China and Africa Trade Relations

The world today is shrinking. Of course it is not literally, but technological advances make it easier to cross thousands of miles of land and sea, so people can communicate with each other soon. The Internet instantaneously connects the world, and the aircraft moves from one side of the world to the other side compared to the long and dangerous sea navigation in the past. People are constantly moving and moving, and they are constantly exchanging ideas and goods. Trade has always played an important role in the history of mankind.

Cooperation between economy and trade is an important part of the relationship between China and Africa and is an important part of South-South cooperation. Strengthening economic and trade cooperation between China and Africa is a common interest for both sides. In the 50 years since the People's Republic birth, two-way trade has grown year by year. According to China customs statistics, the total import and export trade in 1999 was $ 6.484 billion, an increase of 17.2% over the previous year. Looking at the breakdown, China's exports to Africa were 4,190 million dollars (up 1.3% year on year) and imports from Africa were 2,375 million US dollars (up 60.9% from the same period last year). From January to August this year, trade between China and Africa continued to expand rapidly, rising 67.2% to 6.72 billion dollars compared to the same period last year.

In 2011, trade volumes in Africa and China reached US $ 166 billion, an increase of 33% over the previous year. These include imports of $ 93 billion from Africa, including ores, oil and agricultural products, and exports of $ 93 billion to Africa, primarily including manufactured goods. A rapidly expanding trade overview between the continent of Africa and China During the first five months of 2012, trade volume between the two regions increased by 22% compared with the same period last year to US $ 80.5 billion. Africa's imports in the first half of 2012 increased by 25.5% to 49.6 billion dollars, while exports of Chinese-made products (machinery, electricity, consumer goods, apparel / shoes etc.) increased by 17.5% to $ 30.9 billion. China has become Africa's largest trading partner for the fourth consecutive year in 2011 (started in 2008).

In diplomatic and economic influx to Africa, Taiwan, the United States, France, the United Kingdom are the main competitors in China. In 2009, China surpassed the United States and became Africa's largest trading partner. China has signed a bilateral trade agreement with 40 countries on the African continent. In 2000, China's trade volume in Africa reached 10 billion dollars, and by the year 2014 it reached 220 billion dollars. In the 1970s, under the guidance of Deng Xiaoping, the People's Republic of China began pursuing market socialism. This shows the change in capitalist practice as the foundation of China's socio-economic development which began decades ago after the great leap forward. Since 1980, China has implemented policies for rapid modernization and industrialization, poverty reduction and the establishment of a strong industrial economic foundation.