According to the latest report released by the United Nations Economic Commission for Africa, the new coronavirus will have a greater negative impact on the whole of Africa. The Ethiopian Economic Association also stated in its preliminary forecast that if the spread of the new coronavirus continues, then Ethiopia’s GDP will fall by 10 this year. %.

The rise of Addis Ababa, the capital of Ethiopia

In another global economic outlook report for 2020 released by the World Bank, it is pointed out that in the next two years, the three countries with the fastest global economic growth will be Guyana, Ethiopia and Rwanda. Among them, Ethiopia and Rwanda is an African country.

In the opinion of Fei Qiong, a famous Chinese economic expert in Zimbabwe, “the Chinese economic model provides African countries with a development model that can be used for reference, and calls for learning from China’s development model.” Chinese companies and engineers help African countries carry out various infrastructure development plans , Especially African countries have witnessed rapid urbanization, such as Ethiopia.

The rise of Addis Ababa, the capital of Ethiopia

In the past five years, Ethiopia’s industrial volume has increased from US$1 billion to US$4 billion. Currently, Ethiopia’s economy is concentrated in the service industry and agriculture. The World Bank estimates that Ethiopia’s average annual growth between 2004 and 2014 The rate was 10.8%, half of which came from services and transportation, which was mainly the result of the country’s urbanization.

According to statistics from the World Bank, China’s per capita GDP was US$156 in 1978, which was almost the same as Ethiopia’s per capita GDP of US$155, while the per capita GDP of southern African countries was around US$490. At the beginning of this year, the International Monetary Fund predicted that by 2022, Ethiopia's per capita GDP will grow at an annual rate of 6.2%. Among countries with a population of more than 10 million, only Myanmar is expected to grow faster.

Former World Bank chief economist Lin Yifu said that one of the reasons why China has been able to maintain rapid economic growth for so many years is the advantage of latecomers. African countries should also make good use of the advantages of latecomers, that is, through the gap with high-income countries. Better break through their own technical bottlenecks, thereby promoting the development of productivity.

The US think tank also analyzed the manufacturing productivity indicators and labor costs of 5,500 companies in 29 African countries and compared them with similar countries, and found that most African countries did not reflect the competitiveness of manufacturing. However, the latest research shows that Ethiopia Africa is the most likely to become the next manufacturing focus country, the most promising country to develop like China, and become the next China. The U.S. financial media Quartz also stated in recent reports that what is happening in Ethiopia is economic Miraculously, Ethiopia is hoping to become the next Chinese economy.

Since 1991, the Ethiopian government has used China’s economic development model as a template in the absence of national resources, invested heavily, actively developed infrastructure and manufacturing, and formulated government-led economic development plans. Therefore, it has been called by Western media. As "African version of China's economy". At the same time, it is now gradually becoming one of the options for Chinese overseas travel destinations.

According to the Financial Times, Ethiopia has received a large amount of foreign investment, mainly from China, and has injected a lot of resources into the construction of dams, roads and railways. Ethiopia has achieved Chinese-style prosperity and has become the largest economy in East Africa. The Chinese have helped the country. The country gradually builds the region and promotes economic development. For example, the new modern buildings that can be seen everywhere on the roads of the capital Addis Ababa, and the high-speed railway that connects Djibouti to the coast. These are all helped by the Chinese.

Ethiopia’s economic development results are particularly exciting. The United Nations predicts that by 2050, Ethiopia’s population will increase from about 100 million to 190 million, making it one of the fastest growing countries in the world. There is no doubt that Ethiopia is making every effort. Copy the essence of the Asian-style industrialization road, especially with the rising cost of production factors in countries such as Vietnam, India, Bangladesh, etc., it is most promising to become one of the next global manufacturing centers, such as one of China’s largest footwear exports The company has invested millions of dollars in Ethiopia to expand the factory.

Chinese companies' factories in Ethiopia

Immediately afterwards, McKinsey also found that most Africans believe that the Chinese economy has exerted a positive influence in the local area, which is unparalleled. From manufacturing to infrastructure, it has now expanded to the fields of public health, education and Internet economy.

This is reflected in the fact that at present, the global economy has become more and more fragmented, especially some countries in Asia and Africa, they still need a successful economic management model, traditional manufacturing is for some countries in Asia and Africa today Very important.

The latest news shows that in order to further promote economic development, Ethiopia is also implementing the second phase of its growth and transformation plan. Currently, Ethiopia hopes to make the country a middle-income country by 2025 and become a “prosperous African economy by 2030”. Symbol".

Near the capital of Egypt, a train runs on the Yaji Railway

For example, in the economic environment affected by the new coronavirus, the advantages of e-commerce have become more apparent and will create more infrastructure that needs to serve the economy, making Egypt a manufacturing center and attracting foreign direct investment. In addition to Ethiopia and Cambodia, at least three other countries have also begun to emulate China's economic development model in some areas, hoping that they can develop their economies like China.

For example, Turkey is also pursuing the footsteps of China's economic development model, and now Panama is planning to learn Chinese railway technology.Editor/Huang Lijun