China is increasingly positioning itself as a global economic power. The world's most populous country is also the world's leading exporter of goods, its second-largest economy and one of its most important investors China's share of the worlds GDP has risen sharply in recent years, while that of the EU and the USA has contracted However, trade disputes with the USA have put pressure on its six to seven percent economic growth rates seen over the past few years. The New Silk Road project involves 84 countries and 70 percent of the worlds population and is worth billions of euros. In 2013, Chinas President Xi Jinping launched the initiative that has since become a cornerstone of his foreign trade strategy. The aim of the „project of the century" is to open up new sales markets from Central Asia to Africa and Europe, and to reduce overcapacities in Chinese industry. Infrastructure projects at strategic locations, such as in Djibouti, not only help expedite the transportation of goods but also strengthen Beijing's political influence. The initiative also aims to secure China's supply of raw materials - the country already obtains a third of its oil from Africa. Most of the target countries for Chinese investment are located in the east of the continent This has boosted the economies of these countries and turned East Africa into one of Africa's fastest-growing regions.
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