IN the last 15 years, increasing trade between China and Africa has sparked significant job creation and improved living standards across the continent, according to Professor XN Iraki, an economist from the University of Nairobi. Speaking to Chinese news agency Xinhua, Iraki pointed to balanced trade as a vital force in fostering a win-win scenario that benefits both China and African nations, enabling rapid development across multiple sectors.
Dialogue platforms as key connectors
Iraki praised platforms such as the Forum on China-Africa Cooperation (FOCAC), which provide critical opportunities for China and African countries to address trade challenges and explore new possibilities. ‘These platforms are essential conduits for aligning mutual interests and unlocking trade potential,’ Iraki explained, noting that Kenya’s participation in such dialogue is particularly beneficial as it allows for better collaboration and the pursuit of shared objectives.
Mutual benefits and quality trade standards
The economist highlighted China’s approach to trade, which prioritises top-tier products at competitive prices, free of tariff barriers. This model, Iraki said, not only enhances transparency in trade relations but also fosters a more balanced and mutually beneficial trade environment.
Reflecting on the shifting dynamics of global trade, Iraki applauded China’s substantial presence in African markets. He projected a positive future for trade between Kenya and China, with Kenya’s continued embrace of Chinese products and China’s commitment to delivering quality at affordable rates driving growth in both countries.
Investment and China’s role as ‘workshop of the world’
China’s position as the ‘workshop of the world’ has naturally attracted foreign investment to African nations, reinforced by efficient supply chains and a well-structured industrial system. Iraki noted that this economic prowess has also been instrumental in attracting substantial investment, which flows into Africa through various channels, further boosting local economies.
Visible and unconditional support
When comparing global partnerships, Iraki underscored the nature of China’s assistance to Africa, describing it as ‘unconditional and visibly impactful.’ He pointed out that China’s support often manifests through infrastructure projects, including roads and ports, which directly benefit African communities. Unlike some Western aid, which often comes with conditions, China’s approach allows African nations to grow without restrictive obligations.
Iraki’s analysis suggests a strong future for China-Africa relations, one built on shared interests, accessible trade, and a mutual commitment to economic advancement. As both regions explore new trade and investment opportunities, China’s engagement in Africa continues to shape the continent’s growth trajectory and elevate standards of living across various sectors.
Credit: Xinhua
