Africa should fully utilize economic opportunities presented by China, says expert
LUSAKA, March 27 (Xinhua) -- African countries need to utilize opportunities that China presents to boost economic growth on the continent, a peace and development expert said on Wednesday.
Lawrence Banda, who is Universal Peace Federation (Zambia Chapter) Vice Secretary General told Xinhua that many African countries are endowed with natural resources but lack the capacity to fully exploit them and bring about the much talked about economic development on the continent.
"We have the natural resources and China has the technology that can help transform our economies. So let us encourage more of our people to enter into partnership with Chinese companies," Banda said.
According to Banda, much of Africa remains underdeveloped because of lack of investment in key sectors of the economy such as manufacturing.
He said such challenges should not stop African nations from realizing their economic goals as there exist ways of addressing them.
"Things like setting up a manufacturing plant require huge capital investment which many countries may not have and partnerships exist to address such challenges," Banda said.
He also emphasized the need to have exchange programs with China, saying that China's ability to register economic wonders in record time is something that proponents of development consider a marvel.
Banda believes that exchange programs help to, among many things boost economies as they serve as platforms for exchanging innovative ideas.
"We need to learn what makes them to be so hard working, loyal and result-oriented and use the knowledge to better ourselves," Banda said.