Trends and Prospects of Economic Cooperation Between China and Africa

Abstract:The article deals with some important aspects of economic cooperation between China and Africa in the historical context. Soviet–American competition for domination in Africa between the 1960s and 1980s is also discussed, as well as the reasons of the failure of Maoist China’s attempts to offer an alternative social and economic development model for African countries in the 1960s and 1970s. The rapid growth of the Chinese economy after 1978 created a considerable demand for new sources of raw materials. Africa appeared to be one of these sources. The disintegration of the USSR in 1991 in combination with the United States’ lack of interest in Africa in the 1990s provided additional opportunities for China to expand in Africa. Taking into consideration China’s promotion to one of the global superpowers and an increasingly important partner for Africa (which during the last several years has become one of the most economically dynamic regions), one might expect a future growing multidimensional competition for Africa between the United States and China (PRC).