Chinese growth would boost Africa: bank chiefAfrican Development Bank chief Donald Kaberuka Donald Kaberuka (born October 5 1951) is a Rwandan economist and the current president of the African Development Bank. Kaberuka was born in Byumba, Rwanda. He was educated at universities in Tanzania and the United Kingdom and received a Ph.D. on Tuesday Tuesday: see week. said he was "confident" that if China's economy were to return to double-digit dou·ble-dig·it adj. Being between 10 and 99 percent: double-digit inflation. growth, it would lift African growth to pre-crisis levels. "The growth of Africa... is very much driven by China's demand for commodities," Kaberuka told journalists in Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. . The latest Chinese growth figures "are around seven-nine percent, I think that's very promising," he added. China in April said its economy grew 6.1 percent in the first quarter, while for the full year, it has set a growth target of 8.0 percent, a figure that it deemed is necessary to maintain stable employment and social order. "If the Chinese economy continues on this trend, that would signal growth for African economies in the coming year," said Kaberuka. "I'm confident that if the Chinese goes back to... double-digit figures, then the African economy will go back to six percent growth." Africa as a whole recorded a growth rate of 6.0 percent in 2007 and 5.1 percent in 2008. But a slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. in export demand and falling commodity prices have led the United Nations Economic Commission for Africa The United Nations Economic Commission for Africa (UNECA or ECA) was established in 1958 to encourage economic cooperation among its member states (the nations of the African continent). to forecast in May that the growth in the continent would slow to a 20-year low of two percent in 2009. Commodities-hungry China has become a main trading partner with Africa. Chinese President Hu Jintao's visit earlier this year to Africa took him, however, to less resource-rich countries, a move seen as countering criticism of China's exploitation of the world's poorest nations. Hu signed deals worth over 270 million dollars to fund infrastructure building in Mauritius and agreements in Tanzania worth more than 20 million dollars, covering agriculture, communications and technical cooperation. Official Chinese figures show trade between China and Africa jumped 45 percent in 2008, with Chinese exports to the continent up 36.3 percent and its imports, mainly oil, soaring soaring: see flight; glider. soaring or gliding Sport of flying a glider or sailplane. The craft is towed behind a powered airplane to an altitude of about 2,000 ft (600 m) and then released. 54 percent. Kaberuka underlined the importance of Chinese demand for African commodities producing countries, saying that "we're all watching very carefully the trend of the Chinese economy." At the same time, he also noted that other African countries which are dependent on foreign aid would still experience hard times ahead. Some wealthy nations peg their foreign aid levels to a percentage of gross domestic product (GDP GDP (guanosine diphosphate): see guanine. ) growth. In the current recession, "it is clear some of them will cut aid. I think they will," said Kaberuka, adding that the crisis has therefore not bottomed out for aid dependent countries.
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