Jean Claude Bastos de Morais believes it’s the only way for African innovators and trendsetters to succeed. The private sector of Africa has also a lot to contribute, apart from the governments. Hopefully, African countries will spread their wings in the international market like China.

1. CHINESE INDUSTRIES CAN
INSPIRE AFRICA’S ECONOMIC
GROWTH PROSPECTS
Jean Claude Bastos de Morais
www.jeanclaudebastosdemorais.com

2. The rapid growth shown by China’e economy is a subject for speculation, believes
Quantum Global Group CEO, Jean Claude Bastos de Morais. China’s GDP has shown
tremendous growth. In a span of 28 years, between 1989 and 2017, China’s GDP rose
9.71%.
The lineup of three important factors, namely innovative technologies, heavy
investments, and steady deregulation has evolved the Chinese narrative. It pushes
Mr Bastos de Morais to wonder, can the Chinese economic growth model be applied
to Africa too?

3. Africa is a continent with 54 countries that is separated from China by a huge land
mass, seas, history, and culture. Despite the geographical and cultural differences
between China and Africa, they share a lot of similarities.
Both have a booming population that is in pursuit of industrial modernization. Africa,
however, has a younger demographic. This means Africa has better human resources
in comparison to China. The only thing Africa lacks is the ample amount of
opportunities and tools to employ the human resources productively.

4. China is a good example of how human resources should be nurtured and used. A
study done by Boston Consulting Group concluded that China’s research and
development spending surpasses the same of the US.
In light of the study Jean Claude Bastos de Morais is of the opinion that innovations
are necessary for commercial success. When you analyze the stock market, you will
see Chinese tech companies on the tip. Tencent’s shares have skyrocketed by 43.6%
this year, leaving Facebook behind.

5. As one of the world’s largest investment holding company, it provides Internet
services, value-added services, social networking, e-commerce, web portals,
smartphones and mobile games. These services do more than just please the social
and cultural needs of the Chinese.

6. China has been assisted a lot by the state financial support startup investments from
public and private sectors, independent innovators, and SMEs. In the 2016 National
Conference on Science and Technology, President Xi Jinping stated, “China should
establish itself as one of the most innovative countries by 2020 and a leading
innovator by 2030”.
He added, “Great scientific and technological capacity is a must for China to be
strong and for people’s lives to improve.” This speech can be applied to Africa too.

7. The technological might and innovative approaches of China can be reproduced in
Africa, thanks to its young and fast-growing population. African nations need to
satisfy the needs of small and medium-sized enterprises that require funding in order
to grow and innovate.
Jean Claude Bastos de Morais believes it’s the only way for African innovators and
trendsetters to succeed. The private sector of Africa has also a lot to contribute,
apart from the governments. Hopefully, African countries will spread their wings in
the international market like China. The market competition between the African
states and China will inspire other economies to rise promptly.

8. THANKS
www.jeanclaudebastosdemorais.com