Earth Science News  
AFRICA NEWS
China-Africa summit to target investment despite debt worries
by Staff Writers
Beijing (AFP) Aug 31, 2018

African leaders will gather in Beijing Monday for a summit focused on economic ties, granting China a feel-good photo opportunity as it comes under increasing fire for its debt-laden approach to aid in the developing world.

President Xi Jinping will host leaders from across the continent for the two-day Forum on China-Africa Cooperation, which will include talks on his cherished "Belt and Road" infrastructure programme.

The massive scheme, aimed at improving Chinese access to foreign markets and resources, and boosting its influence abroad, has already seen Beijing loan billions of dollars to countries in Asia and Africa for roads, railways, ports and other major building projects.

"The initiative will probably be expanded to include the whole of Africa," said Cobus van Staden, senior researcher on Africa-China relations at the South African Institute of International Affairs.

While some critics have branded the strategy a debt-trap, African leaders have long embraced Chinese investment, helping make Beijing the continent's largest trading partner for the past decade.

At the last three-yearly gathering in Johannesburg in 2015, Xi announced $60 billion of assistance and loans for Africa.

This year, China will want to add more African countries to "its ever-expanding list of 'friendly' nations", especially from the north and francophone west, said Adebusuyi Isaac Adeniran, an expert on the relationship at Nigeria's Obafemi Awolowo University.

"For the African side... the need for Chinese money would still occupy the centre-stage."

- In China's debt -

China has provided aid to Africa since the Cold War, but Beijing's presence in the region has grown exponentially with its emergence as a global trading power.

Chinese state-owned companies have aggressively pursued large investments in places like South Sudan and the Democratic Republic of Congo, where natural resources are cheap and abundant.

Africa's resources have helped fuel China's transformation into the world's second largest economy.

Yet while relations between China and African nations are broadly positive, concerns have intensified about the impact of some of China's deals in the region.

Djibouti's public debt jumped from 50 percent of GDP in 2014 to 85 percent in 2016, causing the International Monetary Fund to sound the alarm.

China opened its first overseas military base in the Horn of Africa country last year -- a powerful signal of the continent's strategic importance to Beijing.

Locals in some countries have complained about the practice of using Chinese labour for building projects and what are perceived as sweetheart deals for Chinese companies.

Residents of one city in Madagascar spent months in 2016 protesting the government's grant of a 40-year gold mining licence to a Chinese firm.

In Kenya, a Chinese-financed railway has drawn criticism over its massive debt and incursion into national parks.

However, Kenya's transport minister said last week that a $3.8 billion contract for the project's second phase would be signed at the Beijing summit.

- 'Not puppets' -

Big infrastructure projects funded by the world's second-largest economy have come under scrutiny in other parts of the developing world, particularly Southeast Asia.

Malaysia's new prime minister, Mahathir Mohamad, has cancelled Chinese-backed projects totalling $22 billion and during a recent trip to Beijing issued a thinly veiled warning about a "new kind of colonialism".

Meanwhile, as China grows wealthier and more powerful, the nature of its relationship with Africa has begun to change.

Beijing has attempted to move away from its domestic reliance on heavy industry towards a more consumption-oriented growth model.

This means it has put "more focus on manufacturing and assembly in Africa" instead of "just looking at Africa as a market", Van Staden said.

This shift has partly been driven by government encouragement, but Africa has also become more attractive for Chinese industrialists seeking to cut costs as wages rise at home.

"China is looking to invest in labour-intensive manufacturing since it's getting old and rich itself," said University of Melbourne China expert Lauren Johnston.

While Africa's interest in Chinese cash isn't likely to wane any time soon, next week's gathering may not be all plain sailing for the Asian giant.

Last week Namibia's President Hage Geingob dressed down the country's Chinese ambassador after the envoy tried to tell him what to say at the summit.

"You should not tell us what we should do," Geingob said. "We are not puppets."


Related Links
Africa News - Resources, Health, Food


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


AFRICA NEWS
Jihadist leader killed in Mali French airstrike: army
Paris (AFP) Aug 27, 2018
A top jihadist leader of the Islamic State in the Greater Sahara group, an aide and two civilians have been killed in northeastern Mali by a French airstrike, the French command centre in Paris said Monday. "Commandos deployed on the ground (after the airstrike) confirmed the death of Mohamed Ag Almouner and one of his bodyguards. They also found the bodies of a woman and a teenager," an army statement said. Another member of ISGS was wounded, along with two other civilians. The jihadist lea ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

AFRICA NEWS
Plant biodiversity essential to bee health

Bees get hooked on harmful pesticide: study

Environmentally friendly farming practices used by a third of global farms

French tomato grower takes on Monsanto over weedkiller

AFRICA NEWS
Myanmar dam overflow floods 100 villages

Cook Islands does not want China debt write-off

Portable freshwater harvester could draw up to 10 gallons per hour from the air

Kelp forests function differently in warming ocean

AFRICA NEWS
India's devastating rains match climate change forecasts

Rain brings relief to drought-stricken Australia farmers

California plain shows surprising winners and losers from prolonged drought

Abrupt thaw of permafrost beneath lakes could significantly affect climate change models

AFRICA NEWS
Air pollution can put a dent in solar power

German students try to tame Australian desert with solar powered vehicle

Russelectric Announces Distributed Energy Controller

Russelectric utility paralleling systems ensure no interruption of critical loads

AFRICA NEWS
Biodegradable plastic blends offer new options for disposal

Breakthrough could see bacteria used as cell factories to produce biofuels

Producing hydrogen from splitting water without splitting hairs

Serendipitous discovery by IUPUI researchers may lead to eco-friendly lubricant

AFRICA NEWS
Italy to push EU to rotate ports for migrant arrivals

'Dialogue of the deaf' pits Italy against EU on migrants

Controversial Fukushima nuclear statue to be removed

Facebook move on Myanmar raises thorny political questions

AFRICA NEWS
Iraq short on spare gas and diesel supplies

Russia, Saudi Arabia to discuss oil market issues

Equinor identifies Brazil as a core area of focus

Oil prices supported by strong U.S. GDP

AFRICA NEWS
Trump's trade pledges have backfired, energy trade group says

China-backed trade pact talks at 'critical stage': Singapore PM

Kazakh port in decline bids for slice of China trade

Rights groups urge Google not to bend to China censors









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.