In a global comparison, China is by no means the leading investor in Africa. Indeed, China’s investments in Africa are dwarfed by those of the EU and the US. In 2005, for example, the US FDI stock in Africa was valued at $24 billion, i.e. 15 times that of China. While China’s direct investment flows have accelerated in recent years, registering a seven-fold increase over 2003-06, China still only accounts for less than 1 percent of the total FDI stock found in Africa