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Find all the economic and financial information on our Orishas Direct application to download on Play StoreChina, the largest investor in African infrastructure, should play a key role in the continent's growth. But the factors behind the implementation of the Zlecaf raise questions about the impact of China-Africa cooperation. Chinese Foreign Minister Wang Yi said in November 2020 that his government would provide financial assistance and training to strengthen the capacity of the Zlecaf General Secretariat, led by Wamkele Mene.
In the absence of a continental manufacturing industry, China supports the implementation of the Zlecaf, which came into force on January 1. Beijing, the continent's largest trading partner, may not welcome strengthening intra-African trade, Zlecaf's primary objective, while some commentators say that Chinese products, often cheaper than African products, have hindered the development of chains of continental manufacturing and supply.
The rules of origin under the Zlecaf Treaty, although still under negotiation, will help shape the development of manufacturing on the continent. While Zlecaf is an ambitious project, “it will be at least ten years before it starts to look like the main engine of African trade. In its early stages, it won't cause too much trouble for China or anyone else,” says Stephen Chan, professor of global politics at the School of Oriental and African Studies in London. Thus, this agreement, which Beijing describes as a “win-win” solution, could one day hinder China's good business.
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