China and Africa

Strangelove

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China forgives 23 loans for 17 African countries, expands ‘win-win’ trade and infrastructure projects​


China is forgiving 23 interest-free loans for 17 African countries, after already cancelling $3.4 billion and restructuring $15 billion of debt from 2000-2019. Beijing pledged more infrastructure projects and offered favorable trade deals in a “win-win” model of “mutually beneficial cooperation.”

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Published 13 hours ago


China Africa debt

Chinese President Xi Jinping at the Forum on China-Africa Cooperation in 2018


The Chinese government has announced that it is forgiving 23 interest-free loans for 17 African nations, while pledging to deepen its collaboration with the continent.

This is in addition to China’s cancellation of more than $3.4 billion in debt and restructuring of around $15 billion of debt in Africa between 2000 and 2019.

While Beijing has a repeated history of forgiving loans like this, Western governments have made baseless, politically motivated accusations that China uses “debt-trap diplomacy” in the Global South.

The United States has turned Africa into a battleground in its new cold war on China and Russia. And Washington has weaponized dubious claims of Chinese “debt traps” to try to demonize Beijing for its substantial infrastructure projects on the continent.
For its part, China has pushed back against the US new cold war.

Chinese Foreign Minister Wang Yi held a meeting with leaders from various African countries and the African Union on August 18.
In the conference, Wang condemned the West’s “zero-sum Cold War mentality.” He instead proposed a model based on “multi-party cooperation” with Africa that brings “win-win results” for all sides.

“What Africa would welcome is mutually beneficial cooperation for the greater well-being of the people, not major-country rivalry for geopolitical gains,” he said.

Wang revealed that Beijing will support the African Union in its efforts to
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.
The foreign minister also announced that “
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that had matured by the end of 2021.”

Beijing pledged to strengthen trade with Africa, and has made agreements with 12 countries on the continent to remove tariffs for 98% of the products they export to China, increasing the competitiveness of African goods.

Wang said Beijing will continue to provide food, economic, and military aid to Africa, while offering assistance in the fight against covid-19.

Emphasizing the importance of “development cooperation,” China offered billions of dollars of investment in infrastructure projects as “a strong boost to Africa’s industrialization process.”

Africa plays an important role in Beijing’s Belt and Road Initiative, a global infrastructure project aimed at interconnecting the Global South and moving the center of the world economy back east.

“In the face of the various forms of hegemonic and bullying practices, China and Africa have stood with each other shoulder to shoulder,” Wang stressed, calling to “safeguard international fairness and justice.”

US diplomats visit Africa, pressure it to cut ties with China and Russia​

China’s comments and promises to deepen “mutually beneficial cooperation” with Africa could hardly have been any more different from those made by top US diplomats.

The US ambassador to the United Nations, Linda Thomas-Greenfield, visited Uganda and Ghana in the first week of August. There, she threatened the continent, telling African nations they
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, or they will be violating Western sanctions.

Thomas-Greenfield
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, “As for sanctions that we have on Russia – for example, oil sanctions – if a country decides to engage with Russia where there are sanctions, then they are breaking those sanctions; they’re breaking our sanctions and in some cases they’re breaking UN sanctions with other countries, and we caution countries not to break those sanctions because then, if they do, they stand the chance of having actions taken against them for breaking those sanctions.”

US Secretary of State
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South Africa, the Democratic Republic of the Congo, and Rwanda from August 7 to 11, as part of a trip aimed at weakening
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.

‘The Chinese “debt trap” is a myth’​

One of Washington’s most powerful weapons in its information war on China is its evidence-free accusations that Beijing is supposedly trapping African nations in debt.

Yet as
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, Western governments, financial institutions, banks, and vulture funds are responsible for the vast majority of debt that Global South countries are trapped in.

The UK government’s own state media outlet BBC investigated allegations of “debt trap diplomacy” in Sri Lanka and reluctantly concluded that they are false.

“The truth is that many independent experts say that we should be wary of the Chinese debt trap narrative, and we’ve found quite a lot of evidence here in Sri Lanka which contradicts it,”
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in a dispatch.

Similarly, mainstream academics at
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and Harvard Business School acknowledged in Washington’s establishment magazine The Atlantic that “
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.”

Scholar Deborah Brautigam wrote that the US government-sponsored narrative is “a lie, and a powerful one.”
“Our research shows that Chinese banks are willing to restructure the terms of existing loans and have never actually seized an asset from any country,” she added.

Brautigam found that, between 2000 and 2019, China cancelled more than $3.4 billion and restructured or refinanced around $15 billion of debt in Africa, renegotiating at least 26 individual loans.

This past debt forgiveness is in addition to the 23 interest-free loans for 17 African countries that Beijing has announced it will pardon.
 

Biscuits

Major
Registered Member
An old joke I heard goes like this.

Three government officials from China, India and Africa (pick your favorite African country) often meet up on conferences. Eventually they become good friends and invited each other to their own homes.

First they went to China and drove on a new 4 lane highway. The Chinese official had a big mansion for his guests to visit. The Indian and African official asked, how did you afford such a big house on government salary? The Chinese official said: see that highway we drove in on? I skimmed a bit from that project.

Then they went to India and drove on a 2 lane pothole filled dirt road. The Indian official had an even bigger mansion. He skimmed more from the road project than the Chinese guy.

At last they went to Africa and flew in a helicopter over virgin forest to a grand palace. The Indian and Chinese officials asked how the money was made. The African official said: see the highway we flew over? The Chinese and Indian guys ask: what highway? There was only forest. The African official said : exactly, I told the entire budget.

And that explains everything you need to know about corruption in Africa/India/China. At least in china, stuff gets done. However, Africa is a billion people market like China in 1980. So if can get them to even spend $1 per person, it's a lot of money to be made.
The American official is the same as the African one, except he says "I didn't steal anything from the budget, it was just lobbying". When they land, they see a massive yacht in his yard and asks "did you skim that one off the highway budget too?". The US official replies: "No, my wife won that one in the stock market after she shorted the company that would have built the highway"
 

getready

Senior Member

Another good episode on differences between what China is doing to develop relationsip with African countries compared to US. Which the latter is basically confined to just responing to China's policy and military stuff. Like the much mocked africom
 

tphuang

Lieutenant General
Staff member
Super Moderator
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Positive press out of Africa for China and BRI

Somalian journalist visiting Huawei

These are the kind of events China should be hosting constantly with media members and intellectuals and influencers from Africa. Also positive press from a Muslim visiting Chinese mosque.
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Some American organization complaining about China influencing foreign media. In this case through ownership in Cape Time.
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I don't really care about what that person says, but the more relevant part is that China needs to get more proactive at getting its view across anyway it can. Western countries are very good at this. Saudi Arabia is very good at this. Even Russians were good at this through Right wing parties. China needs to use its influences.
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