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As African Presence Grows, China Should Become a Better Stakeholder

Tuesday, May 29, 2007

From May 16-17, Shanghai hosted an annual meeting of the Board of Governors of the African Development Bank (AfDB). The Bank's decision to meet in Asia for the first time in its history testifies to China's growing hold over the African continent.

During the past decade, China's political, economic, and military presence on the continent has surged. Notwithstanding Africa's declining share in world commerce, trade between Africa and China rose approximately 30 percent during each of the past five years. It now exceeds $50 billion annually, making China Africa's third-largest trading partner. Sub-Saharan Africa currently supplies about 30 percent of China's oil, with Angola's recently replacing Saudi Arabia as the largest national exporter of oil to China. Besides oil, Chinese importers purchase other African natural resources including timber, magnesium, and aluminum. ...

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