China Sees Africa Trade Evolving Beyond Mineral Resources

China Sees Africa Trade Evolving Beyond Mineral Resources
Both China and the US are targeting Tanzania’s strategic position and its resources

AFRICANGLOBE – One of the biggest trends in global economic and trade ties in recent years has been the growing relationship between China and Africa.

Trade between the two reached $210bn (£125bn) last year – up from just $10bn in 2000.

Africa’s exports to China are increasing by 25% every year. In some African countries, those exports account for more than a quarter of their gross domestic product (GDP).

Murat Ulgen, chief economist at HSBC, told Asia Business Report that the relationship is evolving beyond one based on mineral resources.