The United States, China and mineral resource extraction: the case of the Democratic Republic of the Congo

SOURCE: FOCAC 2015: a new beginning of China-Africa relations
OUTPUT TYPE: Chapter in Monograph
PUBLICATION YEAR: 2015
TITLE AUTHOR(S): F.Y.April
SOURCE EDITOR(S): G.Shelton, F.Y.April, L.Anshan
KEYWORDS: CHINA, DEMOCRATIC REPUBLIC OF CONGO, RELATIONSHIPS, RESOURCE NEEDS
DEPARTMENT: African Institute of South Africa (AISA)
Print: HSRC Library: shelf number 8909

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Abstract

Of relevance for this chapter is the DRC-China agreement, which is a well-known embodiment of the increasing number of Chinese mineral infrastructure agreements with countries on the African continent. A key element of China and Africa's resource trade is premised on the so-called resources for infrastructure swaps, which are seen to facilitate much needed infrastructure investment. Resource for infrastructure swaps, which are typically employed by the Chinese government and state owned companies, are viewed as having a positive impact on continental economic development and provide an escape route from the mineral resource curse. They allow African governments to invest in public works by paying for them with future exports. The DRC-China resource for infrastructure swap that was agreed in 2008 is of major significance, as it is the largest on the continent and could serve as a model for future mining agreements.