Untitled Document
HOME > News Desk > Global


 
    분류 Global 학교 Shanghai Golden Apple School
Zambia’s Copper and Natural Resources Exports 2021-07-31 오후 10:23:00

Zambia’s Copper and Natural Resources Exports: Roses Outside of Rose-tinted Glasses?

The general public may not perceive Zambia as a major player in the global economy landscape. However, its status as Africa’s second largest producer of copper assigns Zambia a very unique place (Mapila). Countries such as Switzerland, China, and Democratic Republic of Congo make up nearly three-quarters of Zambia’s total export, which was mostly comprised of copper and various other natural resources. Most of the exported copper eventually flows into China, since the numbers suggest that Switzerland does not own all the import. Copper is a necessary resource to produce electronics, which are mostly manufactured and/or assembled in China.

In 1964, Zambia and China established diplomatic relations, and their mutually beneficial friendship has steadily grown since then (Zheng). With financial support from Chinese firms, Zambia was able to invest in mineral resources development for higher productivity, thus creating a lucrative cycle.

Figure 1 A Copper Mine in Zambia

At Silu Mining Forum 2019, Ren Juping – deputy director of the Overseas Exploration Institute of the Tianjin Geological Survey of the China Geological Survey – stated that Zambia has the best mining equipment in Southern Africa (Zheng). Considering geological and equipment sophistication, Zambia shows competitiveness over neighboring countries such as Lesotho and Swaziland.

Some critics worry that Zambian economy develops over-dependence on natural resources. If another country develops its mining equipment or decides to lower prices of copper, Zambia could lose its advantages. In fact, kwacha (Zambian currency) lost half of its value against U.S. dollar in 2014 (York). Solely relying on Zambia’s profitable natural resources and minerals export might be Zambian economy through rose-tinted glasses. With its abundant natural resources and advanced mining equipment, Zambian government needs to fulfill its responsibility of educating its citizens and striving towards economic prosperity.




References:
https://www.chathamhouse.org/publications/the-world-today/2021-08/copper-can-save-zambia
https://energyindustryreview.com/metals-mining/zambia-has-the-best-mining-investment-environment-in-southern-africa/
https://www.theglobeandmail.com/report-on-business/international-business/african-and-mideast-business/declining-copper-prices-send-zambia-into-economic-crisis/article26995466/

Image References:
https://www.theglobeandmail.com/report-on-business/international-business/african-and-mideast-business/declining-copper-prices-send-zambia-into-economic-crisis/article26995466/

Writer
Shanghai Golden Apple School
이예림
 
  ◀ 이전글 | 다음글 ▶  
로그인 하세요