With few customers at his wholesale jeans store in Guangzhou these days, Nigerian trader Brien Chuks busies himself looking after his three-month old baby.
“Last year I sold 12 shipping containers of jeans back to west Africa but this year I haven’t managed to fill a single one,” says Mr Chuks, who operates from the Canaan market in China’s third-biggest city, like many other Africa-focused exporters. “The Nigerian economy depends on oil so with the crude price having fallen so low, business is very hard.”
In a sign of the circularity in the global economy, the Africa-focused traders who have long thrived in Guangzhou are suffering because of a commodities-driven slump in their home continent that ultimately originated in China.
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