The Role of China and Western Countries in the Economic Globalization of Africa: Who is Behind the Recent Economic Renaissance of Africa?

This study utilized a growth model and econometric panel data analysis from two categories of mineral and agricultural exporting African countries to and from China and the West using EVIEWS 7.1 software. Although both China and the West have positively contributed to African GDP growth, (a) China's FDI is more significant than OECD-FDI and the effect is stronger for the Mineral exporters. (b) the share of OECD’s exports and imports is higher than China but declining sharply. (c) OCED’s Aid has more significant effect than the Chinese for both categories. Both OECD and China are important to fasten economic growth. However, the Chinese influence is rising sharply and displacing the West. Without them, still there would be growth, but it is much slower. Therefore, African countries need to design strategies to seize the opportunities available from both China and the Western countries.