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Submitted by Hudson Lucky Masheti on
Across Asia, the emergence of China as an economic power – face spells opportunity for world economies. China's global economic indicator of GDP supersedes other international economies by 8% per annum on domestic economic development especially; labour, industry, human resource and environmental refugee policy. Alone among developing Nations, China commands attention and awe. China’s size and rapid growth have deepened in the sense that, the People’s Republic will inevitably draw market share and Foreign Direct Investment (FDI) away from its neighbors (Africa). The year 2001, China garnered almost US$ 47 Billion in (FDI) up tenfold since 1990 – in anticipation of greater market access once it joined (W.T.O.) in December. Asia’s experience shows that Africa’s challenges in accelerating economic development can be overcome. On the other hand, Africa’s share of World Trade needs to be improved because it has plamented since 1960’s. The erosion of Africa’s World Trade share between 1970 and 1993 presents a staggering annual income loss of US$ 68 Billion. Africa’s diverse economies reveal opportunities and challenges, where growth is not sufficient for poverty reduction but it is essential. Savings must increase while also allowing consumption to rise fast enough to reduce poverty. Where degraded infrastructure has emerged as a critical barrier to growth. I applaud the Chinese theme “ AN OPENING CHINA NEEDS THE WORLD, AN ADVANCING WORLD NEEDS CHINA”. And I am extremely impressed by the caliber of the Chinese leaders whom I have read about in the subjects of: - Beijing, an Ancient Capital embracing the New Millennium with the Honorable Liu Qi, Mayor – Beijing. Realizing Jiangsu’s Cross Century Target by the Honorable Ji Yunshi, Governor – Jiangshu Province. Hainan Province “A Shining Pearl” embedded in the South China Sea by the Honorable Wang Xiaofeng, Governor – Hainan Province. Opening up Sichuan, a Hot Land for Investment by Honorable Li Dachang, Vice Governor – Sichuan Province. Shenyang – Development for the People by Honorable Mu Suixin, Mayor, Shenyang. China’s Future from its Special Economic Zone by Honorable Li Zibin, mayor – Shenzhen. Beijings Business Connection by Honorable Yao Wang, President Beijing sub council for the Promotion of International Trade. Shanghai, in the words of Honorable Xu Kuaongdi, Mayor Shangai; entitled “The Future of China's Economic Center” people are the bedrock of development. China Council for the Promotion of International Trade in the words of Honorable Yu Xiaosong as the President of the Expanding International Trade Council, cannot be underestimated, In this respect, the developing countries needs to adopt the China’s Miracle by depending on continuous technological innovation, industrial diversification and upgrading, move from agriculture to non Agricultural and manufacturing sectors and impress the market economy. Hudson Lucky Masheti Kenya (East Africa)