Chinese investemnt in Africa ‘exaggerated’
An Ethiopian researcher says it is the West, and not China, that still has the bigger economic impact on Africa.
The professor of economics at Addis Ababa University, Alemayehu Geda told China Daily that while the current spotlight might be on the impact of the world’s second-largest economy on the continent, it is former colonial powers and the United States that are the largest investors. “The conclusion one would make from all the media coverage and even the views of ordinary people is that China is this huge foreign investor
“Yet 90 percent of the (cumulative) foreign direct investment into Africa is still from the West, the United Kingdom, France and the US. China’s contribution is actually quite small. China combined with India is less than 6 percent. This gets lost in all the reports,” he says.
Alemayehu, who is regarded as a leading authority on the Ethiopian economy and a renowned development economist says China has had its biggest impact on just a narrow select number of resource-exporting countries.
The full story could be found at China Daily Africa website.