China’s growing role in Africa is not transitory. As China-Africa economic relations are increasingly based on trade and investment, and trade is based on more than just commodities, the relationship is likely to expand, along with economic growth in China and Africa. Economic relations are increasingly dominated by commercial ties rather than by aid considerations (Box 2).
The private (more broadly, the corporate) sector, rather than government ministries, is increasingly the engine of economic exchange between China and Africa. The future of China-Africa economic relations will thus be shaped by shifts in comparative advantage and changes in global supply chains. This underscores the importance of improving the investment climate and strengthening the regulatory framework, particularly in Africa, to achieve win-win outcomes.
Issues of debt sustainability, governance reform, and environmental protection are associated with new lending and investment in Africa. These issues need to be addressed based on shared information, collaboration, and coordination between host country authorities and their development partners.
IMF Working Paper African Department What Drives China’s Growing Role in Africa?
Prepared by Jian-Ye Wang October 2007
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