China’s new $50 billion commitment, announced by President Xi Jinping at the Forum on China-Africa Cooperation, to triple the amount of infrastructure projects in Africa over the next three years, while desired by African heads of state, stills draws fire from Western “experts.”
At the FOCAC conference, ending today in Beijing, with the leaders of 53 of Africa’s 54 countries attending, Xi had outlined $30 billion in new credit lines, another $10 billion of new investments by Chinese companies, and much of the rest in military aid. He promised to provide at least 1 million new jobs in Africa.
South Africa’s President Cyril Ramaphosa said yesterday that his country, with a history of unsolved electrical supply problems, could learn from China’s progress. “They already have done exactly what we are seeking to do. So there are lessons for us to learn from China and how to do it.” In responding to reporters’ questions, he also slapped down the “China debt trap” mantra, stating: “I don’t necessarily buy the notion that when China (invests), it is with an intention of, in the end, ensuring that those countries end up in a debt trap or in a debt crisis.”