Nigeria-China Trade Relations and The Development of Nigerian Economy, 2007-2015

Ifedi, Francisca Obiageli (2019) Nigeria-China Trade Relations and The Development of Nigerian Economy, 2007-2015. Caritas University Journal of Political Science, 2 (1). pp. 166-179.

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Since the emergence of modern statism, bilateral trade relationship between nation-states has remained one of the major pillars through which governments address issues of citizens wlfare. This has been systematised in today's globalised capitalist order where trade is regarded as a major vehicle that drives the world political economy. In line with this trend, Nigeria and China have engaged in trade and economic relationship as means of furthiering national economic development for several decades. Thus, this paper examines Nigeria-China trade relations between 2007-2015. The essence is to establish the nature of the trade relationship between the two countries since the establishment of the diplomatic tie and secondly, to explore the impact of the external trade relation on Nigeria's economic growth and development. To explain the work, the study adopted the theory of economic liberalisation. This is to enable us survey the relationship between economic liberalisation and the development of foreign trade. It relied on secondary data while the descriptive data analysis technique was adopted to explain the world. the findings indicated that trade relation between Nigeria and China has remained significantly high, especially between 2010 and 2015. Equally, the bilateral relationship spilled over to foreign direct investment which impacted positively on the Nigerian economic growth and development in the period under interrogation. Drawing inference from the study therefore, we recommend that effort must be made for Nigeria's finished goods to gain access to the Asian market, especially the Chinese to ensure mutual development of the two countries. Secondly, that Chinese financial assistance to Nigeria should be in the area of foreign direct investment and which ahs to be channeled towards the agricultural production- Green Field Revolution- so as to beef-up the attention of the diversification of the Nigerian economy that had remained for long mono-type (that is, oil and gas). Such development will resuscitate the Nigerian agricultural production which was the largest employer of labour before the discovery of oil in Nigeria.

Item Type: Article
Subjects: J Political Science > JA Political science (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 26 Oct 2020 10:23
Last Modified: 26 Oct 2020 10:23

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