The 46th anniversary of Africa Day was celebrated in Beijing yesterday. Besides African envoys, it was attended by China’s State Councilor Dai Bingguo, who traced the long association between China and Africa and promised to drive their strategic partnership into new directions. The new type of partnership will be driven towards political equality, economic cooperation that is mutually beneficial, mutual trust and cultural exchange.
The process of economic integration continues in Africa and this is a step forward in its development. The two sides are also enthusiastically preparing for the fourth Ministerial Conference of FOCAC to be held in Egypt later this year.
China has changed its Africa strategy a little in the past few years. While economic support continues, it is now investing in projects where long term relations can be established. It is keeping a close watch on the political stability of African countries and pitching in to a far greater extent where this stability is evident. All Chinese ventures have not been successful and many have closed down in the last couple of years, but the success rate of Chinese ventures is far higher than that of other western nations. Africa in turn, banks on Chinese support and cooperation as well as technical advice to surge ahead and improve the quality of life of its people.
In the last decade, tens of thousands of Chinese people have uprooted themselves from their country and established their base in Africa. Statistics reveal that 750,000 Chinese and 900 Chinese companies are involved in investments worth $6 billion. They are involved in trade, agriculture, industry, mining, education, health and infrastructure projects. The sum total of Chinese interest in Africa is considered to be 50 times more than what it was twenty years ago.
Africa has benefited in many ways from this influx of funds and people. Its own work force has begun to get educated and its people now have access to better roads and communication networks, employment opportunities and, above all they are able to buy cheaper Chinese goods that have flooded all African markets. African land has been leased out to the Chinese, bringing in funds from a source that was not bringing significant returns.
Africa without Chinese support would have been reeling under the impact of the global economic slowdown and recession, but China has propped it up with its helpful stance and aid.
Source : Suppliers Africa
