Is the Chinese economic influence on Africa becoming of a greater importance than that of the European Union ?

Details

Supervisors

Defraigne, Jean-Christophe

Faculty

Louvain School of Management

Degree label

Master de spécialisation en entreprises et politiques économiques européennes

Abstract

Since the beginning of the 21st century, China has managed to cement itself as one of the main economic partners of Africa, thus directly challenging EU’s hegemonic economic position on the continent. Yet, we were curious to understand to what extent exactly is China challenging the EU in what many people have called – perhaps cynically – EU’s historical backyard. Although it is not really surprising to see China’s economic footprint gain importance in Africa considering its specular economic development during the last 30 years, and the important role it plays today in global trade, one can remain skeptical on what a country can do in 20 years to overcome more than 100 years of economic and political privileges. Conversely, it would be an exaggeration to say that things have not changed since the independence wave of the 1960s. Even more so since that, from an economic point of view, the EU is, more often than not, lately described as an “ageing power” by opposition to a “rising China.” The question therefore remains: is the Chinese economic influence on Africa becoming of a greater importance than that of the European Union?