US, China have big role to play in African de­vel­op­ment

China Daily (Canada) - - BUSINESS -

The United States and China each have a role to play in the eco­nomic de­vel­op­ment of Africa, US Trea­sury Sec­re­tary Ja­cob J. Lew said, down­play­ing a sug­ges­tion that the US is los­ing the race to invest in the con­ti­nent. “There is po­ten­tial in the de­vel­op­ment of the African econ­omy for many other coun­tries,” Lew­said on Thurs­day at the Univer­sity of Pre­to­ria’s Gor­don In­sti­tute of Business Sci­ence in Jo­han­nes­burg when asked why Amer­i­can in­vest­ments have lagged be­hind those from China. “It’s not a ques­tion of should we be here, or should China be here, we both should be here.” China’s in­vest­ments in sub-Sa­ha­ran Africa have grown 40-fold since 2003, based on data from the Unit­edNa­tions Con­fer­ence on Trade and De­vel­op­ment. Lew­trav­eled this week to Egypt, Tan­za­nia and South Africa to talk with of­fi­cials about US-led ef­forts to boost growth. re­motely con­trol home hard­ware from their phones and tablets, Chief Op­er­a­tion Of­fi­cer Mark Ren said on Thurs­day at the Ten­cent Global Part­ner Con­fer­ence in Hainan prov­ince. The plan is to build up its ap­pli­ca­tion plat­forms, which Ren said have at­tracted 2.4 mil­lion third-party pro­grams.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.