SOUNDBYTE TC IN (ENGLISH) DR. XN IRAKI, University of Nairobi Economist
I saw the report on Western media on BBC and other channels, that indicated that China is recording the lowest growth rate in 25 years, but when I looked at the data I realized that China is actually growing better than most world countries.
I don’t think the fundamentals of the Chinese economy have changed so drastically.
I think what is being recorded as a slow down in China’s economic growth rate, is probably a hiccup,I think its something that has happened just like any other economy, I see it as an adjustment and that should not alarm anybody because a growth rate of about 7 % is phenomenon and am sure every Country in the world is looking forward to having such a growth rate.
Actually some of the internal changes in china make Africa opportunities more important than ever before if you look for example the companies that were involved in China’ s investments and building of roads and bridges and ports they have amazing capacities and competitive advantage that suit Africa’s needs more of this Chinese companies have emerged after 20 years of almost 10% economic growth reshaped global investment trade and commercial codes they looking for new markets and new opportunities so they will look to sell to Africa rising markets.