China is expanding in Africa

The African-Chinese economic and trade network is expanding at a significant pace. African exports are essentially raw materials, while goods already processed are coming from China, but this is only the surface of the economic relations. Long-term commitment is provided by Chinese loans and investments, the main targets are countries rich in raw materials – origo.hu wrote.

China has put its foot on the African market when credit shortage occured in Africa, due to the 2008 financial crisis. The current developments are largely linked to the investments of the new silk road.

Most loans have been received from Beijing by Ethiopia, Angola, Kenya and Sudan, and China’s main target countries are Egypt, Nigeria and Algeria based on the number of Johns Hopkins research institute reported by the Financial Times. (origo)