "axis of evil", then, for example, in Nigeria, the situation is different. Here, China will constantly face "old players "who are not going to give up their positions in the oil market of the Gulf of Guinea, which they, especially after the" events of September 11", consider as an alternative to the Middle East market or an addition to it.

China's competitor in the fight for raw materials is also India, whose industry is also in dire need of them. First of all, we are talking about oil and gas, in the struggle for access to which China regularly finds itself ahead. In 2005, Indian Prime Minister M. Singh called on the country to act quickly and decisively to counteract the aggressive behavior of such Chinese giants abroad as Sinopec, Petro-China, CNOOC5 ².

Simultaneously with the competitive struggle on the world markets, the states that consume energy raw materials are trying to unite. In early 2005, the oil industry ministers of China, Japan, South Korea, and India discussed the creation of an Organization of Petroleum Importing Countries opposed to OPEC. And during the visit of Chinese President Hu Jintao to India, a meeting was held between Indian Minister of Petroleum Resources Murli Deor and head of the National Development and Reform Commission of China Ma Kai, at which it was decided to create a joint company with the aim of acquiring hydrocarbon assets in Africa.

AND WHAT ARE RUSSIA'S POSITIONS?

Although China's expansion makes trade and investment activities in Africa more difficult for Russia, the latter is, to a certain extent, included in the competition with the Asian giant. Some observers even call it the second most active emerging market country in the region. In terms of trade with the countries of the continent ($3 billion), it is still difficult to compare Russia with China, although this trade has grown 3 times since 2000. However, Russian business already occupies certain positions in the African market.

In recent years, leading Russian companies such as Rusal, Renova and ALROSA have spent more than $ 5 billion acquiring African assets, while LUKoil, Rosneft and Stroytransgaz have signed contracts worth more than $ 3 billion. development of oil fields in Algeria, Angola, Nigeria, Egypt and Libya, which will be implemented before the end of the decade ⁵³. Russian companies operating in Africa include Sintez Group, which is developing oil fields in Namibia, and LUKoil, which is involved in an oil project on the Ivory Coast shelf.

If China's main goal is to obtain resources, Russia is advantageously distinguished from it by the fact that it is itself an exporter of hydrocarbons and minerals. At the same time, given the economic growth of Africa, the reduction of its debt burden, the pace of economic reforms in a number of countries, as well as the emergence of a growing class of consumers in such countries as South Africa, Kenya, and Nigeria, on the one hand, and the financial capabilities of a number of Russian companies, on the other, the latter can compete services and high technologies. When evaluating Russia's investment opportunities in Africa, first of all, we should keep in mind South Africa - one of the most dynamically developing and promising markets in the world. Although South African mineral resources have long been developed by "old players", South Africa was among the recipients of Chinese investment. The country's economy is developing rapidly, corruption is relatively low by African standards, political stability has been achieved, and this country is certainly attractive for Russian investors. At the end of 2007, Russia's investment in South Africa was estimated at $ 1.5 billion and is expected to grow.⁵⁴ In particular, Russia is a major gold producer (6th in terms of production and 4th in terms of reserves) - like China, it is quite capable of cooperating with South Africa in the gold mining sector.

^{Broadman Harry.} 1 Africa's Silk Road. China and India's New Economic Frontier. Wash. The World Bank Group. 2007.

² Eurotest. 24.01.2008 - http://hghltd.yandex.net/yandbtm.url

³ Interregional Business Cooperation Center. 29.02.2008 -http://www.mcds.ru/default.asp

⁴ Ekonomicheskie izvestiya. N 22 (785). 07.02.2008.

⁵ People's Daily online. 14.11.2007 - http:// russian. people.com.cn.31520/6296545.html

⁶ Ibidem.

^{http://www.commersant.com/p} 7738309/Chinese/Africa

⁸ Business Report. Johannesburg. May 15, 2007.

⁹ World Energy Outlook. 2007. China and India Insights. International Energy Agency. Paris, OECD/IEA. 2007. P. 117.

¹⁰ Ibid. P. 261.

^{Taylor Ian.} 11 China's Oil Diplomacy in Africa. International Affairs. 2006. Vol. 82, N 5. P. 943.

¹² China to Import More Oil and Gas from Africa. - Hong Kong Commercial Daily News. March 19, 2008.

¹³ International Energy Agency (IEA). World Energy Investment Outlook. Paris. 2003. P. 167.

^{Taylor Ian.} 14 Op. cit. P. 940.

¹⁵ Sudan Doubles Crude Exports to China in 2007. Reuter News. January 22, 2008 - http://www.uofaweb.ualberta.ca/chinainstitute/nav 03.cfm

¹⁶ The Nation. Nairobi. April 14, 2006.

^{Taylor Ian.} 17 Sino-African Relations and the Problem of Human Rights. - African Affairs. 2008. Vol. 107, N 426. P. 63 - 87.

¹⁸ Africa Confidential. L., November 2006. N 22. P. 8.

¹⁹ Vanguard. Lagos. 12.07.2005.

²⁰ Ekonomicheskie izvestiya. 07.02.2008.

²¹ Daily Trust. Abuja. April 27, 2006.

^{Taylor Ian.} 22 Sino-African Relations... P. 63 - 87.

^{Agyeman Kissy.} 23 Angolan Government Agency Praises Chinese Investment. Global Insight Daily Analysis - http://www.uofaweb.ua]-berta.ca/chinainstitute/nav03.cfm

^{Taylor Ian.} 24 China's Oil Diplomacy... P. 940.

²⁵ Ibid. P. 938.

²⁶ CNOOC Seeking Algerian Spot LNG for New Terminal-Sources. Dow Jones Energy Service. January 15, 2008 - http://www.uofaweb.ual-berta.ca/chinainstitute/nav03.cfm

²⁷ Chinese President Begins State Visit to Gabon - http://www.bday. co.za/bday/content/direct. 02.02.2004

²⁸ Africa Confidential... P. 7.

²⁹ Reporter. Addis Ababa. March 4, 2006.

³⁰ Pulse of the planet. ITAR-TASS. 27.05.2008.

³¹ Egypt Experts to Boost Energy Cooperation with China: Official. Xinhua News Agency. March 19, 2008.

³² The Nation. Nairobi. April 14. 2006.

³³ ITAR-TASS. 03.04.2008.

³⁴ China's Influence in Africa. Hearing before the Subcommittee on Africa. Global Human Rights and International Operations of the Committee on International Relations House of Representatives. Wash. July 28, 2005. Serial N 109 - 74. Wash. 2005. P. 64.

^{Bello Walden.} 35 China Provokes Debate in Africa. March 12, 2007 -http://fpif.org/fpiftxt/4065 ³⁶ Business Day. Johannesburg. January 12, 2007 http://www.businessday.co.za/articles/tarkarticle.aspx

^{Akwe Amosu.} 37 China in Africa. It's (Still) the Governance, Stupid. -Foreign Policy in Focus. March 9, 2007.

³⁸ State Visit of President Thabo Mbeki to the People's Republic of China. Issued by Department of Foreign Affairs. November 28, 2001 -http://www.policy.org.za/html/goodoes/pr/2001/prl/ssa/html

³⁹ Russian, Chinese Investors Shift Round Samancor Chrome Division. - Business Day. September 6, 2004.

⁴⁰ Chinese Trade will Create More Jobs - Zuma. - Cape Times. Capetown. October 11, 2004.

⁴¹ Business Day. January 12, 2007.

⁴² Ibid., October 1, 2004.

^{Kragelund Peter.} 43 Chinese Investments in Africa. Catalyser, Competitor, or Capacity Builder. - Second European Conference on African Studies (ECAS) 2007. Programme and Abstract Book. Leiden. African Studies Centre, 2007. P. 306.

^{Eiseman J.} 44 and Kurlantzick J. China's Africa Strategy. - Current History. May 2006. P. 222.

⁴⁵ Ibidem.

⁴⁶ ITAR-TASS. 4.03.2008.

⁴⁷ Sun Guangxiang, Vice-Minister of Foreign Trade and Economic Cooperation. Speech on Follow-up Action on China-Africa Cooperation Forum at the Briefing Meeting with African Diplomatic Envoys. February 6, 2001 - http:// www. moftec en/ Zbhz/ action.sgx.html

⁴⁸ China Wants to Send Small Firms to Africa. - Business Report, May 15 2007 - http://www. eusrep.co.za/index.php

⁴⁹ International Radio of China. 18.02.2007.

⁵⁰ As Chinese Investments in Africa Grows, So Do Risks. - VOA News, May 6, 2007 - http://www.voanews.com/specialenglish/2007 - 05 - 06-voal.cfm

⁵¹ UNCTAD. Global Investment Prospects Assessment. 2006 - 2008 (GIPA).Jeneva. UN. 2005.

⁵² Corinthians 18 (810). May 2005. pp. 2-3.

⁵³ Race for new riches. - China PRO. N 10 (30), 01.12.2007 - www.chinapro.ru

^{Shchedrin V.} 54 Open doors of the Black Continent. - Rossiyskaya Gazeta. 08.09.2006 - http://www.rg.ru/2006/09/08/Africa.html

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