The co-operation declared among China and African nations last November in the Beijing Summit is yielding good results. China’s economic sense to understand the need of welding partnership with countries that possess immense natural resources is construed has communists have a different style of doing business. They never wait for their market to get saturated, unlike U.S.
China has chalked out a plan to build about five economic co-operation zones in Africa by 2009 to fuel uninterrupted supply of raw materials to the ever-hungry industry. This is likely to double the trade which has already touched $40 billion. The main aim of this economic co-operation zone is to train 15,000 African personnel to improve their economic condition prevailing in the region. An African fund of $5 – $6 billion allocated to kick start Chinese industries, will create jobs and ensure cultural ties among the participating economic nations.
China’s oil need is quenched by Africa to a great extend and since 1993 the demand has increased by 40%. China consumes 7 million barrels of oil per day; surprisingly they were able to do away with supplies from the U.A.E. It has acquired 35-45 per cent of Sudan’s oil production facilities in Sudan by vetoing a UN plan for peacekeeping force in Khartoum. This is a clear sign of how much China is permeated in the political system of African nations in a year’s time. This co-operation of socio-economic exchange initiated by China has paved way for other nations and blocs to foray into African markets.