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Africa, hungry for acceptance into the big economic leagues, has sprung on every possible merger and acquisition it can hold or get into, a strategy very reminiscent of China two decades ago.

In the 1980s, China jumped on every possible and available M&A when it opened its markets to foreign companies in exchange for technological know-how, Chunlin Zhang, specialist at the World Bank, said in The Globe and Mail. The rest is history.

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