Emerging Asian economic powers China and India have pushed Europe behind in
the race to snap up trade and investment deals in resource-rich Africa, Senegalese
president Abdoulaye Wade said.
western investors and institutions like the World Bank tend to delay investment
decisions, China and India, hungry for raw materials to fuel their fast-growing
economies, take trade and investment decisions much quicker, Wade said.
was addressing students at the John F Kennedy School of Government in Boston on
a staunch ally of the West, former French colony Senegal has been awarding investment
contracts to Middle Eastern, Asian and even African firms - often at the expense
of its traditional trade partner France.