China Buys Technology and Resources, Mines Sea Bottom and MoonPosted: February 4, 2017
For further economic development, China needs technology and resources; therefore, China is spending billions of dollars to obtain them from abroad.
In its report “EU set to approve ChemChina’s $43 bln bid for Syngenta: sources” on February 3, Reuters says, “ChemChina [CNNCC.UL] is set to secure conditional EU antitrust approval for its $43 billion bid for Swiss pesticides and seeds group Syngenta (SYNN.S), the largest foreign acquisition by a Chinese company, two people familiar with the matter said on Thursday.”
China will get Syngenta’s technology related to top-tier chemicals and patent-protected seeds through the acquisition.
As for natural resources, China needs lots of copper for its industries. SCMP says in its report “China plans to destroy ancient Buddhist city to get copper bonanza” on February 2 that China is to pay $3 billion for 30-year lease for mining world second largest copper deposit in Afghanistan.
China’s huge investment in its Silk Road economic belt and maritime Silk Road projects in Central and South Asia and Eastern Europe will enable it to exploit not only the natural resources such as oil and natural gas in Central Asia, but also the cheap labor resources there.
Those are not the greatest efforts in exploiting resources. China is building high-technology submersibles to mine sea bottoms and will send spacecrafts to the moon to mine helium-3 for nuclear fusion. (See my posts “China Exploiting Ocean-bottom Mineral Resources Soon” on January 24 and “China to Get Energy Hegemony by Taking Nuclear Fusion Material from the Moon” on June 19, 2014.)
China is now absolute world leader in nuclear fusion and may build a nuclear fusion power plant by 2030. Why is China so advanced in that area? It is very rich to have the money to fund the research.
The US, however, has to close its very advanced Alcator C-Mod fusion facility at Massachusetts Institute of Technology due to lack of funds. It is losing energy hegemony to China due to its economic decline and China’s economic rise.
China is rich and will be even richer with its efforts to reform its systems and to obtain resources for its economic development.
US new president Trump seems to know the need for US economic strength with his policy of America first for US economic growth.
I hope both China and the US grow richer and stronger so that their people may lead a happy life.
Comments by Chan Kai Yee on Reuters’ and SCMP’s reports, full text of which can respectively be found at http://www.reuters.com/article/us-syngenta-ag-m-a-china-natl-chem-eu-idUSKBN15H1SQ and http://www.scmp.com/news/china/policies-politics/article/2067517/china-plans-destroy-ancient-buddhist-city-get-copper.