As the titans of Western democracy are slowly eclipsed by emerging markets, the G20 appears a better equipped forum than the G7 to navigate the challenges of the global economy. But to succeed where the G7 has failed, the G20 must redefine its membership and broaden its mandate.

Rather than see that fall in investments as a threat to Africa's development as it first appears, research and conversations with businesses in China and Africa reveal that the recent decline in Chinese investments could actually completely transform the economic relationship for the better. Xi's statement and this new plan, announced at the second annual Forum on China-Africa Cooperation, could actually be the first signs of this change.