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China doubles its commitments to Africa as it strengthens its support to developing countries in a growing trade war with the United States.
Chinese President Xi Jinping's visit to four African BRICS countries meets with emerging economies – Brazil, Russia, India, China and South Africa, which hosted the summit.
But some observers say that Beijing is ambitiously pushing the flagship investment and infrastructure project of Xi, the "Belt and Road Initiative" China is still facing the problem of debt on the second largest continent of the world.
Xi Visits Senegal, Rwanda, South Africa, and Mauritius As the US-China trade war intensifies, US President Donald Trump accuses Beijing of unfair practices and theft of innovation, and threatens punitive tariffs on hundreds of billions of dollars In the coastal region of West Africa, Xi and Senegalese President Macky Sall have overseen the signing of agreements on belt and road projects, Xi's plan to link countries to a China-centric trade network. As part of this strategy, Beijing will invest hundreds of billions of dollars in infrastructure, such as roads and ports, to connect China to the rest of the world.
Agreements with Senegal, a nation of 15 million Xiang residents sign the belt and road project for Senegal and promises to tighten ties with Africa
As the first Chinese president to visit Rwanda, one of the poorest countries in the world struggling to lift its economy 24 years after a devastating genocide – Xi called on more Chinese companies to invest in Central and East Africa. The two countries signed 15 agreements, including $ 126 million in loans for two road projects.
In South Africa, the most industrialized nation of the continent, Xi promised to increase Chinese imports and promised a loan of 2.5 billion dollars. In total, Xi has granted $ 14.7 billion in South African investments, more than double the $ 6 billion it promised to the nation at the Forum on Chinese Cooperation Meetings. in 2015. [LatournedinMarketsandCommentsfordefendingrelationsystemofthelateralgreen-changethanksforwardhandleadingPelekindanspecialyoureffortstodaytowardseconomicdevelopmenttrendsonthighlywithTrumpquiamonthelp"intheregion
" Since the leaders of the Euro-American world visit Africa little, this is significant in and of itself. same, "said Ross Anthony, director of the Center for Chinese Studies at the University of Stellenbosch in South Africa. "This gives African states an idea of the importance of China, given its importance on the world stage."
Chinese companies do not hide their interest in the continent and its rich resources, according to a new report by Baker McKenzie, an international law firm based in Chicago
Loans granted by Chinese lenders for Energy and infrastructure projects in Africa nearly tripled between 2016 and 2017, from US $ 3 billion to US $ 8.8 billion. Chinese lenders, especially the China Development Bank and China Exim, accounted for nearly half of the region's infrastructure financing in 2017.
But Beijing's involvement in Africa has made it the largest in the world. subject to careful examination. Countries like Kenya and Djibouti have been warned after China flooded them with billions of dollars in loans and investments in infrastructure. US officials said that most projects do not benefit local economies, and that countries would be in debt to China and subject to its influence.
China denied such claims, claiming that the infrastructure was huge. The investments "follow the golden rule of benefits shared by consultation and contribution, and have given 2.2 billion dollars of tax revenue and more than 200,000 jobs to cooperation partners," said the spokesman. Foreign Ministry Speech Hua Chunying. Traps could be among the main challenges Xi faces as he pushes his belt and his road map, which is the cornerstone of Chinese foreign policy and the pursuit of Beijing's national rejuvenation
van Staden , an expert from China at the South African Institute of International Affairs, adding that such concerns could have been discussed at Xi's recent meeting
Investing in Africa is well suited for long-term projects of China
Chinese investments in Africa may set off further setbacks on a continent marked by a dark history of European colonization, However, as financing infrastructure remains a major problem for most African countries, experts have stated that it was not easy to find a balance.
"African countries also face the costs of systemic underdevelopment when they lack infrastructure," van Staden said. "There is a complex balance between setting up debt sustainability and investing in high-capital investments that are critical to development, including infrastructure." "
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