The rise of China may well be the most significant trend today redefining the geopolitics of Asia and the world beyond. This reflects in the influx of economic activities from various foreign investors who are attracted to the existence of a market for their products and services in the over 1.3 billion populated country. This also has some connections with the country’s investments in other countries such as Sub Saharan Africa. For example Africa supplied 77% of oil, 13 % of metalliferous ore, 3% of cotton, 2% wood, 3% pear and precious stones to Chinese economy, and on the demand side African economy sourced 5% industrial equipment, 7% electrical appliances, 8% telecommunication equipment, 8% transport vehicles, 14% clothing wares, and 16% textiles from the Chinese economy. Essentially, this significant development about China has been severally linked to its ‘open-door policy’ which took effect from the 1980s
Although, Sino-Nigerian economic interdependence has grown exponentially over the past few decades, the contemporary waves of diplomatic relations appear to a reasonable extent mutually beneficial. Nigeria’s quest for development with an aggressive campaign for FDI as one of the motivating forces has opened the economy which China is seen as an ideal business partner. Accordingly, this paper, through a critical review of the literature examines, and evaluates the opportunities and challenges abound in the nascent economic and trade relationships, and discusses the future prospects of the deals for the Chinese, Nigerian, and African socio-economic growth.
Key Words: Africa, China, FDI, Economic, Nigeria, Relations, Investments
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Background Information: China-Nigeria Relationship and the Open Door Policy
- China’s Trade and Investment Strategies in West Africa
- Highlights of China’s Trade and Investment in Nigeria
- Significant Implications of China's FDI on Nigeria’s Economic Development
- Opportunities and Challenges Stemming from Their Relationship
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper explores the contemporary economic development of West Africa, focusing specifically on the relationship between Nigeria and China. It examines the opportunities and challenges presented by China's growing economic influence in the region, particularly through foreign direct investment (FDI).- China's 'Open Door' policy and its impact on global engagement
- The dynamics of China-Africa economic relations
- The role of FDI in Nigeria's economic development
- The opportunities and challenges presented by China's investment in Nigeria
- The impact of China's economic influence on the socio-economic growth of Nigeria and the broader African continent
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter provides a general overview of the paper's focus, outlining the significance of China's economic rise and its impact on global geopolitics, particularly in relation to West Africa. The chapter highlights the growing interdependence between China and Nigeria, emphasizing the potential for mutual benefit.
- Background Information: China-Nigeria Relationship and the Open Door Policy: This chapter explores the historical context of China-Nigeria relations, tracing the evolution of their economic ties from the early years of China's "open door" policy. The chapter emphasizes the shifting dynamics of these relationships, from ideological solidarity to pragmatic economic cooperation.
- China’s Trade and Investment Strategies in West Africa: This chapter examines China's broader economic engagement with West Africa, outlining the key strategies and motivations driving its investment in the region. The chapter highlights the significance of natural resources and the role of China's involvement in shaping West African economies.
- Highlights of China’s Trade and Investment in Nigeria: This chapter delves into the specific details of China's trade and investment activities in Nigeria, providing a case study of their economic interdependence. The chapter discusses the key sectors of investment and the impact of Chinese capital on Nigeria's development.
- Significant Implications of China's FDI on Nigeria’s Economic Development: This chapter analyzes the impact of China's FDI on Nigeria's economic development, examining both the positive and negative implications of their relationship. The chapter explores the opportunities for growth and the potential challenges posed by China's presence.
- Opportunities and Challenges Stemming from Their Relationship: This chapter concludes the analysis by summarizing the key opportunities and challenges that emerge from China-Nigeria economic relations. It offers insights into the potential for sustainable growth and the need to address potential risks associated with China's influence.
Schlüsselwörter (Keywords)
This paper examines the contemporary economic development of West Africa, particularly the relationship between Nigeria and China. It focuses on China's growing economic influence in the region, particularly through foreign direct investment (FDI). The key topics explored include the impact of China's "open door" policy, the dynamics of China-Africa economic relations, the role of FDI in Nigeria's economic development, the opportunities and challenges presented by China's investment in Nigeria, and the impact of China's economic influence on the socio-economic growth of Nigeria and the broader African continent.- Arbeit zitieren
- Lawrence Okolo Abutu (Autor:in), 2012, The Contemporary West African Economic Development and its Relations with China, München, GRIN Verlag, https://www.grin.com/document/206203
