Economic and Trade Relationship Between China and Africa

3112 Words13 Pages
Since the founding of the People’s Republic of China, China and Africa have developed a long-standing friendship. This is evidenced by the cooperation in political, economic, and cultural areas. They have created a new type of strategic partnership based on political equality and mutual trust, economic cooperation and cultural exchanges. China has demonstrated respect for African countries by actively encouraging cooperation and providing aid between Chinese and African businesses. With china being the largest developing country and Africa being the continent with the most number of developing countries, their trade and economic relations have not only played a significant role in promoting their respective progress, but has also helped to win the attention and support of the international community to Africa's development. Currently, China is one of Africa’s most important trade partners. In this essay, I will endorse the understanding of China and Africa’s relationship. When the founding of the People’s Republic of China occurred in 1949, it also marked the initiation of China-Africa trade and economic relations. While African countries fought for national liberation and China worked to safeguard its own sovereignty and territorial integrity, they both supported one another by friendship and mutual trust. They laid a good political foundation for their future growth of trade and economic relationship. In 1955, Egypt ushered a new era of China-Africa cooperation when it became the first African country to establish diplomatic relations with China. In a condition where Egypt needed help resisting economic sanctions imposed by western countries, China purchased 13,000 tons of cotton from them. This led to a negation of a three-year trade agreement, putting economic relations on a continuing basis. This was the start of large-scale trade as the volume of
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