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Vol 2 (AAC) No 5

Published 1st March 2009

The sun also rises

China's plummeting exports are worse than many economists had expected but the country's slowdown does not necessarily spell doom for Africa

Africa and China escaped the worst direct effects of the global slowdown last year, Africa because its banks were not integrated into international credit markets, and China because its banks were barred from investing in the complex financial products that wrecked several Western banks. But the second and third waves of the slowdown have been breaking on the shores of the African and Chinese economies ­ and wreaking havoc.

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