China and Africa

chinaware and Africa Opportunities and Challenges Prof. Olu Ajakaiye Director of Research African Economic Research Consortium A Presentation at the African Union Task blackjack on strategic Partnership Between Africa and the Emerging Countries of the southmost Addis Ababa, Ethiopia 1113 September 2006 2 Introduction During the last 25 years, chinawares sparing has changed from a centrally planned system that was largely closed to international trade to a more market-oriented delivery that has a rapidly growing private sector and is a major player in the global sparing. Chinas reforms started in the late 1970s with the phasing out of collectivized agriculture, and expand to include the gradual liberalization of prices, fiscal decentralization, increased shore leave for state enterprises, the foundation of a diversified banking system, the development of monetary fund markets, the rapid exploitation of the non-state sector, and the opening to foreign trade and enthronization (China online, 2006). The restructuring of the economy and resulting efficiency gains have contributed to a more than denary increase in Chinas GDP since 1978.

operational data shows that as at 2004, China was the fifth largest economy in the world; but the 129th in per capita terms as it harbors over 20% of the world population (World Development Indicators, 2006). Nevertheless, Chinas achievement in poverty reduction is strange as it reduced the percentage of its population living on $1/day from about 33% in 1990 to 14% by 2002. Chinas economy grew by 9.9% in 2005 and according to the Central Bank of China, it is projected to grow by 9.2% in 2006. Indeed, according to The Economist issue of September 9-15, 2006, as at the second quarter of 2006, China had recorded 11.3% growth rate which is not only the highest in the world so far this year but also suggesting that China may exceed the projected growth rate for this year. The upshot of the antedate is that Chinas role in the global economy has become very... If you want to get a full essay, pasture it on our website: Orderessay

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