By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- As record has it, China has many lessons for African nations, in how it has alleviated over 850 million people out of poverty over the last forty years, partly by expanding infrastructure rapidly with a focus on roads, ports and factories.
Though China has had a relationship with Africa, that goes back some 2,000 years through to the Cold War era; it is in the last two decades its presence has grown significantly in every way: economically, geo – strategically, culturally and much more. There are million Chinese workers spread across the Africa continent. In that twenty years period, China has grown to become the biggest and most influential foreign player on the continent, something that has become a bone of contention for the current US White House.
As the fact speaks for itself, China is now Africa’s largest trade partner, its leading infrastructure funder, and it’s fastest – growing source of Foreign Direct Investment. In this regard, China is also the No 1 source of bilateral debt for some of the continent’s biggest economies and with that; has come uncomfortable neocolonial narratives which are difficult to shake off on the true intentions of Chinese loans
Precisely, the myths and realities of Chinese debt in Africa, it’s certainly not all bad but it also isn’t quite the “win – win” situation.
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent
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