The Myth of the Chinese Debt Trap in Africa

Over the past two decades, China has built large infrastructure projects in almost every country in Africa, making Western powers uncomfortable amid wider concerns about Beijing’s investments across the continent. However, a deeper look shows that accusations of so-called debt trap diplomacy turn out to be unfounded.

#Africa #China #BloombergQuicktake

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"Whenever China visits your country, a new hospital is built. Whenever a western country visits Africa, you get a lecture." - Kenyan diplomat.

[vladimirvladimirovichputin]

I am serbian . I have lived in african countries as a child because my father works in embassy. One thing I can tell you before chinese investments no one cared about africa they just looted resources the western countries especially France looted much from north and west Africa.a Things like gold, diamond and other natural resources like lithium with help of corrupted african political. As I remember living in africa there were no malls, big shopping complexes, proper infrastructure and connectivity like trains, bus in cities but slowly after chinese investments Things changed fastly internet was introduced in large scale by chinese companies which helped other locals also get internet, malls were built, brands came in africa many trains and ports projects were introduced all across africa and many more industrial and commercial services increased. I Have learned about chinese debt trap policy but it is far better than western countries one sided trades which always destroyed and looted africa.

[qrbgojm]

What is a "debt trap?" In the 1980s, Nigeria in Africa borrowed interest at 31% from the International Monetary Fund, while the West took minerals from Nigeria without leaving any infrastructure behind. However, they gradually controlled Nigeria's entire mineral resources and still owed debts that the International Monetary Fund could not repay.

[soufianemihni]

I live in Morocco, north of Africa, the Chinese companies are well known here with their high level of quality projects with advantageous prices. Unlike their European counterpart. And for the US companies they're close to non-existing other than their military bases. So that label of debt trap was originally created by the west because they were losing the African market to China.

[marcusms]

So everyone complained it was too risky to invest in Africa but when someone finally invests Africa they call it debt trap? Africa needed the infrastructure to modernize, it's a deal made willingly. Don't criticize if you're not going to help.

[pingchang]

Most home owners in United States are in debt trap by this definition.

[Chrisroygbiv]

“We don’t do charity, we do business” and that’s that Africa wants 👏

[richhornie]

A Western corporate media describing China posivitely. What the heck happened?

[onestand]

As African, the changes we have in the last years of China collaboration in term of developement have never been seen with centuries of ties with the West

[kevinl]

The west: "It's 100% a debt trap, we've done it thousands of times"

[Awakeningspirit]

Debt-trap diplomacy? That sounds like what America does to countries like Argentina...

[homegbafe]

The World Bank may have shareholders, but its head is chosen by the US, and not the shareholders. The 'World Bank' is essentially owned, and controlled by the USA; the 'shareholders' are just a deceptive facade.

[notevennelson]

The fact that Chinese investment managed to finally force the West to actually really invest in Africa as countries of sovereign dignity, rather than see them only as beggars for ‘aid’, is in itself, alone, a significant benefit to Africa and other developing regions. After all, had China not done it, who knows how many more decades and centuries it would take.

[obiwankenobi]

as a kid i couldnt understand why we (the west) keep sending medical aid and food to africa instead of building infrastructure and education. i didnt know about geopolitics and endless corporate greed back then. slowly even i understood that it wasnt about really helping the people there....

[TaoDeChing-lsgz]

Another important observation is China doesn’t just invest in mega projects, it’s private citizens are willing to move to Africa and open businesses themselves, ranging from small restaurants, to manufacturing of all kinds of products. This hires Africans from all stratum of society. Western investments only benefit the large US corporations.

[ryank]

A bank lend you money to buy a house, if you can't pay, the bank take it away.... "it's a debt trap" says no one ever in US, especially during 2008.

[AekAmir]

I'm really hearing this in a Bloomberg documentary?

[puffinjuice]

Wasn't expecting this from Bloomberg! Great to see some impartial reporting.

[thedamnedatheist]

The US & EU have a very short memory of the kind of debt diplomacy they practiced in Africa through the IMF & World Bank & the conditions they forced onto countries.

[JonKino]

China builds more roads in Africa in the past 20 years than the western colonial powers did in 400 years.
Put that into perspective.