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Showing posts from July 1, 2013

US-China Competition Plays Out in Tanzania

DAR ES SALAAM, TANZANIA — U.S. President Barack Obama’s visit to Tanzania as the last stop of his African tour, underscores a silent competition with China to tap the country’s growing economic potential.

It’s always a hard day’s work at the Kivukoni fish market in Dar es Salaam.  This place was once the center of business and trade in the city by the sea.  But that has all changed.  Tanzania’s economy has a 7% growth rate and the country is quickly developing.  Competition to get into the market is heating up.

Chinese companies are already at the forefront, leading construction of buildings and infrastructure.

But the United States is also looking for a stronger foothold, a priority emphasized by U.S. President Barack Obama’s visit to the country.

Lead economist for the World Bank in Tanzania Jacques Moriset says the competition can be a good thing. “In my view, it’s a benefit, it’s a huge opportunity for Tanzania, I mean I strongly believe in the basic principle of economy: competition…