Growing Chinese influence in Africa
Chinese custom authorities reveal that the trade volume between China and Africa has been increasing 2011 by 31 % to USD 166.3 billion and China’s direct investment in Africa amounted to USD 15.3 billion or thirty times in one decade. In the past three years China became Africa’s largest trade partner
At past 112th Canton Fair in November African buyers had a share of over seven percent and this comes at no surprise because Africa likes the quality and the price level of Chinese goods.
The former Chinese deputy Minister of Foreign Trade, Wei Jianguo, estimated that China’s trade volume with Africa will reach 2012 USD 220 billion.