Assessment 2. Business & Marketing. Speech Presentation

Speech
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It is evident since the turn of the 21st century that China has established itself as the hub or rather the pinnacle of the global supply chain. The growth is a significant improvement from the anguish and suffering that characterized the Asian nation during the 20th century. The GDP has risen from $89 in 1960 to roughly $10,000 today. Some of the factors that explain China’s rise as an economic powerhouse include labor supply, favorable political system/ strong leadership, free market economics, inclination towards exports, private enterprises, economic diversification, raw materials, population growth and globalization. Additionally and most importantly, China’s rise as one of the global economic power houses has been fostered by its extensive venture in Africa. China has built a strong presence and continues to strengthen its position in Africa by providing some of the governments with loans to finance different investment projects. Despite these benefits, China’s growing influence in Africa is not only plunging the nations deeper in debt but also bankrupting the local industries.
China has clearly identified the potential that lies in the African continent. It is estimated that Africa’s population that currently stands at about 1.1 billion people is slated to double by the year 2050. It is also expected that over 100 cities in Africa will have more than 1 million people by the year 2025. The International Monetary Fund (IMF) recently identified Africa as the second fastest growing continent that will soon have an economy of about $5 trillion. The above statistics have encouraged China to increase its fu...