A Brief Research On The Chinese Economic Aid To Africa

As a significant component of Sino-African relationship, the Chinese economic aid to Africa, since the 50s of 20th century, in order to meet the needs of times, the policy of Chinese economic aid to Africa has been changing accordingly. Before the launch of reform and opening policy of China, oriented by the proletariat internationalism, economic aids were made to Africa, giving supports to African people’s realization in national independence and liberation, which promoted China’s international prestige. All the mentioned above that has been done is of political attributes. After the start of reform and opening policy of China, under the principle of mutual benefits, the economic aid to Africa has contributed a lot to Africa’s construction and development of economy and society as well. Meanwhile, it also conforms to China’s economic benefits for having become a win-win cooperation that is of more economic purposes. At the beginning of 21s century, influenced by innovation, the economic aids to Africa have been endowed with many new ways such as financial discount and joint-venture collaboration, indicating that Africa and China have entered an all round stage of development.Viewing throughout the history of the development in terms of the Chinese economic aid to Africa, it has been found main factors that are influential to the economic aids read as follows:global situation, existing issues of Africa itself and those of Chinese economic and political interests. Despite the referred influential factors, a huge quantity of progress has been achieved which has lots of positive effects on both China, the benefactor and Africa, the beneficiary. However, Chinese economic aids to Africa are faced with a number of difficulties:i.e. the deficiency of laws for the economic aids, insufficient publicity, lack of diversity of aids, more uniformity and harmony needed to be strengthened, conflicts between non intervention principle and non disregard principle. Concerning the future economic aids to Africa, China must, on basis of the existing Eight Principles and Four Principles, make one step forward for Five Serves, which are, serve for China’s peaceful rising, serve for economic strategies of energy and resources, serve for strategies of development of foreign trade, serve for the Go-out Strategy of the overcapacity industry and serve for China’s reunification.Since the global financial crisis in 2008, the world’s economy has experienced violent upheavals. In spite of great progress we have made in China’s economy during the past 30 years, which has enabled China to gain the 2nd place in world’s biggest economies, China’s economy are threatened by huge risks and challenges. With the exterior output of capital by China’s overcapacity industries and the layout of economic strategies of One Belt and One Road Initiatives, impacts are certain to be created upon the methods of Chinese economic aids to foreign countries (including Africa) to look for new channels. Hence, it is necessary for us to continue to observe and research, under the trend of capital’s exterior output of China’s overcapacity industries and the significant strategic framework of One Belt and One Road Initiatives, how to make a better achievement for developing Chinese economic aids to African countries.