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All Eyes on Xi: The Chinese 60 Billion Dollar Question and the Problematic of African Development
TNC ONLINE   2016-01-02 14:59:17 Author:Dunia P. Zongwe Source: Font size:[Large][Middle][Small]
Suggested Citation:  
Zongwe, Dunia P. (2015). All Eyes on Xi: The Chinese 60 Billion Dollar Question and the Problematic of African Development, Transnational Corporations Review, 7(4):395-410.
Transnational Corporations Review
ISSN 1918-6444 (Print), ISSN 1925-2099 (Online)
Edited by Ottawa United Learning Academy
Published by Denfar Transnational Development
Volume 7, Number 4, December 2015, 395-410

Author: Dunia P. Zongwe

Abstract: The highlight of the latest Forum on China-Africa Cooperation, held in South Africa in December 2015, was the pledge by the President of China, Xi Jinping, to grant African countries 60 billion US dollars in development assistance over the next three years. This article seeks to reflectively weigh the potential impacts of President Xi’s pledges on development in Africa in the short run and explore effective and viable strategies for making the most of these economic opportunities. It outlines traditional and innovative contractual models African and Chinese partners will be able to apply in order to achieve their stated development goals. These models include special economic zones, public-private partnerships, and resources-for-infrastructure contracts.

Keywords: China-Africa, Xi Jinping, contractual models, resources-for-infrastructure

Selected References

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Bruno, Michael and Jeffrey Sachs (1982). Energy and Resource Allocation: A Dynamic Model of the “Dutch Disease”, Review of Economic Studies, 49(5):845-849. DOI:10.2307/2297191


Corden, W. Max and Peter Neary (1982). Booming Sector and De-Industrialization in a Small Open Economy, The Economy Journal, 92(368):825-848. DOI: 10.2307/2232670


Farole, Thomas and Gokhan Akinci (2011). Special Economic Zones: Progress, Emerging Challenges, and Future Directions, The World Bank 2011.


Kuo, Lily (2015). China’s Xi Jinping Pledges $60 Billion to Help Africa Solve Its Problems Its Own Way, Quartz Africa, Dec. 4, 2015.


Nzau, Mumo (2010). Africa’s Industrialization Debate: A Critical Analysis, The Journal of Language, Technology & Entrepreneurship in Africa, 2(1):146-165.

Onishi, Norimitsu (2015). China Pledges $60 Billion to Aid Africa’s Development, The New York Times (U.S.), Dec. 4, 2015.  
Sanusi, Lamido (2013). Africa Must Get Real About Chinese Ties, Financial Times (U.K.), Mar. 11, 2013.  
Xi, Jinping (2015). President, People’s Republic of China, Working Together to Write a New Chapter in China-Africa Cooperation, Speech at the China-Africa Business Forum, Johannesburg, South Africa (Dec. 4, 2015). Available at: http://www.focac.org/eng/ltda/dwjbzjjhys_1/zyjh/.  

Zongwe, Dunia P. (2015). Seeing the Whole Elephant: A Comprehensive Framework for Analyzing Resource-for-Infrastructure Contracts as Intended by the Parties, Southern African Journal of Policy and Development, 1(2):38-48. 


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