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Abstract
That China has positioned itself as a country
to reckon with in today’s world economy is no longer contestable. This
reflects in the influx of economic activities from various foreign
investors who are attracted to the existence of a market for their
products and services in the over one (1) billion populated
country (Ayantunji & Ayodele, 2009). The study examines the Political Economy of Nigeria-China Relations (1999-2013). The analysis of China’s relations with Africa
has often been generalized, yet these relations vary considerably
across the continent, suggesting the need for greater attention to the
specificities of each country. Thus, the study appraises the impact of
diplomatic and economic relations on the political economy of Nigeria
and China. The study predicates its investigations on dependency theory
as the method of analysis, while method of data collection was
qualitative in nature.
Data collected were analyzed using qualitative descriptive analysis. The
study notes, among others, that the Chinese manufacturing operations
contribute to the country’s GDP
but offer tough competition for local producers. Exports to China might
also boost the bottom line, as Nigerian suppliers find a new market for
their goods, but here too, the results are mixed. Imports from China
far outstrip exports, creating a large trade deficit
and flooding the market with lowtech manufactured goods that might
otherwise be produced domestically. The study argues that there is a
huge imbalance yawning gap in trade between Nigeria and China and a need
to improve more on the diplomatic relations
between both countries. The study recommends that Nigeria’s first
priority lies in developing the capacity to better manage its own
policies toward China’s engagement. Nigeria needs to realize that
China’s engagement gives it a unique opportunity to significantly expand
its development and articulate a comprehensive strategy that addresses
its long-term needs.
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