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Global financial crisis risks Sino-African trade
Thu, 09 Oct 2008 16:32
By TradeInvestAfrica Staff


The global financial crisis will affect trade between China and Africa, but the Chinese say they will prove their worthy friendship by expanding investments in the continent.

 

Sino-African trade reached $74-billion in the first eight months, up 62% from a year earlier.

 

The head of the Africa Department at China’s ministry of Commerce Zhou Yabin called African officials and reporters to say the terrible global financial conditions would definitely affect his country’s trade with Africa.

 

China would however encourage businesses to increase their investment in Africa in sectors such as infrastructure, financial services and energy. 

 

Analysts expect the international financial crisis to weaken Africa's links with the West and drive it towards other emerging markets, especially China.



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