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In the last decade, investment in Africa by the world's second-largest economy has surged to $2.9 billion from $75 million, and with it China's influence can be seen everywhere, Zhang Yuwei reports from New York.

When Asoka Ranaweera helped on a project to build an Ethiopia glass factory backed by the China Africa Development Fund in 2009, he considered it a "flagship investment" given the size of the investment at the time.

It was to be Ethiopia's first glass factory - worth $15 million - and built by Chinese investors through the CADF, a private-equity fund. The fund set up in 2007...

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