The China shock comes to Africa
Summary
Subsidized imports from China are making it harder for African factories to grow. People are asking the United States to help by supporting the African Continental Free Trade Area and increasing private investment through the International Development Finance Corporation.Key Facts
- Chinese imports to Africa are subsidized, meaning China helps pay to keep prices low.
- These cheaper goods are hurting the growth of African manufacturing businesses.
- African Continental Free Trade Area aims to boost trade within Africa.
- The United States is encouraged to support this trade agreement.
- The International Development Finance Corporation can help by investing private money in Africa.
- More U.S. investment could help African industries compete better.
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