[Civsoc-mw] FW: The Week in China-Africa News

Mon Oct 15 10:49:46 CAT 2018

Fyi. Free to subscribe. d

From: The China Africa Project <eric at chinaafricaproject.com> 
Sent: 15 October 2018 07:22
Subject: The Week in China-Africa News

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Exploring every facet of China’s engagement in Africa through multimedia

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Commentary

China's Investing Less Around the World and That's Especially Bad News for Africa

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By eric olander

Co-Host of the China in Africa Podcast

While a growing number of African states are questioning the wisdom of taking on more Chinese debt, there is no doubt over the value of Chinese direct investment. In fact, several countries including Ethiopia, are actually counting on increased Chinese industrial investment to help jump start manufacturing sectors.

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The Top 5 Stories of the Week

1

 <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=4d8eb03f2f&e=3f784f5356> Sierra Leone Cancels $300 Million Airport Deal with China

[CNN] Sierra Leone nixed plans to build a controversial, $318 million airport outside the capital of Freetown with a Chinese company and funded by Chinese loans. The mega project, which was due to be completed in 2022, had been commissioned by the previous president Ernest Bai Koroma in March of this year.

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2

 <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=52c05e3e37&e=3f784f5356> China Says it Will Resolve Debt Issues of ‘Belt and Road’ Projects

[SOUTH CHINA MORNING POST] China acknowledged there were debt issues with some projects under its “Belt and Road Initiative”, saying the government will strengthen macro-supervision on the debt sustainability aspect of its overseas investments. “The debt sustainability issue of belt and road [projects] is a complicated issue, but we will take care of it,” said vice finance minister Zou Jiayi.

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3

 <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=350326b557&e=3f784f5356> African Governments’ External Debt Rises Dramatically, Says Campaign Group

[PUBLIC FINANCE INTERNATIONAL] Increased lending since 2008, falls in commodity prices in mid-2014 and rising US dollar interest rates saw the average African government external debt payments increase from 5.9% of government revenue in 2015 to 11.8% in 2017, according to new data from the non-profit group Jubilee Debt Campaign.

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4

 <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=ebd5c47f9a&e=3f784f5356> OPINION: Is China Really to Blame for Zambia's Debt Problems?

[AL JAZEERA] "It is a tragic irony that China is now being blamed by the West for allegedly doing exactly what the IMF has been doing for decades: providing unsustainable loans to countries in need to further plunge them into debt, weaken state capacity and open up national economies to international investors (primarily from Western countries)." -- University of Agder Professor Vito Laterza  and anthropologist Patience Mususa

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5

 <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=554ade0ca3&e=3f784f5356> OPINION: China's Role as the World's Development Bank Cannot be Ignored

[NPR] "China's far-reaching financing carries considerable risks — for China and the borrowers alike. Rather than welcoming China and helping it learn the hard lessons learned by others, the United States is mistakenly shunning Chinese development finance around the globe." -- Kevin P. Gallagher Director of the Global Development Policy Center at Boston University

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The China in Africa Podcast

 <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=798c54b30e&e=3f784f5356> The U.S. Wants to Challenge China’s Dominance in Lending to Developing Countries. Here's How They’re Going To Do It.

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Aubrey Hruby, a Washington, D.C.-based Africa analyst at the Atlantic Council and an avid supporter of the new International Development Finance Corporation (IDFC), joins Eric & Cobus to provide a high-level introduction to the IDFC and how its lending strategy will differ markedly from what the Chinese are doing in Africa and other emerging markets.

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The Long Read

Each week the China Africa Project showcases research and policy analysis from leading universities and think tanks from around the world.

 <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=2e8a3928a0&e=3f784f5356> Africa Can Get More >From its Minerals by Building Industries to Service Mines

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By Vuyo Mjimba

Chief Research Specialist, Human Sciences Research Council

A critical hurdle to Africa developing a strong industrial base – a prerequisite for any beneficiation – is the dominance <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=d07c5e4d70&e=3f784f5356>  of China and other Asian countries in the labour intensive manufacturing sector.

So why can’t African countries simply emulate China?

A number of factors aided China in its industrialisation drive. Firstly, China is one country with a huge unified market that can produce and consume its own manufacturing output in addition to exporting the same goods.

Africa, for its part, is a continent made up of many countries. This market is fragmented which limits inter and intra country production.

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The China Africa Project is Proud to be Partners with the Following Organizations

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About The China Africa Project

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The China Africa Project was founded in 2010 by journalist Eric Olander and Asian/African scholar Cobus van Staden to serve as a non-commercial,  non-partisan educational multimedia resource that explores every aspect of China’s growing engagement with Africa.

For more information about CAP and its contributors, please visit our website:  <https://chinaafricaproject.us6.list-manage.com/track/click?u=de6c715223b42ee6c619dbe2f&id=da83572e97&e=3f784f5356> www.chinaafricaproject.com.

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