Cape Verde economic performance was bolstered by one of the fastest growing tourism industries in the world, as well as by substantial capital inflows that allowed Cape Verde to build up national currency reserves to the current 3.5 months of imports. Unemployment has been falling rapidly, and the country is on track to achieve most of the UN Millennium Development Goals – including halving its 1990 poverty level. In 2007, Cape Verde joined the World Trade Organization (WTO) and in 2008 the country graduated from Least Developed Country (LDC) to Middle Income Country (MIC) status. Cape Verde has significant cooperation with Portugal
Cape Verde–China relations Cape Verde–China relations Cape Verde–People's Republic of China relations refers to the current and historical relationship between the People's Republic of China and Cape Verde. The two states established bilateral relations in April 1976, shortly after Cape Verde gained independence from the Portuguese Empire. Cape Verde is an adherent to PR China's One China Policy. China maintained relations with Cape Verde throughout from 1970s to mid-1990s mainly to prevent the Republic of China (Taiwan) from gaining Cape Verde's international recognition through checkbook diplomacy. However, in the mid-1990s, a number of Chinese capitalists began investing in the island nation and relations