Thursday, April 23, 2015

John Burnett ― China Beating U.S. in Race to Invest in Africa

John Burnett is a financial services executive with over 20 years of experience in risk management, operations, governance and compliance at some of the world’s top financial services and business information companies, such as Citi, McGraw-Hill Financial, Merrill Lynch and Morgan Stanley. In 2013 he was the New York City Republican candidate for New York City Comptroller. 

(U.S. News & World Report)

Once a largely neglected region of the world, sub-Saharan Africa has quietly become the center of a struggle for influence between what are arguably the world’s chief powers: China and the United States. 

There is no overstating the stakes, given the abundant natural resources Africa has to sustain the needs of growing economies throughout the world, including metals like bauxite, used for its aluminum; platinum, used in catalytic converters, lab equipment and dentistry tools; and nickel, used in batteries, magnets and stainless steel. 

Yet in a deep and troubling sense, the United States is trailing China, whose economic ties in Africa are deep.

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