Uganda loses Airport to China

Yahya

VIP
2020 GRANDMASTER
China is playing 3D Chess.

West is playing checkers.
China is proof that empires rise and fall. Truly theirs is an inspiring rise to the top. We somalis must ally ourselves with the next world superpower and learn from them, so that we may recover from our own century of humiliation.
 
Some snippets from an older but still informative article:

The Chinese committed at least US$74bn towards transportation (roads, railways, ports and harbours) and electric power projects between 2000 and 2016,’ says Deborah Brautigam, director of the China Africa Research Initiative (CARI) at Johns Hopkins University School of Advanced International Studies.

In its 2018 Regional Economic Outlook for Sub-Saharan Africa, the IMF says public debt rose above 50% of GDP in 22 countries at the end of 2016, up from 10 countries in 2013. ‘Debt servicing costs are becoming a burden, especially in oil-producing countries, and Angola, Gabon and Nigeria are expected to absorb more than 60% of government revenues in 2017,’ the IMF said.

Despite the different Chinese approach, though, the number of sub-Saharan African countries in debt distress or facing high risk of debt distress rose from seven in 2013 to 12 in 2016, the IMF says. And so African countries are returning to the IMF to seek bailouts.

Source:


 

Trending

Top