CREATING REAL VALUE
It is no secret that China has been honing in on Africa for its abundant natural resources and vast space. Kuban highlights the fact that China’s trade with Africa ballooned from $10bn in 2000 to an estimated $200bn in 2013 – four years after it overtook the United States as the continent’s largest partner. (As an aside, there are now estimated to be over 1m Chinese in Africa – up from just a few thousand a year ago.)
While Kuban acknowledges the myriad benefits of Chinese interest in A frica and the i nf low of private funds (such as much needed infrastructure development), he cautions that local governments must strive for ‘ long-term benefits’ – such as creating employment and the concentration of added value, instead of merely gunning for the quick and easy gains.
“Africa manufacturing has established mostly around the extraction of mineral resources in the past, and Chinese FDIs [foreign direct investment] contributed a lot