The China Development Bank announced Friday
that it plans to increase investment in African agriculture, just as the continent has been trying to increase production and curb rising food prices and shortages.
This is good news for Africa’s poor. Soaring food prices and shortages have made life more difficult for hundreds of millions people living on the margins. Agricultural investment is seen as an urgent priority for the continent.
But this announcement is another sign of China’s growing influence in region. China has invested heavily in African oil and minerals as it secures the natural resources necessary to fuel its exploding economy. This has created a boom that is driving rapid growth in Africa.
China is also using its diplomatic clout to help some of its African friends in the United Nations, often to the chagrin of the United States and the West.
Filed under: Africa, China, Economics, Global Food Crisis, Globalization, News | Tagged: Africa, China, food prices, Global Food Crisis, Globalization, United Nations
