Reported 7 months ago
After the global COVID-19 lockdown, Chinese investment in Africa surged with a 114% increase last year, focusing on energy transformation and minerals/oil to boost China's slowing economy, but lacking diversity in imports like agricultural products and manufacturing goods, causing a trade imbalance as Africa's deficit in trade with China continues to grow. Despite Chinese efforts to diversify imports from Africa, the trade deficit remains large. China's focus on mineral and oil trade with Africa has drawn comparisons to colonial-era economic relationships, with little change in sight. The article also notes China's ongoing infrastructure investment projects in Africa, primarily funded through sovereign loans, but some analysts express concern over the one-sided nature of the trade relationship.
Source: YAHOO