Higher prices for natural resources have meant those countries rich in petroleum and other materials have been able to enjoy windfall profits.

What's more, one key factor driving up global commodity prices is the seemingly insatiable Chinese appetite for energy and other industrial sources, and the Chinese authorities have been stepping up efforts not only to improve diplomatic relations with African countries, but they have also been forging business ties with the region.

Indeed, the fact that the African Development Bank decided to hold its annual meeting in China this year -- the first time the agency has held a major conference in Asia, let alone China -- speaks volumes about both regions wanting to strengthen relations with one another.

China made clear it was committed to boosting ties as Premier Wen Jiabao attended the opening session and declared that much of the debts owed by African countries to China would be written off. In addition, Wen said China would apply zero tariffs to exports from some of the continent's least-developed countries, stating that "China will fully deliver on the commitments and is working with the African countries to implement the measures."

In addition, Wen said China would help Africa not only build up its infrastructure through continued financial support, but it would also send in about 16,000 medical personnel among other specialists to help the country build up its medical facilities as well as its education and agricultural systems.

So even though Japan has the world's second-largest economy, while South Korea is close at its heels, it is to Beijing that many African leaders are looking to, not just as an example of wild success that can be achieved in such a short time, but also as an economic partner with whom they can do business in the longer term.

For its part, China may well be looking to Africa and to the African Development Bank in particular as a forum to further its own diplomatic objectives as well. Currently, when it comes to regional development banks, the Asian Development Bank continues to dominate the field in the region, and the ADB itself continues to be dominated by Japan as its single-largest shareholder, much like how the United States is the biggest player at the World Bank.

While the African Development Bank, however, ultimately strives to improve economic conditions in Africa, there is no single country that dominates the organization. Meanwhile, even though several non-African countries belong to the bank, namely the United States, Japan, India, Britain and France as well as China, most non-African members have not been active in their participation in the agency.

There is growing speculation, therefore, that China will strive to play a growing influence in the agency as part of its efforts to expand its relations with the continent. Meanwhile, for African nations, it may well be easier for them to do business with China, in light of their less stringent views on human rights and other political issues. For instance, even as the United States and others continue to designate Sudan as a terrorist state, China has secured effectively two-thirds of Sudan's oil supply by turning a blind eye to the military regime.

At the same time, China is working hard to win over the hearts and minds of Africans on a grassroots level. Japanese broadcaster Nippon Television pointed out that China has been eager to attract African students to study at Chinese schools. The Chinese authorities have already provided scholarships for about 20,000 Africans to study in the country to date, and many of those recipients go on to work in foreign relations-related industries or in multinational corporations.

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