China, a BRICS member, is negotiating new economic contracts with 53 African countries that eliminate all tariffs and provide special market access. The latest developments could significantly benefit all of Africa’s most developing countries (LDCs) and boost their respective economies. “China is ready to welcome quality products from Africa to the Chinese market.” The Ministry of Foreign Affairs said.
BRICS members’ tax-free market access to China allows African countries to rewrite policies that benefit two countries. The Xi Jinping administration has exploited its complaints about Trump’s policies, drawing double the emerging economy. A new Pew Research Center report shows that 66% of the country are not confident in Trump’s global policies. Only 24 countries show confidence in Trump and trust him. “Do what’s right in the world.”
China knows that a small number of countries from Africa are part of the BRICS bloc, which includes “partner countries.” South Africa, Ethiopia, Nigeria, Uganda and to some degree Egypt are all part of the same region. “This will prevent middle-income countries such as Kenya, South Africa, Nigeria, Egypt and Morocco from being tax-exempt from the Chinese market.” Hannah Rider, founder of Africa-centric consultant development and development, told Reuters he reimagined it.
China, a BRICS member, aims to lift Africa’s global position
At last year’s summit, BRICS member China pledged to invest $50 billion in the African economy over three years. Investments include infrastructure projects such as railroads, ports and tapping natural resources. African countries have agreed to funding agreements as investment inflows enter the border.
The US is keeping its distance from other countries, but BRICS member China is bringing them closer to its folding. Changes in global structure could provide BRICS with arm boosts as many countries follow in their footsteps. However, many critics point out that the policy is distorted in China’s favor and offers little help to Africa.
