Abstract
The Belt and Road initiative is one of the most important parts of China’s overseas business strategy. The African region is also included in the Belt and Road initiative. This paper aims to study the important position of Africa in the Belt and Road strategy through the economic cooperation and project construction between China and Africa under the framework of the Belt and Road. China-Africa cooperation has a long history. Africa has many limitations in infrastructure but rich in natural resources. China’s strong manufacturing system can both make full use of natural resources from Africa and invest in African infrastructure. In recent years, China-Africa cooperation has been deepening and expanding in scale. The Belt and Road Initiative has brought win-win results to China and Africa. As China consumes excess capacity and realizes the goal of Chinese manufacturing going global, African countries have achieved economic development, improved infrastructure construction and stride toward industrialization.
Highlights
The Belt and Road initiative is short for the Silk Road Economic Belt and the 21st Century Maritime Silk Road, which were proposed by Chinese President Xi Jinping in September and October 2013 respectively
This paper explores the background of the Belt and Road Initiative and Sino-Africa cooperation
It studies the Africa’s current situation of infrastructure, Africa’s comparative advantages and the situation of Sino-Africa cooperation, and draws the following conclusions: the current situation of African infrastructure is relatively poor, but Africa is rich in land resources, mineral resources and labor resources
Summary
The Belt and Road initiative is short for the Silk Road Economic Belt and the 21st Century Maritime Silk Road, which were proposed by Chinese President Xi Jinping in September and October 2013 respectively. The Forum on China-Africa Cooperation (FOCAC), a landmark in the history of the Sino-Africa relationship was created in 2000 as a platform for collective consultation and dialogue and a cooperation mechanism. The FOCAC and its activities are closely aligned with China’s Africa policy which was formulated in 2006 with the broad objective of enhancing all-round cooperation between China and Africa in such key areas as political, economic, education, science, culture, health, peace, and security. This paper intends to analyze the development of infrastructure, comparative advantages and cooperation with China in African countries, and study how China and Africa achieve a win-win situation through the Belt and Road, as well as the opportunities and challenges facing China
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