African governments urged to engage China on business strategies
Tuesday 1 September 2015 18:19
Analysts have urged African governments to re-engage China to embrace the continent’s push to industrialise and diversify resource driven economies.
China prepares to stage a grand military parade in commemoration of the 70 anniversary of the anti-Japanese war and the end of World War 2.
The event which will take place at Tianamen Square in central Beijing on Thursday comes at the time when China is faced with a major economic slowdown in decades.
President Jacob Zuma will arrive tomorrow to take part in the celebrations.
China is Africa’s major trading partner with investments valued at over 20 billion US dollars.
The world’s second largest economy is involved in the construction of mega infrastructure projects like roads, rail, power stations and airports.
But its recent economic difficulties have negatively impacted on African markets and it could reduce its spending on the continent.
For many, this is an opportunity for African leaders to renegotiate trade and investments deals.
CEO Frontier Advisory Martyn Davies says:”What we are seeing now is that China is beginning to reduce off growth. So Africa and South Africa have to engage China through beyond the celebration taking place in Beijing this week.”
Business analysts say South Africa should do more to pressure China to support government’s mineral beneficiation programme.
Chairperson of Black Business Council George Sebulela says:”We want to encourage the Chinese to understand that our programme is not about taking all our minerals to China. We have to begin to impose local beneficiation as a primary objective to ensure that beneficiation is a major focal point for us.”
The country would want to forget about its economic difficulties.
It expects about 30 foreign leaders to descend on Beijing, among them President Zuma.
China may be currently experiencing economic setbacks, but it’s confident that this too, shall pass as it gets ready to welcome world leaders to showcase itself as an influential global player.
Original article at: http://www.sabc.co.za/news/a/db5dc98049b12370a1d5a9a84320b537/AfricanundefinedgovernmentundefinedtoundefinedengageundefinedChinaundefinedonundefinedbusinessundefinedstrategies-20150109
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