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This article compares and contrasts Africa’s dealings with both China and India, and analyzes the extent to which they represent market growth and innovation for the 54 African Union member states and the strengthening of rentier regimes. The four interdependent issues addressed are: (i) natural resources and the effects of Dutch disease; (ii) African international specialization and the effects of reciprocal trade or trade creation, upscaling the range of products, and immiserizing specialization; (iii) foreign direct investment (FDI) and its knock-on effects, enclave, and extraversion effects, and the effects of innovation; (iv) the comparative impact of Chinese and Indian aid.