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South Africa's Mbeki: Mixed Feelings Toward Chinese Investment in Africa


South African President Thabo Mbeki says Africa will benefit from Chinese investment but he is also concerned about the fate of local industry.

In an interview with Britain's Financial Times Thursday, Mr. Mbeki said it is clear that Beijing will continue to invest in the continent's raw materials and its energy sector. In recent years, Beijing has invested heavily in several African nations to help power its booming economy.

But Mr. Mbeki also said an influx of cheap Chinese goods could threaten the continent's industry.

In South Africa, for example, the textile industry has recently demanded Pretoria limit imports of Chinese clothing it says threatens South African jobs.

The clothing industry was one of the largest employers in South Africa, but labor unions say some 150,000 textile jobs have been lost in the last decade.

Some information for this report was provided by AFP and Reuters.