Last year China exported goods worth $50.8 billion and the rise was estimated at a whopping 36.3 percent. The import of goods from Africa rose to 54% by a stunning $56 billion. These reports of February came from the customs data department and were reported by Xinhua, which is the Chinese news agency.
These kinds of investments will further secure China’s presence in the continent of Africa in the form of accessing its natural resources. This is benefiting Africa also, since it is getting good attention in the times of global recession.
China buys two thirds of Sudan’s petroleum exports. This has catapulted in the backing up of the dropping of criminal charges (by China) in the International Criminal Court, against Omar-al Bashir, who is the president of Sudan.
Chinese President Hu Jintao has come into an agreement with the state of Tanzania for providing loans to buy the equipment related to farm machinery. In addition the agreement will allow the Chinese advisors to provide support in developing the infrastructure. The Chinese president has assured Tanzania to import more of its goods from the country in order to help preventing it from swirling down the global recession.
Global recession is taking a toll on the world’s large economies. The smaller and the emerging economies like Africa are further succumbing to the pressure. More and more job cuts are creating panic and unless any other country helps it, this continent will face permanent depression. China is exactly doing that and becoming its benefactor. Recently, in February President Hu Jintao signed a mutual agreement in which Senegal, (another African country), will receive over $90 million in loans.
This year in January, Chinese Foreign Minister Yang Jiechi signed a bilateral agreement in which $90 million will be given to Malawi to construct hotel conference center in its capital city, Lilongwe. China is also providing support both technological and financial, in building Parliament House and an expressway linking Zambia to North of Malawi.
In July last year, Russia and China vetoed a UN Security Council resolution which recommended worldwide sanctions against President Robert Mugabe. The accusations against Robert Mugabe were of the nature of crushing the democratic rights and spoiling the nation’s economy.
Source : China Africa
