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China, Africa.
Leaders of the five BRICS nations fueling global economic growth plan the creation of a development bank in a direct challenge to the World Bank that they accuse of Western bias.
Incoming Chinese president Xi Jinping's first trip as head of state will take him to Africa, the government said on Saturday, as China seeks to cement a growing trade and energy relationship that has caused alarm bells to ring in Washington.
China’s state-run news media are rapidly growing in Africa, hoping to bolster Beijing’s influence in a region rich in the resources needed to fuel China’s powerhouse industries.
Chinese President Hu Jintao on Thursday pledged African governments $20 billion in credit over the next three years and called for more China-Africa coordination international affairs to defend against the "bullying" of richer powers.
Chinese arms firms offered to sell weapons worth about $200 million to Libyan leader Muammar Gaddafi's beleaguered forces in July, two newspapers reported, compounding pressure on Beijing's brittle ties with the rebels who have ousted him.
China's premier pledged $10 billion in concessional loans to African nations and said Beijing would cancel the government debts of some of the poorest of those countries.