CHINA & AFRICA TRADE
FORUM ON FORUM ON CHINA–AFRICA COOPERATION (FOCAC)
Trade between China and Africa became a program of Chinese foreign policy after the Forum for China-Africa Cooperation (FOCAC) in Beijing in October 2000. The forum opened up opportunities for increased trade cooperation, making China one of Africa's most important trading partners for economic development.
Chinese investment in resource-seeking, market-seeking and efficiency-seeking FDI can explain its commercial success not only in Africa but also in developed countries. However, Chinese FDI flows are only part of the business strategy that drives further study to understand how Chinese Confucian culture both tolerates and adapts to avoid high and low uncertainties. As a prelude to such studies, the findings suggest that Chinese social practice characterized by interpersonal relationships is central to Chinese business cooperation with other nations as opposed to Western dominant cultural introspection.