(NNPA)—Although the continent of Africa has 54 countries, the nation that received the most attention at last week’s US-Africa Summit in Washington, D.C. was China. That’s because the U.S. is trying to catch up with and surpass the Asian superpower.
Africa has six of the top 10 fastest-growing economies: Angola, Nigeria, Ethiopia, Chad, Mozambique, and Rwanda. From 2011-2015, Africa is expected to hold seven of the top 10 spots: Ethiopia, Mozambique, Tanzania, Congo, Ghana, Zambia and Nigeria.
Suddenly, instead of being viewed through the outdated prism of stereotypes—war, famine, disease, corruption— Africa is an attractive place to do business. That was evident when President Obama announced $33 billion in government and private sector investment in Africa—$12 billion in new commitments.
In a speech to nearly 50 African heads of state and top officials at the U.S.-Africa Summit, Obama said: “As president, I’ve made it clear that the United States is determined to be a partner in Africa’s success — a good partner, an equal partner, and a partner for the long term.”
The problem is that Africa already has a long-term partner—China.