China in Africa - Part 2: Angola

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Source: YouTube
Added: 02-24-2009
Tags: china, africa, angola, economy, oil, diamonds

Part 2 in the series. From 1961 to 1974 under Portuguese colonial rule and then from independence in 1975 to 2002, Angola experienced great internal turmoil as UNITA, the MPLA, the Portuguese military, the FNLA, the South Africa military, the Cubans, the Soviets and East Germans all participated in first, a war of independence, then a war for Cold War ideological dominance in the country. By 2002 the country was in complete ruins, it ranked near the bottom of the United Nations Human Development index. There was no economy to speak of. Although the country was rich in diamonds and oil, these resources had been used to finance the war. Millions of people had been internally displaced. There was next to no foreign investment. In stepped China. China's need for oil has turned Angola into the second largest oil exporter in Africa, and the country is poised to replace Nigeria as the number one exporter of oil in Africa within a few years. Not only is China buying Ango

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