Africa is The Prize - China says booming trade with Africa is transforming continent

From the UK Guardian:

China said yesterday its two-way trade with Africa had increased by nearly 45% in a year to hit a record $114.81bn (£75bn), highlighting a trend that could be helping transform the world's poorest continent.

Beijing said economic ties with Africa had recovered from a dip in 2009 due to the global financial crisis and would now grow even faster.

In 1992 two-way trade between China and Africa stood at just $1bn. But Chinese demand for oil, gas, iron ore and other raw materials for its rapidly growing economy has spurred trade and investments in Africa in recent years.....read on