Africa looks to China for growth
Africa is banking on the growth of the Chinese economy to lift demand for commodities, according to African Development Bank chief Donald Kaberuka.
He said the growth of Africa “is very much driven by China’s demand for commodities” and pointed to growth targets of eight percent for China this year.
“If the Chinese economy continues on this trend, that would signal growth for African economies in the coming year,” said Kaberuka.
He expressed confidence that if China reached double-digit growth, it would lead to six percent growth for Africa, a pre-crisis figure.
Trade between China and African nations rose by 45 percent in 2008, according to Chinese records.
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