Posts Tagged ‘fakes’
China has been investing large sums into Africa to take advantage of the continent’s vast natural resources and build diplomacy. In 2012 alone, China dropped $27.7 billion between Cairo and Capetown and is showing no signs of slowing down. But even with China bringing all sorts of new infrastructure, mobile networks, sports stadiums and more productive farming to the continent, one country that isn’t looking too fondly on the Middle Kingdom is Egypt.
Egypt’s tourism industry, which accounts for 40% of the country’s non-commodity exports and is one its main employers, stands to benefit significantly from the rise of Chinese outbound tourism. With 200 million Chinese expected to travel abroad in 2017, once Egypt settles a little, big-spending Chinese tourists will come flooding in. So it is in Egypt’s best interests to keep China on side, but a couple of recent incidents by Chinese nationals will certainly be testing their patience.