China Lends Hand To Africa To Build Better Future
The China-Africa cooperation gives hope to Africa in alleviating the continent from the cycle of poverty within. World Bank report showed that 23 of the poorest country in the world are in the African continent.
The report reflected that about 400 million Africans earn less than $1.9 per day, the World Bank's international poverty line. It is estimated to be 30 percent of the total population of the African continent.
Africans views the China-Africa co-operation as a chance to escape from the grasp of poverty. China's Belt and Road initiative is welcomed by 37 countries so far. the belt and road project is aimed at improving the trade ties between Asia, Europe, and Africa through interconnected infrastructure projects.
Since the establishment of the Forum on China-Africa Co-operation (FOCAC) in 2000 in which China is one of the proponents, China has been announcing its investments on vital projects in African countries every three years. China's first invested $1 billion and it was increased to $60 billion in 2018.
Chinese president Xi Jinping proposed 10 development and eight support plans for the continent. The projects included large infrastructure projects. They also signed to co-operate in many areas including science and technology, education and culture, healthcare and tourism, peace and security, and the fight against poverty.
FOCAC acted as a significant mechanism to heighten the co-operation between Africa and China. The forum also showed the growing relations between the two sides. It is viewed as an important move to help Africa sustain itself as it emerges from poverty and into moving towards sustainable development.
The Belt and Road Initiative provides a great opportunity for African nations to trade in a wider international market. The African nations also attract foreign investors and technologies through the initiative and it is expected to help fund its infrastructure projects including the construction of ports, airports, railways, and roadways that might boost its economies.
Generally, African nations are dependent on the export of natural resources to assist their economic development. China is one of the biggest consumers of African products. The demand for the resources in China continues to increase as the Asian economic giant strives for world dominance in economics and in military might.
Analysts believe that China's demand for Africa's natural resources will achieve its strategic goals for the African countries that includes getting higher prices and maintaining a constant supply. African nations also benefit partnerships in many ways.