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RE: LeoThread 2024-12-05 13:23

in LeoFinance3 months ago

Part 4/9:

The Belt and Road Initiative, introduced in 2013, has been instrumental in channeling over $91 billion into Africa, facilitating projects related to transportation, energy, and mining. Moreover, at the September Forum on China Africa Cooperation, President Xi Jinping pledged an additional $51 billion for further development on the continent.

However, this Chinese engagement raises critical concerns. Critics argue that many of the funded projects lack economic sustainability, leaving Sub-Saharan African nations overburdened with debts amounting to more than $400 billion to China. Allegations of corruption, notably bribing officials for contracts, further complicate the narrative of Chinese investments as purely beneficial.

The Signs of U.S. Engagement