Africa Emerges as China and India’s New Economic Frontier
By Harry G. Broadman, World Bank, September 16, 2006
Chinese and Indian firms are increasingly doing business in Sub-Saharan Africa, and their interest in the continent extends well beyond a hunt for natural resources, a new World Bank study says.
Exports from Africa to Asia tripled in the last five years, making Asia Africa's third largest trading partner (27 percent) after the European Union (32 percent) and the United States (29 percent), according to Africa's Silk Road: China and India's New Economic Frontier. Indian and Chinese foreign direct investment also grew, with China's amounting to $US1.18 billion by mid-2006, notes the study.
>> View Article | created on: 09/22/2006
