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The Chinese Dragon Engages Africa
University of New South Wales, Australia.
Ministry of Education, Ghana.
Swedish School of Economics and Business Administration, Finland.ORCID iD: 0000-0001-5182-5203
2010 (English)In: Thirty Years of China's Economic Reform: Institutions, Management Organizations and Foreign Investment / [ed] Yue Wang, Prem Ramburuth, New York: Nova Science Publishers, Inc., 2010, 1, 155-167 p.Chapter in book (Refereed)
Abstract [en]

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.

Place, publisher, year, edition, pages
New York: Nova Science Publishers, Inc., 2010, 1. 155-167 p.
Keyword [en]
Business in Africa, China and Africa, China-Africa Trade
National Category
Business Administration Economics
Research subject
Economy, Marketing; Economy, Economics
Identifiers
URN: urn:nbn:se:lnu:diva-42238ISBN: 978-1-60876-908-7 (print)OAI: oai:DiVA.org:lnu-42238DiVA: diva2:803802
Note

Book Description: The rise of China as an economic superpower is one of the most dramatic developments in the history of capitalism. The transformation of the country from a closed planning economy to a dynamic capitalist society in the past 30 years can be broadly attributed to the changes in three broad inter-related areas: institutional reforms (especially at the level of governments), organizational innovations (especially the emergence of various private and hybrid management organizations), and foreign investment (especially the huge influx of FDI). This book is a collection of cutting edge research that reviews the path the country’s institutions and organizations have taken and the role of foreign investment has played during the past three decades.

Available from: 2015-04-13 Created: 2015-04-13 Last updated: 2015-09-17Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
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