Share of Chindiafrica to climb up to 45% in world GDP

KARACHI: Jean-Joseph Boillot, an economic advisor on emerging countries, on Saturday said the share of Chindiafrica in the world GDP would jump from the present 25% to 45% by 2030.

The term Chindiafrica is a concoction of Boillot for the connection of economy among China, India and Africa.

“Pakistan should get involved in the triangle of these three countries to boost its economy,” he said during a press conference at Karachi Press Club.

He said India and China on the basis of cheap labor and raw material established their industries in Africa which resulted in progress of all the three countries with a growth rate of 5-6%. However, China was economically dominant among them who could do without them but they could not do without China. But at the same moment, considering China’s need of raw material and markets, without Africa it would be lacking oxygen.

Giving example of Indian vehicle industry, he said India in Africa was producing cheap motorcycles and cars of simple technology with very good average consumption of fuel.

“We see that these three giants are working together. China is already the number one partner of Africa. India is Africa’s number three partner. Considering their mass effect, their economic and political paradigms are going to impact the world,” he said.

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