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Much speculation on China's interest in Africa
Chinese President, Hu Jintao's trip to Africa has been a catalyst for much speculation on China's role on the continent. No other major power has shown the same interest in Africa. And Hu's recent trip - his fifth since 1999 and second in nine months - took him through eight African states in 12 days.
It came on the heels of the visit by Chinese Premier, Wen Jiabao, to seven resource-rich African countries in June last year, his third trip to the continent.
Compare that record to the only two official trips made to Africa by a U.S. president; those by presidents Clinton in March 1998, and Bush five years later. On paper it is all about trade and aid. At the China-Africa summit held in Beijing in November last year, Hu offered $5bn in loans and credit to Africa, along with a doubling of aid. During his recent trip, Beijing also announced that it would lend African nations $3bn in preferential credit over three years and double aid and interest-free loans at the same time.
But the figures do not tell the full story. The importance of Africa to China has to be understood in terms of China's own development path. In 1980, China's share of world trade was less than 1%, but by 2003 it had risen to 6%. And as the growth in the value of its exports slows, China needs to continue expanding its economy and cater for its 1.4 billion expectant citizens by vertical integration. To do that it needs to secure and acquire sources of raw materials. And this is where Africa comes in.
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