While the U.S. and Russia were busy huffing and puffing over the Crimea, China was busy conquering the world…with their money. Or, more accurately, the money that the U.S. used to have.
And the Chinese aren’t just arming a bunch of warlords. No, the Chinese are investing in infrastructure to move oil and people from A to Z. Efficient railways play an important role in the socioeconomic development of countries.
So, who needs more developing that Africa? Who has more unexploited resources than Africa? And the largest oil producing country in Africa is the beneficiary of China’s largess. Nigeria has received $600 million of what will eventually be billions of dollars to build a 2,000 mile (3,218 km) nationwide high speed rail (HSR) system. The first tranche is a 20 year loan from China’s Export Import Bank to build an 850 mile (1,367 km) section. Eventually the project will cover 54 stations, freight and passenger travel serving the capital Abuja, surrounding areas and most of Nigeria. All aboard Africa.
Read David Russell Schiling’s industry tap article here:
Brought to you by Miami International Business Attorney