US counters China as Beijing’s ‘shock wave’ hits African economies

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. China imposes retaliatory sanctions on U.S. firms and tightens drone export restrictions as trade tension escalates while Washington targets Chinese companies allegedly using Iranian fuel and weighs additional sanctions on Chinese A.I. firms. JOHANNESBURG: A top State Department official has hit out at China for what analysts are calling "the China shock wave" effect now crippling African economies. African manufacturing is reportedly being battered by a surge of Chinese imports. It’s a triple whammy — China takes raw materials, including critical minerals, from the continent and floods Africa with state-subsidized products. And Beijing isn’t importing anywhere near an equal amount of African products. The China Global South Project reported that in 2025, Chinese exports to Africa hit $225 billion in value, whereas imports from Africa were roughly on