Abstract
Asia continues to accelerate the shift of the global economic centre of gravity through sustained growth and the development of consumer economies; investors unwaveringly continue to seek exposure to the region for diversification and returns. As the economic realignment from West to East has been steadily unfolding over the past decade, the long-term trend remains clear that the region’s growing population will drive growth over the foreseeable future. Economies within Asia are projected to expand through continued industrialisation and development of infrastructure, a rising middle-class consumer society, and increased production and export of natural resources. Although China is a symbol of the shift in global economic power away from the developed G7 economies, China has experienced rapid double-digit growth over the first four decades of its reform period, fuelled by exports and manufacturing through an investment-driven growth model. However, there has been no shortage of desire for development among African countries, yet it is quite hazardous to talk of development strategies in Africa. It is on this ground the chapter seeks to find out the possible challenges bedevilling African industrialisation process.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Abutu, L. O. (2014). From non-interference to preponderance: China’s future grand strategy in Africa. Stellenbosch: African East-Asian Affairs, Centre for Chinese Studies, Stellenbosch University.
Aka, C. (1996). Democracy and development in Africa. Ibadan: Spectrum Books Limited, Spectrum House.
Akukwe, C. (2013). Africa’s challenges for 2013: What political and developmental challenges are likely to confront Africa over the next 12 months? See online http://thinkafricapress.com/development/africa-2013-development-challenges. 29 Jan.
Bai, Y. (2013). China: An emerging economic power. Retrieved from http://english.cntv.cn/program/china24/20130306/106603.shtml. 23 Mar 2015.
Balaam, D. N., & Veseth, M. (1996). Introduction to international political economy. Upper Saddle River: Prentice Hall.
Bariyo, N. (2014). China deploys troops in South Sudan to defend oil fields, workers: Deployment marks sharp escalation in Beijing’s efforts to protect interests in Africa. See more http://www.wsj.com/articles/china-deploys-troops-in-south-sudan-to-defend-oil-fields-workers-1410275041#. 18 Mar 2015.
BBC. (2014). Nigeria becomes Africa’s biggest economy. See http://www.bbc.com/news/business-26913497. 10 Apr 2015.
Corden, W. M. (1971). The effects of trade on the rate of growth. In J. Bhagwati, R. W. Jones, R. A. Mundell, & J. Vanek (Eds.), In Trade, the balance of payments, and growth. Amsterdam: North-Holland.
Dellios, R. (2005). The rise of China as a global power. Gold Coast: The Centre for East-West Cultural and Economic Studies, The School of Humanities and Social Sciences.
Dickson, A. K. (1997). Development and international relations: A critical introduction. Cambridge: Polity Press.
Elwell, C. K., & Labonte, M. (2007). Is China a threat to the U.S. economy? Retrieved from http://congressionalresearch.com/RL33604/document.php. 15 Mar 2015.
Farah, I., Kiamba, S., & Mazongo, M. (2011). Major challenges facing Africa in the 21st century: A few provocative remarks, at the international symposium on cultural diplomacy in Africa – Strategies to confront the challenges of the 21st century: Does Africa has what is required? Berlin.
Finintell. (2015). Nigeria’s trade relations: New landscape between the West and the Chinese. See online http://www.myfinancialintelligence.com/banking-and-finance/nigeria%E2%80%20%99%20s-trade-relations-new-landscape-between-west-and-chinese. 11 Apr 2015.
Fowale, T. J. (2012). China’s military presence in Africa: How has this trade evolved since the cold war? Retrieved from https://suite.io/tongkeh-joseph-fowale/1szq26r. 18 Mar 2015.
Frank, C. R., Kim, K. S., & Westphal, L. (1975). Foreign trade regimes and economic development: South Korea. New York: NBER.
Gilpin, R. (2000). The challenge of global capitalism in the 21st century. Princeton: Princeton University Press.
Gilpin, R. ( 2001). Global Political Economy: Understanding the International Economic Order, Princeton: Princeton University Press.
Gordhan, P. (2007). An emerging new world order. See online http://www.aucegypt.edu/gapp/cairoreview/Pages/articleDetails.aspx?aid=75. 17–18 Mar 2015.
Heakal, R. What is an emerging market economy? See online http://www.investopedia.com/articles/03/073003.asp. 15 Mar 2015.
Heakal, R. (2009).What is an emerging market economy? Retrieved 15 March, 2015. See https://www.scribd.com/document/130170836/India-Factors-that-Made-it-an-Emerging-Economy
Hong, W. (1979). Trade, distortions and employment growth in Korea. Seoul: Korean Development Institute Press.
Hong, W. (1987). Export-oriented growth and trade patterns of Korea. Chicago: University of Chicago Press.
Kaplinsky, R. and M. Morris (2006b), “The Asian Drivers and SSA; MFA quota removal and the portents for African industrialisation?”, paper prepared for Asian and Other Drivers of Change Workshop, St. Petersburg, mimeo, Brighton: Institute of Development Studies.
Krueger, A. O. (1977). Growth, distortions and patterns of trade among many countries (Vol. 40). Princeton: Princeton Studies in International Finance.
Mann, N. (2012). The economic shift from west to east, from http://www.brightonhouseassociates.com/web/the-economic-shift-from-west-to-east/. 8 July 2015.
Par Hynes, M. H. A. (2007). China: The emerging superpower. Retrieved from http://fas.org/nuke/guide/china/doctrine/0046.htm. 17 Mar 2015.
Parker, G. (2015). ‘Germany, Italy and France Defy US to Join China-Led Development Bank’: A growing economy and trillions in reserves make China the new popular kid on the block. See online http://russia-insider.com/en/2015/03/17/4599. 23 Mar 2015.
Parker, G., Chassany, A-S., & Dyer, G. (2015). Europeans defy US to join China-Led development bank. See online http://www.ft.com/cms/s/0/0655b342-cc29-11e4-beca-00144feab7de.html#axzz3V63FXppN. 22 Mar 2015.
Sandrey, R., & Edinger, H. (2011). China’s manufacturing and industrial tion in Africa (Vol. 128). Tunis: African Development Bank.
Tankeu, E. (2007). From Commodities to Higher Value Products: Africa’s Challenge for Sustainable Growth and Development in the 21st Century. Retrieved from http://www.unido.org/fileadmin/import/83887_070924_DGstatement_ExtraordinaryCAMI.pdf
The Economist. (2013). When giants slow down: The most dramatic, and disruptive, period of emerging-market growth the world has ever seen is coming to its close. Retrieved from http://www.economist.com/news/briefing/21582257-most-dramatic-and-disruptive-period-emerging-market-growth-world-has-ever-seen. 16 Mar 2015.
United Nations Conference on Trade And Development (2012). Statistics: UNCTAD.org. Retrieved June 15, 2015, https://unctadstat.unctad.org/TableViewer/tableview.aspx?Reportid=88
United Nations Economic and Social Council Economic Commission for Africa. (2013). Industrialization for an emerging Africa. http://www.uneca.org/sites/default/files/document_files/industrialization-for-an-emerging-africa-issuespaper.pdf. 23 Mar 2015.
United Nations Economic Commission for Africa. (2013). Industrialization for an emerging Africa. Abidjan
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2017 The Author(s)
About this chapter
Cite this chapter
Okolo, L. (2017). Introduction: The Global Shift in Economic Power to Asia and the Challenges of Africa’s Industrialisation in the Twenty-First Century. In: Kim, YC. (eds) China and Africa. The Palgrave Macmillan Asian Business Series. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-47030-6_1
Download citation
DOI: https://doi.org/10.1007/978-3-319-47030-6_1
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-47029-0
Online ISBN: 978-3-319-47030-6
eBook Packages: Business and ManagementBusiness and Management (R0)