The Chinese Dragon Engages Africa

• China and Africa have been trading partners for centuries, and China is now Africa's third-largest trading partner. This chapter explores the extent of China's economic engagement in Africa, its strategies and approaches, and implications for African development. The interpretative approach adopted in this chapter involves a comprehensive review of current literature, and draws on recent data to highlight China's activities in Africa and identify areas of expansion and development. Specifically, it draws attention to China's bilateral trade with Africa, and its growth from under $10 billion in 1995 to $106 billion in 2008. Currently, 80% of China's imports from Africa are from the extractive industry, and the most significant import is oil. China's intentions seem to be divided between acting as a facilitator for Africa's development and an extractor of its resources. It has adopted a "soft diplomacy" strategy in its pursuit of global growth, and is supporting the increased presence of Chinese SOEs and privately owned enterprises in Africa. Clearly, there are benefits to Africa's development. However, in weighing the benefits of China's engagement in Africa, African countries must consider issues of sustainability for long-term economic development and develop strategies to leverage the benefits of their rich resources, without being dependent on external agencies for their development.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Business Administration (hsv//eng)

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

Nyckelord

Business in Africa

China and Africa

China-Africa Trade

Marketing

Marknadsföring

Economics

Nationalekonomi

Publikations- och innehållstyp

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