world

China offers another $60 bil to Africa

8 Comments
By Christian Shepherd and Ben Blanchard

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$60 billion will include $15 billion of aid, interest-free loans and concessional loans, a credit line of $20 billion, a $10 billion special fund for China-Africa development, and a $5 billion special fund for imports from Africa.

China is acting more like a mobster. Also reads more like a bribe, not only to get the recipient country to become more politically indebted (despite what China says), but also to sway alliance away from Taiwan.

There's no such thing as a free lunch.

Beijing has also fended off criticism it is only interested in resource extraction to feed its own booming economy, that the projects it funds have poor environmental safeguards, and that too many of the workers for them are flown in from China rather than using African labour.

Why else would China be investing massively in Africa? Not only resource extraction but also to control the precious metals market and other natural resources. As for direct investment and using Chinese labour instead of African labour, it makes it easier for China to control the projects and complete without threats of local labour strikes and corrupt government interference.

Chinese officials say this year's summit will strengthen Africa's role in Xi's Belt and Road initiative to link China by sea and land with Southeast and Central Asia, the Middle East, Europe and Africa through an infrastructure network modelled on the old Silk Road.

As one poster in another article put it, China's Belt and Road program is really about "One Belt, New Colonialism". Accompanying the infrastructure network is a military network to protect China's investment and ensure the recipient country to align with China's global ambitions.

0 ( +0 / -0 )

And when will "THE WEST" attaching the human rights and Democracy to their so called ally like : Kingdom of Sauid Arabia??? Especially in arms sales?? A very hypocritic remarks indeed!!

-5 ( +1 / -6 )

Africa is China's open playground. The West will help African nations but with the "human rights" and "democracy" strings attached. China will help any despot run country. Very easy to buy such countries.

6 ( +7 / -1 )

Africa is Taiwan's last ally and this does not bode well for Taiwan despite China saying it is just for aid and progress.

4 ( +5 / -1 )

China is on a quest for world domination and they intend to accomplish this by “investing “ in various countries until they have a solid foundation, then before you know it mandarin or Cantonese will become the new official language.

these countries might as well start erecting statues of xi.

5 ( +8 / -3 )

They realize that a stable and prosperous Africa is in China's long term interest. It provides good will, a market for China to sell its goods and to buy Africa’s natural resources.

5 ( +8 / -3 )

They need to be wary of the PRC of Xi. It's a shame though. If the CCP wasn't in power, and China's government was not such an corrupt authoritarian regime where the government would obey the will of the people (not the select few) instead of the people being forced to obey the government... I'd see this in a different light.

5 ( +8 / -3 )

This is a big movement of People's Republic of China (PRC) to People's Republic of Africa(PRA) in Africa of no border to their countries, seems great when economy makes them unified, only an issue will come out the world scenery. They will be belonged to People's Republic of China (PRC) of Xi Jinping. Is that good?

3 ( +4 / -1 )

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