Second China-Africa Economic and Trade Expo to commence
The three-day Second China-Africa Economic and Trade Expo will begin today in the capital of China’s Hunan Province.
This year’s expo expects to see over 9,000 attendees, with Algeria, Ethiopia, Kenya, Rwanda, South Africa and Senegal as the guests of honor. In anticipation of today’s expo, China announced the creation of 25 African trade and economic zones.
Envisioned by Xi Jinping as a way to foster China-Africa trade and economic relationships, the 2019 expo saw $20.8 billion worth of cooperation deals signed—China expects to ink roughly $15.93 billion in 176 different projects this year.
Africa is a battleground for influence between the East and the West. China’s approach has been to promote its vision of “win-win” economics to develop ties with African countries eager to industrialize their economies, while the West tends to focus on humanitarian aid and physical security. China’s approach has been successful, becoming Africa’s largest bilateral trading partner and building its first overseas military base in Djibouti.
Expect China to focus on developing projects with Ethiopia during the conference. Ethiopia’s Grand Ethiopian Renaissance Dam is set to be the energy generation nexus of Eastern Africa, which will be critical to fueling regional developing industrial economies.
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