The increasing importance of Chinese investment in sub-Saharan Africa
Many of its people are not happy about it, as our briefing reports, but business is booming in Africa thanks mostly to the Chinese. Trade between the two surpassed $120 billion in 2010, and in the past two years China has given more loans to poor, mainly African countries than the World Bank. The Heritage Foundation, an American think-tank, estimates that between 2005 and 2010 about 14% of China’s investment abroad found its way to sub-Saharan Africa. This has brought increased employment and prosperity to the region, but also allegations of damage to local businesses, corruption and the hoarding of natural resources.
Source: The Economist