Chinese People's Liberation Army honor guard are seen during the welcoming ceremony for Ghana's President Nana Akufo-Addo, at the Great Hall of the People Saturday, Sept. 1, 2018. (Nicolas Asfouri/Pool Photo via AP)

African banker: Trade deficit prominent at China conference

September 02, 2018 - 1:44 am

BEIJING (AP) — The chief executive of Africa's largest bank says the continent's leaders are likely to press their Chinese hosts at a conference this week to help narrow their trade imbalances with Beijing by shifting more manufacturing to Africa.

China has passed Europe and the United States as the biggest trading partner of most African countries. Most run large trade deficits with Beijing, exporting minerals and buying Chinese manufactured goods.

The chief executive of South Africa's Standard Bank Group, Sim Tshabalala, told reporters he believed the trade imbalance "will be placed firmly on the table" by delegates to the conference this week in Beijing.

China's commercial presence in Africa has prompted complaints in some countries that the continent gets too little economic benefit from the relationship.

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