The 21st
century era of globalization has opened up many investment alternatives for
Africa. There is now a rush by governments and private companies to
expand in the rapidly growing region, to the extent that we can begin to talk
of a process of world-wide investment. Both traditionally powerful economies in the
West and emerging powers such as China and India have contributed to a vast
proliferation of investment, raising questions of what intense competition will
mean for Africa's economic development.
The Globalization of
Foreign Investment in Africa: The Role of Europe, China, and India compares
the differing approaches between Asian and European players in Africa, with a
particular focus on the role of foreign direct investment (FDI) in the
socio-economic, socio-political, and socio-cultural development of the region.
First documenting the historical context of Western dominance from European
colonial powers, the book follows the paradigm shift that occurred with China's
21st century foray into Africa in search of oil and other raw
materials to fuel its own rapidly rising economy. Using an interdisciplinary
approach, the author proposes that Africa will only get maximum benefits from
high-level investment activities if it succeeds in evolving an Africa-driven
foreign investment policy. This strategy presents the best scenario for an
African economic renaissance in the 21st century.
An important contribution to research on contemporary
Afro-Asian dynamics, this book will be of interest to students and academics of
African Studies, Asian Studies, globalization, and economics, as well as
potential investors and investing agencies.
