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Roundtable Forum - CHINESE INVESTMENT - GOOD FOR AFRICA?

International Affairs Forum asked six analysts: "Chinese foreign direct investment in Africa reached $1.25 billion in 2006. Should those concerned with African economic development laud this, or be concerned?"

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Anonymous
Tue, June 30, 2009 10:07 AM (about 5 years ago)
In response to Andrew's question below, China's level of investment in Africa as compared to other regions (the rest of Asia, Latin America) is actually quite low. For Africa, its not the LEVEL of investment from China, but rather its RATE OF GROWTH, that is notably high. The rate of growth of Chinese outward investment over the past decade has been high for almost all regions, with Africa among the top. I think Andrew's question brings up a good point: from China's perspective, Africa is not alarmingly special; but from Africa's perspective, China plays a much more influential role. --Annah Peterson
Anonymous
Fri, June 26, 2009 11:10 AM (about 5 years ago)
Also, this may be of interest, from Chatham House: http://www.chathamhouse.org.uk/publications/papers/view/-/id/759/
Anonymous
Thu, June 18, 2009 05:55 AM (about 5 years ago)
I have a tangential question - are there other parts of the world we're not hearing about where China has a similar level of investment? -- Andrew Pickering
Anonymous
Tue, June 16, 2009 06:25 PM (about 5 years ago)
very good analysts
Anonymous
Tue, June 16, 2009 04:03 AM (about 5 years ago)
Excellent response, Sanusha and the others! As I said in my article on symmetry and soft power: Bodomo, A. B. forthcoming. Africa-China relations: symmetry, soft power, and South Africa. The China Review: An Interdisciplinary Journal on Greater China, Fall 2009 issue it is up to Africa (n leaders) whether this relationship remains beneficial, symmetrical, and symbiotic or not. After many years of colonial experiences with the West we should know better how not to get ripped off again with new partners, including China!
Mark Hendrick, British Member of Parliament

Response: Chinese investment is vital to African economic development. The huge inflows of Chinese capital dwarf that offered by multilateral agencies. In 2006 China’s EXIM bank committed $13bn to Africa – over twice the amount offered by the World Bank and since 2006 the Africa-China Development Fund has invested $400 million into the continent.

This vast amount of money has had a huge impact on infras... more

Jackie Li, The Beijing Axis

Response: During his visit to Africa in January 2009, Chinese Secretary of Commerce, Mr. Chen Deming proudly announced that China FDI stock to Africa exceeded U.S.$ 5 billion at the end of 2008 and that bilateral trade between China and Africa reached U.S.$ 106.8 billion in the same period. In February 2009, President Hu Jintao visited four West African countries and stated that ‘China will keep its promise... more

Sanusha Naidu, Fahamu, China in Africa Program

Response: 2006 is a long timeframe in China’s rapid footprint into Africa. In the intervening years until the global financial crisis struck, Beijing had not only increased its investment portfolio in Africa through the launch of its U.S.$5 billion China-Africa Development Fund, announced during the 2006 Forum on China-Africa Co-operation (FOCAC) Summit, but had managed to achieve more than U.S.$100 billion... more

Jing Gu, consultant

Response: Conventional wisdom about China’s investment in Africa holds that it is largely resource focused, conducted by large state-owned enterprises (SOEs), and driven by Chinese state economic security interests. There has been huge controversy about Chinese state agreements with, for example, the Congo, Zambia, Angola and Sudan over the price Africans get for their copper or oil and Chinese supposed ind... more

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