Originally published on September 24, 2017
As the unfolding tariff war between the US and China looms ever larger, Africa finds itself in a bind as the world’s greatest superpowers vie for trade supremacy. While some say that Africa will be forced to pick sides, Africa wisely shows signs of wanting to maximise both partnerships. Yet recent events show Africa moving ever closer to Beijing while Washington undergoes an apparent crisis of confidence in its approach.
Isaac Kwaku Fokuo Jr., founder and principal at Botho Emerging Markets Group, commented: “Since China replaced the United States as Africa’s largest trading partner in 2009, its trade with the continent has soared by 83% from 2009 to 2011 and surpassed $200bn in 2013,” he says. “By contrast, US trade with the continent reached an all-time high of $105bn in 2008 and has fallen ever since. China has woken up to the promise of African economies while the US appears sluggish.”