IslamicFinance.de

The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has described China as a major contributor to the de-industrialisation as well as underdevelopment of Africa. He warned that with the growing interest of China in the continent, Africa was opening itself up to a new form of imperialism. Sanusi explained that China is no longer a fellow underdeveloped economy but an economic giant capable of the same forms of exploitation as the West. Trade between China and Africa was worth more than $200 billion in 2012. There has also been strong growth partly as a result of Asian demand for African resources.