Singapore's Chinese-language daily, Lianhe Zaobao, published on 30 November 2025 an article titled "Africa's Resource Battle: Has the China-US Contest Already Been Decided?" by Shen Yue. The article reports comments by Amit Jain, Director of the Nanyang Technical University-Singapore Business Federation, (NTU-SBF) Centre for African Studies. NTU-SBF provided an English-language translation of the article.
The author increasingly sees China as taking the lead over the United States in Africa with critical minerals as the main attraction for both countries. China is by far the largest trading partner with Africa, albeit heavily Chinese exports to the continent, while US trade with Africa has fallen sharply since its peak in 2009. Foreign direct investment (FDI) from China and the US varies from year to year but in 2024 Chinese FDI in Africa totaled $3.4 billion while the US figure was a negative $2 billion due to disinvestment. The US dollar is still the major currency in trade transactions, but the use of Chinese yuan is growing each year.