China is far from the only country that has left the US behind. While Washington has been stuck in gridlock the last few years, Canada has been busy inking new investment treaties all over the continent. It has signed agreements with eight African countries, including one of the region’s economic powerhouses, Nigeria. Plus, it has several more deals in the works, like with Ghana and Kenya. Once all of these are ratified, Canada will have quietly signed investment promotion treaties covering two-thirds of Sub-Saharan Africa’s GDP.
Yet, the world’s largest investor, the United States, has remained largely on the sidelines. Even including hoped for agreements with Mauritius and the East African Community, which the US has been negotiating for several years, regional coverage rates will remain extremely low at 16 percent. And far, far away from Germany’s leading coverage rate of 96 percent of regional GDP.
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