Economy of Cape Verde Economy of Cape Verde Cape Verde is a small archipelagic nation that lacks resources and has experienced severe droughts. Agriculture is made difficult by lack of rain and is restricted to only four islands for most of the year. Most of the nation's GDP comes from the service industry. Cape Verde's economy has been steadily growing since the late 1990s, and it is now officially considered a country of average development, being only the second African country to have achieved such transition, after Botswana in 1994. Cape Verde has significant cooperation with Portugal at every level of the economy, which
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