Turning Ethiopia Into China's China
By Kevin Hamlin, Ilya Gridneff, and William Davison
July 24, 2014
http://www.businessweek.com/ articles/2014-07-24/ethiopia- vies-for-chinas-vanishing- factory-jobs#p1
http://www.businessweek.com/
Zhang’s factory is part of the next wave of China’s investment in Africa. It started with infrastructure, especially the kind that helped the Chinese extract African oil, copper, and other raw materials to fuel China’s industrial complex. Now China is getting too expensive to do the low-tech work it’s known for. African nations such as Ethiopia, Kenya, Lesotho, Rwanda, Senegal, and Tanzania want their share of the 80 million manufacturing jobs that China is expected to export, according to Justin Lin Yifu, a former World Bank chief economist who teaches economics at Peking University. Weaker consumer spending in the U.S. and Europe has prompted global retailers to speed up their search for lower-cost producers.
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