China's engagement with Africa began in 1956 and has gone up several notches in the last decade. Unlike Europe's scramble for Africa at gunpoint,China's resource grab comes with a chequebook and a handshake.

Beijing has turned its attention inwards,aimed at improving the welfare of its poor citizenry to middle income status by 2020. Commodities that are necessary for infrastructure spending became cheaper with the advent of the financial crisis. Stockpiling and securing supply is the name of the game.

'BEIJING — China will set the future direction of its burgeoning ties with Africa at a multinational forum in Egypt this month,Foreign Minister Yang Jiechi was quoted as saying on Sunday.

Premier Wen Jiabao plans to attend the Nov. 8-9 Forum on China-Africa Cooperation in the resort of Sharm el-Sheikh,Yang said in an interview with the official Xinhua News Agency.

No details were given,but at the last forum in 2006,China pledged to double assistance to Africa by 2009,provide $5 billion in preferential loans and credits,cancel debts and establish a $5 billion fund to encourage Chinese investment....'

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The proposes bill to regulate price increases is by and large replacing the intelligence of the free market with that of politicians. Knowing politicians,I prefer the former.

Recall the maize importation scandal when the Hon. Agricultural Minister set a price limit for locally sourced maize at 1,700 per bag only for farmers who had priced in 2,200 and 2,400 to withdraw their crop. The government was then forced to import maize at a cost of 2,700 a bag.

With the second coming of inflation,all retailers and manufacturers will find themselves behind bars. To ward of the tide of inflation from the U.S.,we should have a strong currency. Measures to achieve this are reduction in the budget,trade and therefore current account deficits,mopping up excess local money supply by interest rates.

Price inflation is a consequence of a general increase in money supply. It is not as a result of 'evil' traders out to punish consumers.

'A Bill seeking to bar manufacturers and distributors of consumer goods from arbitrary price increases is to be reintroduced in Parliament when it reopens next week.

The move is aimed at protecting consumers from price-induced inflation.

The prices of most consumer goods have risen sharply,pushing the country’s inflation rate hit the roof as manufacturers claim high cost of production and transportation.'

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http://www.businessdaily...0/-/n5uu4h/-/index.html

Phase 1: secure resources.

Phase 2: develop infrastructure to store,process and transport resources

Phase 3: invest in tertiary products and services aligned with the nation's development


'China is pushing for a greater role in the development of Kenya’s infrastructure— an area with significant untapped potential for Chinese firms,says Zhai Jun,the assistant foreign minister.

He told Business Daily in Beijing,that China has so far invested about US$70 million in Kenya.

'The figure is not very large. We’ll continue to encourage the Chinese business community to invest in Kenya in areas such as infrastructure.'

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http://www.businessdaily...0/-/smm8k8z/-/index.html

This can't be good especially following Jay Z's recent ode to the city titled 'Empire State of Mind'. The chorus is as follows:

In New York,
Concrete jungle where dreams are made of,
Theres nothing you can’t do,
Now you’re in New York,
These streets will make you feel brand new,
The lights will inspire you,
Lets here it for New York,New York,New York

'ALBANY (CBS) ? Governor David Paterson called an unusual joint session of the Legislature Monday to implore recalcitrant lawmakers to close the state’s huge budget gap before New York runs out of money.

To some lawmakers it’s nothing more than a photo op to help Paterson get re-elected. But the governor is dead serious. He said if the Legislature doesn’t cut the budget now the state could run out of money by next month.

'We’re going to run out of cash in four and a half weeks. We are going to run out of money. Unless we do something about it,(it will) threaten generations,' Paterson said...'

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http://wcbstv.com/cbs2cr...n.special.2.1300362.html

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