Economics
Lew Downplays U.S., China Rivalry on Investing in Africa Growth
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The U.S. and China each have a role to play in the economic development of Africa, Treasury Secretary Jacob J. Lew said, downplaying a suggestion that the U.S. is losing the race to invest in the continent.
“There is potential in the development of the African economy for many other countries,” Lew said today at the University of Pretoria’s Gordon Institute of Business Science in Johannesburg when asked why American investments have lagged behind Chinese ones. “It’s not a question of should we be here, or should China be here, we both should be here.”