Analysis: Africa Engages with Open Eyes
Council on Foreign Relations
December 21, 2007
Author: Stephanie Hanson
A flood of new investment interest in Africa, particularly from the United States, China, and Europe, has been directed mainly at the continent’s commodities. Some of the world’s largest deposits of natural resources reside in Africa, and much attention has been directed at China’s pursuit of both oil and minerals on the continent. Yet Yang Guang, the director of the Institute of West Asian and African Studies at the Chinese Academy of Social Sciences, notes in an interview that U.S. investments in Africa have greatly eclipsed China’s. In 2006, Yang says, Chinese investment in Africa was roughly $11.7 billion, but U.S. trade with the continent was nearly $71.3 billion. Since the inception of the African Growth and Opportunity Act of 2000, U.S.-Africa trade has grown 143 percent.
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Copyright 2007 by the Council on Foreign Relations. This material is republished on GlobalSecurity.org with specific permission from the cfr.org. Reprint and republication queries for this article should be directed to cfr.org.
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