China's domestic investment to promote Nigeria's export growth rate increased by five percentage points
According to local media reports in Nigeria, the International Monetary Fund study shows that over the past 15 years, China in factories, buildings and other fixed assets investment accumulation to Nepal's export growth rate increased by five percentage points.
The report shows that this situation is not limited to Nigeria, for Africa, China's domestic investment in fixed assets increased by one percentage point, to promote exports of sub-Saharan African countries, an average increase of 0.6 percentage points.
Other oil-rich countries in the region's exports have also taken advantage of China's domestic investment. The report shows that China's investment in fixed assets has an impact on the growth rate of the export of Congo (Brazzaville) by 12%, Angola 10%, Gabon 6%, Chad 7%, Equatorial Guinea 4% and Cameroon 10%.
Countries that are not very rich in other resources in the region are also benefiting from China's fast-growing domestic investment. China's domestic investment has the highest impact on the growth rate of Comoros exports, reaching 22 per cent, while Burundi has the smallest impact, only 2 per cent. The impact on Malawi is 18 per cent and in Kenya 15 per cent.
Angola, South Africa, Congo (Brazzaville), Equatorial Guinea and the Democratic Republic of the Congo (DRC) are the most resource-rich countries, with an increase of 0.8 percentage points in each country's growth in domestic investment by one percentage point.
Experts believe that this situation, the effect of different groups of different countries. For example, for the resource-rich countries of the sub-Saharan influence is large, their exports to the region's share of China is relatively large. By studying the impact of Chinese investment on global economic growth and commodity prices, it is found that some effects are not straightforward, but direct trade links are also important.
Closer ties with China support the economic development of sub-Saharan African countries, but there are some worries that if China's growth slows or demand changes, the region's development will be affected.
In recent years, China has become the region's largest trading partner and important investor and aid provider. Recently, China has also become Nigeria's major trading partner, according to official data, China's exports to Nigeria accounted for 18.2% of total imports of Nigeria.
According to China's customs data, bilateral trade between China and Nigeria in 2013 reached 13.6 billion US dollars, an increase of 28.5%. Among them, China's exports to Nigeria $ 12.05 billion, an increase of 29.4%; imports from Nigeria $ 1.54 billion, an increase of 21.9%. Investors are happy about the close trade relationship between the two sides, but also for the Nepalese domestic market by the impact of Chinese goods feel depressed.
Experts believe that Nigeria has the opportunity to develop from the impact of China's economic growth, but not fully this opportunity into a reality. There are many things to do in Nigeria, policy innovation, institutional setting, human capital training, entrepreneurial growth, cultural and leadership development, to maximize the benefits of China's economic growth to bring Nigeria. Above all, Nigeria needs a comprehensive strategy to more effectively balance trade with China and to create a sustainable development plan that can benefit its citizens through its own efforts.
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