June 2006 – Issue 8

The World Economic Forum came to Cape Town, South Africa this past month. The key theme of this year’s WEF Africa Business Summit was China’s commercial engagement in the continent. A report generated by the organisation outlined a number of scenarios for China’s growth and the resultant impact of each on the African economy. China’s assertive and rapid move into African states’ economies is undoubtedly transforming the continent’s economic profile.

Discussion on China–Africa ties was not confined to the formal sessions. It dominated a large part of the fringe discussions at the Forum. But Africa’s take on its expanding commercial ties with China is still hesitant. Unlike Southeast Asia, Australia and New Zealand, African business has yet to embrace and align itself with China’s economic growth phenomenon.

In the late 1990’s former Singaporean Prime Minister Goh Chok Tong contended that China was both the greatest challenge as well as opportunity to the region. As China’s international commercial footprint has extended to Africa, the same sentiment is now in the minds of the continent’s policy makers.

The WEF provided an excellent platform to discuss Africa’s alignment to China. But the greater voice of Chinese commentators needs to be included in the debate and they were lacking at this year’s event. Hopefully the theme will be continued at the China Business Summit in Beijing later this year.

Download PDF – China Monitor – Issue 8 – Jun 2006