ChinaCPI&PPI,July2017鈥揓uly2018
China鈥檚OfficialPMIJuly2015鈥揓uly2018
China鈥檚MonthlyRetailSales,$tln,%y-o-y,June2015-June2018
China鈥檚MonthlyImports,$bln,%y-o-y,July2015-June2018
China鈥檚MonthlyExports,$bln,%y-o-y,July2015-June2018
Source:NationalBureauofStatisticsofChina
IsAfricareadytoparticipateinandtakeadvantageoftheFourthIndustrialRevolution?July27markedtheconclusionofthe10thannualBRICSSummitinJohannesburg.Thesummitdeclarationoutlinedasthegroup鈥檚newkeyinitiativetotacklechallengesandmaximizebenefitsbroughtbydevelopmentsintechnologiessuchasartificialintelligenceandautomation.ThenewindustrialrevolutionwasakeypointofdiscussionduringtheBRICSSummit.TheBRICS鈥淧artNIR,鈥漺hichstandsforPartnershipintheNewIndustrialRevolution,isexpectedtocreateandguidepolicymakingwithregardstoharnessingnewchangesintechnology,dubbedtheFourthIndustrialRevolution.
TheBRICSmembershaveformulatedaspecificplantooptimizecomingchangesinautomation,digitalizationandartificialintelligence,whichhavealsobeenadvancedinotherdevelopedeconomiessuchastheUnitedStates,FranceandJapan,allofwhomhavenowcomeoutwiththeirownnationwideprogramsintendedtoaddresstheFourthIndustrialRevolution.WithinthePartNIRframework,BRICSaimstodevelopacoherentandsynergeticsetofpoliciesconcerningeducation,skillsdevelopment,employmentandinvestmentforthenewtechnologies.
ThemotivationtocreateastrategyrelatedtotheFourthIndustrialRevolutionamongBRICScountriesistimely,especiallyformajormanufacturingexporterssuchasChina.Thestrategiesenablefirmstobecomemoreflexibleinmeetingchangingcustomerdemandsforhigh-valueaddedproducts.Ahighlevelofexperimentationandefficientproductionprocesses,alsofacilitatesnewinnovation,byallowingfastercreationofnewprototypesandbringingthemtothemarket.Furthermore,greateruseofinnovativestrategiescandramaticallyincreaselaborproductivity.ThesenewinnovativestrategieswillalsomaximizebenefitsandfacilitatetechnologicalgrowthinAfrica,andplayavitalroleintheindustrialsectorthroughoutthecontinent.
Ifsuccessful,theFourthIndustrialRevolution鈥檚skillupgrading,educationalexpansionandtechnologicalupgradescouldbeseenacrossthebloc,affectingaconsiderableportionoftheworld鈥檚laborforceandhavingaprofoundimpactonBRICSproductivity,andinturnthecurrentbalanceofeconomicpower.ThedriveamongBRICScountriestochampioncooperationamongdevelopingcountriesactsasanimportantforerunnerforAfricancountriestocraftstrategiestocapitalizeontheFourthIndustrialRevolution.
1/MoroccoJuly:AdealbetweenChineseautopartgiantCITICDicastalCo.Ltd.andMoroccohasoutlinedtheplansfortheconstructionoftwoautowheelplantsinthecountrywithacostestimatedat$407.5million.Theplantsareplannedtobeoperationalbytheendofnextyear,andproduce6millionwheelsperyear.
2/EthiopiaJuly:Anew458-km,230-kilovoltelectricitytransmissionlinewasconstructedbetweenAlamatainnorthEthiopiaandLegetafointhecentralpartofthecountry.ThisnewlinewasbuiltjointlybyChinesefirmsSichuanElectricPowerTransmissionandTransformationConstructionCo.Ltd.,aswellasJiangsuEternCo.Ltd.The$20millionprojectisexpectedtobeamassiveboostfortheEthiopianconsumermarkettoreceivereliablepowersupplyinthecountry.
3/KenyaJune:ChinaNationalAero-TechnologyInternationalEngineeringCorp.haswonthetendertoconstructthefirsttarmacroadextendingtoSouthSudanfromnorthKenya鈥檚RiftRegion.The$20millionprojectaimstoprovidefarmersbetteraccesstomarket.
4/UgandaJune:ChinaandUgandasignedanagreementwherebyChinashallfinancethemodernizationofUganda鈥檚customsdepartment.The$15millionmodernizationprojectissettoaidthecountry鈥檚revenuecollectionabilitybyimprovingmethodsofcollection,tradefacilitationandbordercontrol.
5/ZimbabweJune:Zimbabwehascommissionedtheconstructionofa$1.5billionChinese-fundedHwangePowerStationexpansionproject.TheprojectistobecarriedoutbyChina鈥檚SINOHYDROCorp.Ltd.,andissettobecompletedin42months.Theaimoftheplantistocoverthe400mwdeficitinZimbabwe.