CHINA’S ECONOMIC SLOWDOWN AND IMPLICATIONS FOR AFRICAN ECONOMIES
Journal: International Journal of Humanities and Social Sciences (IJHSS) (Vol.8, No. 2)Publication Date: 2019-03-31
Authors : Igbatayo. S. A Babalola. O. O Makanju. A. A Anyadiegwu N. L; K. Y. Ekpeyong;
Page : 1-14
Keywords : China’s Growth; Africa; Trade; Investment; Development;
Abstract
China's emergent economic slowdown, from annual average growth of nearly 10% over the past twenty-five years; to less than 7% within the past four years, has created a ripple effect on the global economy through the following channels: trade, commodities and capital flows. The impact is particularly severe for China's trade partners around the world. In the African context, China's economic slowdown has undermined growth, which has been particularly robust in the past decade; reinforced by China's increasing demand for primary commodities. Several African countries are particularly dependent on primary commodity exports, which have been undermined by China's economic slowdown. The major objective of this paper is to assess China's economic slowdown, its impact on African economies. The paper employs empirical data, which reveal the considerable impact of China's slowdown on African economies. It reveals that China's recent economic slowdown has profound implications for African economies, many of which have relied on China for their primary commodities, including energy, solid minerals, and agricultural produce. Resource-dependent African nations relying on China's market are struggling with the consequences of China's declining growth, which has now defined the performance of the second largest economy in the world.
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