The biggest two continents of the world Asia and Africa have been the epicenters of power games since centuries which is still continued on. Asia which is home to 48 countries and Africa which is comprised of 54 countries are collectively 102 states which are more then fifty percent of the world. Areawise Africa is 30.37 million km² which covers 6 percent of the Earth total surface area or 20 percent land area. While the area of Asia is 44.58 million km², which is 30 percent of the Earth’s total land area and 8.7 percent of total the Earth surface area. Notwithstanding to area, the population of Asia in 2020 was 4.64 billion while the population of Africa was 1.37 billion in 2021.
Both continents have been colonized for centuries. Asia was colonized by Great Britain, Spain, France, the Netherlands, Portugal, and the US while Africa was colonized by the US, Belgium, Britain, Italy, Germany, Spain, and Portugal. At present, major players involved in tug of economic war are China, Russia, India, Saudi Arabia, America, and Europe in both continents whereas China and America are the leading rivals.
Strategically, Africa is bounded by the Red Sea, Mediterranean sea, the Indian Ocean, and the Atlantic ocean whose fishing industry has been valued around 24 billion USD annually. While, Asia is bounded by the Arctic sea, and the Indian Ocean while it is home to Caspian Sea and Black Sea.
As for as resources are concerned in Africa are Cobalt, Diamond, Gold, Platinum, Uranium, Oil, Wildlife, forests, and Gas are abundant. The UN empowerment program says that Africa is home to 30 percent of world’s mineral reserves, 12 percent of world’s oil reserves, 40 percent of world’s Gold, 90 percent of world’s Chromium and Platinum. AlJazeera reports that Africa produced almost 1 billion tonnes of minerals worth 406 billion USD in 2019. On the flip side, Asia is also home to Coal, Petroleum, natural Gas, Iron, Steel, Tungsten, Copper, Tin, Barite, and Water. Whereas Oil in Arabian peninsula and the Middle East, while, central Asia is rich in Oil and Gas immensely.
Both continents have favourable agriculture lands which have been main sources of employment and food. For instance, Agriculture employees half of the population of Africa. While, 65 percent of world,s arable land, 10 percent of fresh water resources are in Africa. At the same time, Asia has been home to producing cereal, fruit, and other agricultural products.
Majority of Asian and African states are poor and lack technologies. These states need technology, investmennt in solar energy, and agriculture. Both continents are home to billions of people which is a gigantic market for investors. Moreover, both continents are becoming home to smart phones which is becoming the most important source of revenue for states. Africa that is world’s largest free trade area can be a huge market.
Both China and America have been penetrating economic and politically in both continents. China has been investing in both Asia and Africa through its BRI initiative. I had written in my oped “Chinese inrode in Africa: A Huge Challenge for American Hegemony in dark Continent” that China has been pouring money in energy projects in Africa. As per a survey of 2021, around 43 percent of African people have no access to electricity while 90 percent rely on fossil fuels. Capitalizing renewable energy demands external partners. China has constructed Addis Abba to Djibouti railway line. This Ethiopia-Djibouti railway has reduced travel time from several days to only 10 hours. A project known as Nairobi Express in Kenya. In addition, China has become the largest trade partner with Africa and has been a huge provider of the FDI. Estamatedly, Untill 2021 China had established 25 economic zones in 16 African countries. On the other hand, Africa has been an important continent for the US too. In 2022, America held Africa summit and pledged 55 billion USD for food security, education, and infrastructure development. The US has military bases in Djibouti, Niger, Jenya Egypt, and Cameroon.
Notwithstanding, African European corridor was another major development which was initiated by the EU. In 2022 Europe investment package was 164 billion USD which aimed the establishment of 11 economic corridors across the dark continent which was further divided into three larger regional corridors. In addition, the India, Middle East, Europe corridor (IMEC) will start from Mumbai and end in Greece would be another major development on the geopolitics of both continents.
Investment in Africa and Asia still face myriad of challanges. One of the main challenges is security situation in both continents. Geneva academy writes that Africa is home to 35 non-international armed conflicts. Wheress, Asia is also home to regional conflicts such as between Pakistan and India, between China and India, and the internal situation of Afghanistan which have been huge impediments in attracting foreign investment.
Another challenge is the paucity of technologies. Many countries in both continents are facing hurdles in attracting investors for extracting their minerals and harnessing in renewable energies such as solar and wind energies. Whereas, majority of states lack scientific methods and new seeds in the field of agriculture. These challenges have also hampered the FDI.
The tug of war among big powers in the affairs of many countries of Asia and Africa has been a gigantic challenge which has paused economic development and investment in these countries. This tug of war has resulted in proxies in these states where political instability has been increasing and is posing a huge threat to the mines and mineral resources of these countries.
The Asian Development Bank (ADB) writes that 76 percent of Asian poor live in rural areas. While, the World Bank writes that 462 million people in Africa still live in poverty. These people can be lift up from poverty and could pave the way for progress and development in both continents provided that the resources of both continents are utilized. Though, both continents have become the epicenters of new power game led by China and America- but at the same time, this rivalry might result in a health competition among the rival states and could lead the continents towards progress and prosperity. If such happens it would be a win-win situation for all.
