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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

Is China Losing Interest in Africa?

Last week, the Aluminum Corp. of China, otherwise known as Chinalco, received regulatory approval to proceed with its investment of $19.5 billion in the Australian-based mining giant Rio Tinto, giving the Chinese access to a large and secure supply of iron ore, copper, aluminium and other resources in Australia and Latin America. Is this a signal that China is losing interest in Africa? Or that African governments are becoming disenchanted with their Chinese partners?

IMF Gold Sales Should Fund Low-Interest Loans for Poor Countries

On April 29, U.S. House of Representatives Democrat, Rep. Barney Frank, said that he supports authorization by the U.S. Congress of gold sales by the International Monetary Fund, on the condition that $4 billion of the proceeds go to poor countries. He also said that the U.S. Treasury backs his position. This is all good news regarding the IMF’s sale of 1/8th of its gold reserves, approximately 403 tons.