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China-Africa ties deepen as China eyes new markets and moves up value chain

Posted on 04 December 2012

Despite erosion of the cost competitiveness of China’s exports, expectations that China will sell less manufactured goods to Africa have proven misplaced as China’s exports to Africa are likely to have increased to over USD80bn while Sino-African trade is forecast to surpass USD200bn this year, up from USD166bn last year, according to a report co-authored by Standard Bank economists Jeremy Stevens and Simon Freemantle.
China continues to gain market share in Africa. Standard Bank estimates that 18% of Africa’s imports were sourced from China this year so far, up from 16.8% in 2011, 10% in 2008 and as low as 4.5% a decade ago, while Africa’s share of China’s exports is steadily gaining relevance, increasing from 3.3% last year to 5% this year………………………………………..Full Article: Source


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