Friday, July 20, 2012

Beijing Eyes Deeper Sino-Africa Linkages

Beijing eyes deeper Sino-Africa linkages

Friday, 20 July 2012 00:00

CAPE TOWN — South African researchers said China is looking at Africa in a new way and pondering how it can help ameliorate economic headwinds with its African partners at a conference in Beijing.

The Fifth Ministerial Meeting of the Forum on China-Africa Co-operation, which opened in the Chinese capital yesterday, is expected to announce new measures to strengthen bilateral co-operation in trade, investment, finance and African integration.

At the conference, Beijing could demand more meaningful engagement between Africa’s private and public sectors on multilateral matters, South African Standard Bank research analyst Simon Freemantle and economist Jeremy Stevens said in a newly published report. The two researchers said the meeting was being held against a background of slower economic growth in China, higher economic uncertainties, increased risk of a hard landing, and more limited policy scope for Beijing to support the economy.

Meanwhile, Africa is becoming increasingly dependent on Chinese demand for its exports, they say. African commodity exporters are particularly vulnerable to a slowdown in the Chinese economy. Success is hinged on connecting Africa to global supply chains and boosting intra-African trade, while job creation and skill development should drive the policy agenda of participating African governments more meaningfully, the report says.

— Xinhua

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