China’s economy is growing fast — and so too its development footprint.
Unofficial figures put Beijing, one of five fast-growing economies that make up emerging donors group BRICS, as the largest contributor of development assistance to sub-Saharan Africa. Further, two days after 50 founding members signed the articles of agreement of the China-led Asian Infrastructure and Investment Bank, Beijing ratified an agreement to launch BRICS’ own multilateral financial institution, the New Development Bank.
In the short to midterm, development contractors and consulting firms that are doing business in Asia and Africa may increasingly be bidding for projects funded by the Chinese government and multilateral banks where Beijing is a major stakeholder. Would proficiency in Chinese then be an essential skill for development professionals to have in the next few years?