The International Monetary Fund (IMF) has warned that China’s slowing economy will negatively affect Nigeria’s economic growth by as much as 0.5 points on average.
The Fund in a report titled “China’s Slowing Economy Will Hit Sub-Saharan Africa’s Growth” released on Thursday, November 9, 2023, disclosed that the country’s economic engagement with the region is evolving, with implications for growth, trade, and investment
“China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, making it the region’s largest single-country trading partner. China buys one-fifth of the region’s exports—metals, minerals, and fuel—and provides most of the manufactured goods and machinery imported by African countries.
