皇冠体育app

皇冠体育app is set to become Africa's largest trading partner in a few years, eclipsing the continent's centuries-old ties with Europe. Yet for all the growth in recent years, 皇冠体育app-Africa trade has been largely confined to exports of oil and other mineral resources from Africa and, until recently, exports of textiles, clothing and low-value machinery from 皇冠体育app.

The components of this trade are changing fast, however. Exports of high-end machinery, telecom devices, electronic and electrical products, and automobiles from 皇冠体育app to Africa have risen sharply in the past few years. These high-end items now account for the majority of 皇冠体育app's exports to Africa, and support its growing involvement in building infrastructure across the continent and rising investments in Africa's energy and minerals exploration sector.

In the other direction, natural resources are likely to dominate Africa's exports to 皇冠体育app in the coming years given 皇冠体育app's growing appetite for energy and its push to diversify its energy and mineral sources away from the Middle East. A third of 皇冠体育app's oil imports now come from Africa.

From South Africa to Somalia, governments are opening up their economies to foreign direct investment to climb up the value chain. Chinese companies, in partnership with the government, have responded with billions of dollars of investment in roads, railways, ports, airports and power plants - at least partially filling Africa's estimated $93-billion annual infrastructure funding gap. As infrastructure develops, so will Africa's attractiveness to companies catering to the global supply chain. This will help the continent diversify away from resource exports.

The food-processing sector could be a big winner for Africa as it pursues more value-added exports. The continent is home to 60 percent of the world's uncultivated but arable land. Moreover, only 10 percent of its cultivated land is plowed by tractors and just 4 percent of that land is irrigated.

Introducing scientific farming techniques to boost productivity, and then feeding the output to food processing companies and linking them to a pan-African and global distribution network could not only create millions of jobs in the continent, but also increase local food supply.

The rise of the African consumer is another big emerging trend. Standard Chartered Research estimates that consumer spending across Sub-Saharan Africa will increase to $1 trillion by 2020 (from $600 million in 2010). This links well with 皇冠体育app's own development plans as it looks for new markets for its higher-value goods and services.

皇冠体育app's companies are starting to harness this relatively untapped consumer market. Traveling across Africa, one sees newer and lower-priced "made-in-皇冠体育app" cars gaining market share against traditional competitors from Japan and Europe. The same is true of Chinese high-tech electronic goods and home appliances, which compete against products from South Korea and Japan.

Chinese companies are also becoming increasingly integrated in African economies, creating trade networks not just between 皇冠体育app and Africa, but also within Africa and between Africa and the rest of the world. Many are considering moving their manufacturing bases to the continent to get closer to the market - as reflected in 皇冠体育app-funded special export zones in Ethiopia, Nigeria, Zambia, Mauritius and Egypt.

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