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Tuesday, June 5, 2018

Economic security

How China is Transforming Africa Into 'New Factory of the World'

Chinese workers pose at the inauguration site of a train linking Addis Ababa to Djibouti, 20 kilometres from the centre of Addis Ababa on October 5, 2016China's decade-long assistance to Africa has borne tangible results with thousands of kilometers of new railroads and dozens of ports, airports and power stations built due to Beijing's investment projects. According to some researchers, Africa may emerge as a new global powerhouse.
China has been facilitating Africa's rise as a potential "global manufacturing powerhouse," insists Irene Yuan Sun in a new book eloquently titled "The Next Factory of the World."
The book reveals how Beijing is now sharing its experience and best practices with the African continent, having transformed its own country into a production workshop over the past few decades.
According to research from the Russian International Affairs Council (RIAC), China has become the main trade partner of African countries since 2009. While in 2000 the total turnover between China and African states amounted to just $10 billion, the figure skyrocketed to $220 billion by 2014.

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