Marv posted FT article which sez:
"China has produced a generation of companies making capital goods that are now internationally competitive"
I read this here, and just the opposite elsewhere (in BloomBizWeek) nearly a year ago. But if this is correct, this is a big deal. Also the "willing to invest" part... rather than buying back stocks, issuing divided payments, plowing funds into asset speculation, etc. Also interesting how the extraction and infrastructure (and to some extent processing) deals in sub-Saharan Africa are not merely about firming up geo-economic ties in SSA, but also about using SSA for as a platform "learning by doing" and "scaling up operations" so that the Chinese firms can move into the mid-level semi-peripheral markets.
John