China defends oil trade with Africa
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China defended its booming oil trade with Africa on Monday, and said Europe and the United States should look at their own engagement on the continent before criticizing Beijing.
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China's big spending in Africa drew a mixed response at a global aid meeting in Vietnam, where many welcomed the giant's new role on the continent but some voiced disquiet about its intentions.
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China's oil output has seen nearly flat growth this year, failing to keep up with the country's booming economy and forcing it to rely on coal and imported crude instead.
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Former Deputy PM John Prescott defends China's record on Darfur and calls on critics to stop lecturing Beijing
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BEIJING -- China launched a $1 billion fund Tuesday to finance trade and investment by Chinese companies in Africa as part of efforts to nurture commercial ties with the resource-rich continent.
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China's aggressive courtship of  Africa can benefit that poor continent, but shady Chinese  businessmen and no-questions-asked aid policies could backfire,  on Beijing, U.S. and African experts said on Thursday.
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Chinese President Hu Jintao's visit to Sudan could cement China's position as the continent's business partner of choice.
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China wants to start direct negotiations with OPEC to secure a stable oil supply and an equitable share of the oil market, a top official said here Monday, in comments that underline the Chinese economy's rapidly growing energy needs.
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BP Plc hopes to take advantage of China's growing clout in the global energy market by jointly tapping oil and gas reserves with Chinese companies in foreign countries, state media said.
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Chinese President Hu Jintao has departed for a pressure-packed 12 days traversing eight African nations, with genocide, oil, aid and booming trade just some of the issues on the agenda.
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Oil prices steadied on Friday after an  eight percent rout driven by a surprise interest rate hike in  China that raised doubts about demand from the world's second  largest energy user.
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President Hu Jintao, apparently seeking to ease concerns over China's investment drive in Africa, said on Wednesday that Beijing's business interests would not hurt the continent.
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Chinese President Hu Jintao has refuted any suggestion that Beijing was developing a neo-colonialist relationship with Africa in its drive to gain access to the continent's natural resources.
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Chinese President Hu Jintao began a 12-day tour of Africa, his third since coming to power in 2003, stepping up China's campaign to win a larger share of Africa's oil and energy resources.
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If China wants to slow the rate of economic growth and oil demand slows because of that, &quot;then the oil prices at these levels are too high,&quot; he said.
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PARIS, Nov 15 (IPS) - The new African-Chinese economic and diplomatic  partnership, manifested in the pact signed by China and 48  African countries in Beijing this month, is unsettling European  leaders and analysts, who continue to see Africa as Europe's  backyard.
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Chinese President Hu Jintao has refuted any suggestion that Beijing was forming neo-colonialist ties with Africa in its bid to access the vast natural resources of the world's poorest continent.