China to Give Africa $10 Billion

The premier of China, Wen Jiabao, has promised to give Africa $10,000,000,000 in low interest loans over the next several years. Some believe it is a move to off set what some say is the plundering of the African land for minerals and oil by China. Also though, trade between China and Africa has grown ten times the amount since 2000 and even 45% since 2008. Wen Jiabao was also considering what this meant for the U.S. In his speech at the summit in Egypt he talked about retaining the stability of the American dollar and keeping the U.S. deficit in check. It is understandable that he is concerned about this for China is the largest recipient of the current U.S. debt.

-Keith