Weak global economic recovery in the context, people can quickly restore economic growth in Africa was in doubt. However, the first half of 2010, there have been encouraging African economies rebound. According to the United Nations Economic Commission for Africa published the “2010 Economic Report on Africa”, African economies will have a significant rebound in growth rate is expected to reach 4.8% in 2010. Africa’s rapid economic recovery in the short term, the recovery side of the wide range of speed exceeded expectations. Analysts pointed out that this shows that African economies have taken place across the times.

90’s of last century, average annual economic growth rate of 2.4% in Africa. In the 21st century, African economies from 2000 to 2008, average annual growth rate of 4.9%. However, the African economy in 2009 under the impact of the international financial crisis the growth rate plunged to 1.6%.

The first half of this year, Africa has demonstrated its strong economic recovery, mainly in three aspects. First, the vast majority of African countries economic growth. In the 30 major economies in Africa, there are 27 economic recovery good. Second, economic growth in Africa has been moving away from relying on a single resource export economy. Resources account for export-led economic growth has reduced the proportion of 32%, non-resource export growth and export growth is almost the same resources. Third, Africa has experienced 20 years of productivity decline began to accelerate after the upgrade, mainly for business competition, the use of mobile phones and modern technology, increase incomes, consumption growth, increased employment, resource prices.

Why African economy can withstand the international financial crisis and recovery in the short term it? The reason, mainly in the following areas:

Global economic recovery in Africa laid the foundation for economic recovery. The international financial crisis, the world’s major economies, the implementation of the economic stimulus policy, while G20 mechanism through strengthened international cooperation, especially in emerging economies, led by strong recovery in global economic recession. Renewed growth in global trade, overseas investment to re-active, especially in commodity prices rise in raw material prices, economic recovery in Africa has played a stimulating role.

Africa’s economic self-help efforts are key factors. Most African countries to vigorously carry out economic restructuring, and social resources to optimize the economic structure tend to be reasonable, the macroeconomic environment continues to improve. Especially in the international financial crisis, the African countries to fully play the role of government regulation: increased investment in industrial infrastructure; play the role of the private sector to promote economic diversification; attach great importance to agricultural development; to maintain public expenditure for poverty reduction; to strengthen regional economic integration , and enhance the ability of the overall response to the crisis.

China-Africa Cooperation on the invaluable contributions of the African economic recovery. Although also suffered the impact of the global financial crisis, but China’s African aid and investment, as always. First half of 2010, China-Africa trade reached 61.2 billion U.S. dollars, up 65% over the year is expected to be billions of dollars. In African countries facing financial difficulties, the Chinese through the provision of preferential loans and export credit support to African countries in infrastructure construction. According to statistics, China-Africa Cooperation on African economic growth rates remain above 20% for many years. China-Africa cooperation achieved through mutual growth and development.

Africa’s external trade patterns change dramatically. As major trading partners in Western anti-dumping and subsidies and other trade protection policies, African countries trade development was hovering at low levels. In recent years, efforts of African countries diversify their exports, Africa and other developing countries by the trade of goods between the 34 billion U.S. dollars in 1995, soared to 283 billion U.S. dollars in 2008. If trade between countries within Africa included, in 2008 trade between Africa and developing countries over trade with the EU, its trade constitute a structural change.

In addition, the international community to change the structure of non-assistance to economic development in Africa also had a significant impact. In recent years, a substantial increase in assistance to developing countries for non-official, and more and more into the infrastructure and productive sectors. Such as the 2002 to 2007, China’s assistance to the 54% for infrastructure and public works, aid to Africa actually fell to the real office, vigorously promoted Africa’s economic development.

In summary, the African economy has undergone unprecedented change. At the same time, Africa faces enormous poverty, the development of a shortage of funds, poor infrastructure and many other challenges. Analysts believe that if the global economic recovery and further increase the systemic and structural risks, the African economy will inevitably be affected. However, Africa continues to the good economic trend has not reversed.

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