The Implications of China's Ascendancy for Africa
The Centre for International Governance Innovation Working Paper No. 40
48 Pages Posted: 26 Oct 2008
Date Written: October 25, 2008
China's spectacular economic progress has led some security analysts and policy makers in the North and the South to question Beijing's intentions in other parts of the world. This paper examines the extent to which China's engagement with Africa has produced mutual benefits for both and whether Africa is reaping the necessary benefits required for poverty alleviation and economic development. Chinese state-owned enterprises have invested billions of dollars in foreign reserves, construction, and engineering resources assisting African oil-producing exporters. While many in the west have started to question China's extraordinary level of interest in Africa - in particular, its economic engagement with perceived repressive regimes - African leaders view China's entry as a means of pulling Africa onto the path of globalization. It is thus important that African leaders and policy makers ensure that Chinese trade and investment bring reciprocal and tangible benefits for Africans, and contribute to economic stability and good governance.
Keywords: China, China in Africa, Africa, Economic Development in Africa, Economic Development in Africa, FDI in Africa, FDI
JEL Classification: F00, F21, F23, F35, G28, J40, K33, M14, N17, N27, N37, N57, N77, O55
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