African nations must study China's experience before pressing on, experts say.
Martyn Davies (pictured left), chief executive officer of Frontier Advisory, a leading research and strategy-consulting firm, based in Cape Town
When Justin Yifu Lin speaks, people tend to listen.
Despite China's increasing tolerance for slower economic growth and determination to improve the quality of its economic growth in the coming decade, many still feel that China should maintain a GDP growth of no lower than 7 percent to facilitate future reforms.
No single growth model can be successful forever, and for China the time of reckoning has come
China's sovereign wealth fund banks on diversifying investmeng, with new focus on Africa.
Despite its present size and scale, China's first sovereign wealth fund had relatively humble beginnings. The Beijing-based wealth fund started off as a state-owned enterprise on Sept 29, 2007, with an initial corpus of $200 billion (148 billion euros).
2007
Though there is no firm yardstick to gauge its real impact, China Investment Corp has in many ways been the most representative face of Chinese investment in Europe. Apart from its regular activities such as equity and other investments, the fund has also played a key role by teaming up with other sovereign wealth funds for joint investments on the continent.
The recently published annual report of China Investment Corp, the Chinese sovereign wealth fund, had encouraging news for all Chinese. The fund had a return of 10.6 percent last year, greatly outstripping its performance the previous year, a loss of 4.3 percent. Given that CIC has billions of dollars of assets under management, even a 1 percent difference in investment returns can make a big difference in absolute terms.
Sovereign wealth fund is turning China into a strong force in global financial investment
It is not just Africa that finds itself dependent on how the China growth story unfolds over the next few years but the rest of the world too.
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