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In reading Sun Yuans The following factory of the world: How Chinese investment is reshaping Africa, one can arrive at ideas about why capitalism continues to work and how society contributes to it. The author draws attention to the problems of the clash between the inner core of Africa and the progress China wants to bring there. The many investments and the expansion of Chinas influence over the whole continent could lead the community to a new stage of the social and industrial revolution. In addition, we can expect a change in the very perception of Africa at the global level. In this paper, I want to focus on Chinas place in shaping the globalized economy on the world stage and in Africa.
Sun Yuans work involves the analytical ability of the reader to understand and accept the new economic reality that Africa is striving for and being pushed into by China. Africas development has always been insufficiently stable, and China can now set its economy on a straight path. Sun Yuan points out that Chinese contractors and businessmen use China to form their sites and establish businesses (2017). Africans are working in their businesses, strengthening Chinas position within the continent. The African economy is collectively in crisis: not all countries are as successful as Egypt in turning money around. The role of Chinese entrepreneurs is to strengthen Africa as a trading point through duty-free trade opportunities (Sun Yuan, 2017). I think China will play an essential role in Africas future because the republic will be able to optimize industry and stimulate development toward technology. Chinas proposed work will help Africans avoid the critical consequences of poor schooling and higher education. Finally, Africa will embark on a path of economic growth as a single continent with opportunities in the form of an industrial revolution.
As part of the global implications of Chinas introduction into the African market and its interference in trade and economic routes, the world economy will be in limbo. Although China will strengthen its position, Africans may stall in technology development, and Chinas dominance will be less pronounced. As long as the republic grows crops in harsh Africa, its global status will suffer, if not decline, due to its inability to make risky deals. Consequently, Chinas dependence on services, factories, and businesses could translate into the collapse of small economies. The inability to engage in active trade will lead to a reduction in the number of world market leaders and an increase in accumulated debt. Moreover, America and Asia can be expected to refuse to cooperate directly with Africa under the guise of instability. Although they would be right, China would have to convince its business partners that it has a gold mine. Otherwise, Chinas integration into Africa can be expected to hurt international relations due to its high dependence on Chinas influence and opinion.
Thus, Sun Yuans book offers an opinion on Chinas role in shaping the economies of developing countries and the international trade arena. Chinas influence on Africa is evident: the country is likely to develop industry and switch to new types of production and technology. We can expect development if China manages to attract its global partners. As much as Chinese investors see Africa as a gold mine, it needs support establishing trade routes. China should consider the adverse effects of decreasing demand for its services and jobs.
Reference
Sun Yuan, I. (2017). The next factory of the world: How Chinese investment is reshaping Africa. Harvard Business Review Press.
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