Globalization of Foreign Investment in Africa (ePub)

The 21stcentury era of globalization has opened up many investment alternatives forAfrica. There is now a rush by governments and private companies toexpand in the rapidly growing region, to the extent that we can begin to talkof a process of world-wide investment. Both traditionally powerful economies in theWest and emerging powers such as China and India have contributed to a vastproliferation of investment, raising questions of what intense competition willmean for Africa's economic development.The Globalization ofForeign Investment in Africa: The Role of Europe, China, and India comparesthe differing approaches between Asian and European players in Africa, with aparticular focus on the role of foreign direct investment (FDI) in thesocio-economic, socio-political, and socio-cultural development of the region. First documenting the historical context of Western dominance from Europeancolonial powers, the book follows the paradigm shift that occurred with China's21st century foray into Africa in search of oil and other rawmaterials to fuel its own rapidly rising economy. Using an interdisciplinaryapproach, the author proposes that Africa will only get maximum benefits fromhigh-level investment activities if it succeeds in evolving an Africa-drivenforeign investment policy. This strategy presents the best scenario for anAfrican economic renaissance in the 21st century. An important contribution to research on contemporaryAfro-Asian dynamics, this book will be of interest to students and academics ofAfrican Studies, Asian Studies, globalization, and economics, as well aspotential investors and investing agencies.