The rising economy of China.


CHINA AS AN ECONOMIC SUPER POWER.
CHINA gained her independence on October 1, 1948 a socialist/communist state which is slowly embracing the capitalist system of government, after her freedom from the shackle of “isolationism”
in 1970 china has continued to show the world that she is here to stay, driven by the “principle of harmony without uniformity” in diplomatic relations with countries like IRAN, ZIMBABWE, NIGERIA, etc. As of 2014 china was reported by the IMF to be the world second largest economy with a GDP of US$10.380 trillion, China has surpassed countries like America, Germany, Japan etc. in auto sales and production, which as at 2013 stood at 13.6 million, also in 2013 china became the world’s largest oil importer surpassing U.S.A which is a major achievement since the economic crises in 2008.
          China has had a steady growth over the years, with less known political conflict, a forward looking government, large population, military strength, energy, a domesticated market, large workforce, huge capital, increased standard of living, a wide range of international interactions, low labour cost, a good trade/industrialization system which has been enhanced by good transportation system (railroads and airstrip) used by big companies like Alibaba. Although due to increased industrial activity and large transportation network the rate of accidents and industrial pollution have also increased.
           Scholars have argued that china’s lack of substantial cultural integration in the activities of the U.N, democratization, human right violation (one child policy to curb overpopulation, re-education through labour), energy intensive production, religious suppression, strong military capability may deter it from gaining its place as a global superpower.

FOREIGN POLICY BETWEEN CHINA AND NIGERIA.
               Having the same independence date as Nigeria, china got her independence 68 years before Nigeria, statics show that as at “2011 Nigeria was the 4th largest trading partner of china in Africa”, china has undertaken projects in Nigeria on power, military support (supply of weapons, equipment and training facilities in the fight against the Niger delta militants), political support, telecommunication (signing a 311 million agreement to develop communications and space programs), railroad services, house constructions etc. Nigeria in turn has been an important source of oil, timber and cotton to china and as of “2016 Nigeria stands as china’s number one engineering market, second export market, 3rd trading partner and major investment destination  in  china according to Chinese ambassador H.E. Gu Xiaojie”.

          Although there remains an imbalance in trade between both countries as Nigeria continues to import more from china and export little in regard, according to NIPC china’s investment in Nigeria presently stands at $13 billion, but china continues to benefit more (having 80% exports in the trade relationship, reduced tariff on agriculture imports) Nigeria should reduce its dependency on other developed and developing country’s for industrial support, as this has made Nigeria into a “foreign dumping ground”, Nigeria in her relationship with china should diversify into other aspect of trade (agriculture, mining, social aspect) and not only rely on oil and gas as her sole trade resource, increase taxes on Chinese goods, China should go into agreement with Nigeria and set up industrial capacities that will enhance job creation and promote the development of the country (home grown goods),  Nigeria has abundance of resources, cheap labour and man power but the lack of “technical- know-how”  stands as a big problem in Nigeria and this will continue to affect our national interest in dealing with other countries especially china.

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