Editor’s note: With China becoming the world’s primary manufacturer, it makes perfect sense that Africa’s leadership would turn East instead of looking West for the same old economic results. This ‘race’ is a monumental shift that warrants further analysis. As pragmatic investors, we owe it to ourselves to investigate potentially lucrative investment opportunities coming out of Asia thanks, in part, to China’s meteoric rise.
China prepares to hold the Forum on China-Africa Cooperation (FOCAC) which is expected to bring together 51 African nations. Speaking to Sputnik, analysts pointed out that Beijing has become Africa’s biggest strategic partner surpassing the continents former metropolitan patrons including the United States.
“The ‘battle’ for Africa is underway, but in many ways it has already been won by China,” the analyst emphasized. “African countries’ traditional relations with former metropolitan [countries] and the US are giving way to cooperation with the People’s Republic of China (PRC). China is now dominant in Africa.”
The scholar pointed out that for a significant number of African states China has become the most important major strategic partner. He stressed that it is very important for the countries of the continent as they are benefitting from this collaboration a lot.
Beijing will host the Forum on China-Africa Cooperation (FOCAC) summit this year. Ahead of the event Foreign Minister Wang Yi kicked off his first 2018 Africa trip to Rwanda, Angola, Gabon and Sao Tome and Principe on Friday.
It has become a tradition for Chinese foreign ministers to visit Africa first each new year in order to demonstrate that relations with the continent are a priority for Beijing. This tradition has been kept for almost 28 years.