Shipments from Africa to China fall 12.4 per cent in first half of 2023, despite Beijing’s push to buy more goods from the continent, as lower prices for crude oil and other commodities contribute to falling trade figures.
There is a certain irony when a U.S. envoy travels to Africa to warn his hosts about the dangers of borrowing money from China. The United States, after all, is the world’s most indebted country and borrows more from China than any other nation in the world. In fact, China owns more than a trillion dollars of U.S. debt, nearly 20 percent of Washington’s $6.3 trillion of
Every week seemingly brings a new announcement of a Chinese-financed mega project somewhere in Africa. Last week’s announcement of a $5.8 billion power station in Nigeria that will be financed and built by Chinese state-owned companies is typical of the scope and scale of Chinese lending activity in Africa.