DEPENDING ON CHINA IS NO WAY TO GROW AFRICA Featured
AFRICAN leaders need to look beyond China for the continent’s long-term development. Next week, SA will be co-hosting the Sixth Forum on China-Africa Co-operation. While China’s relationship with Africa has broadly been beneficial, there are worrying movements in this tango.
It is widely recognised that Africa’s impressive economic growth between 2000 and 2007 was reinforced by China’s industrial growth and demand for commodities. Trade between China and Africa grew from $10bn in 2000 to $220bn last year, with China overtaking the US as Africa’s leading trading partner in 2009; foreign direct investment rose from $500m to $30bn during this period; and China’s official development assistance climbed from $500m to $3.2bn.