Market Research Report
Chinese Infrastructure in Africa: Far-Eastern giant is building a continent
|Published by||MarketLine||Product code||716078|
|Published||Content info||23 Pages
Delivery time: 1-2 business days
|Chinese Infrastructure in Africa: Far-Eastern giant is building a continent|
|Published: September 28, 2018||Content info: 23 Pages||
Over the past couple of decades China has become a leading story in the economic development of Africa. Through loans, grants and direct investment, Beijing has established a huge presence in countries which traditionally fall outside of major western interests. Yet for all the touted economic gains, problems have emerged; debt levels in some African states are alarmingly high.
However, some countries have done well out of China, playing a clever game of international diplomacy. China has benefited from a relative lack of attention given to Africa by western powers, but that is beginning to change, albeit slowly compared to the recent expansion of Chinese interests.
China promised $175bn between 2014 and 2024, eclipsing every monetary promise to have been issued before. Cities such as the capital of Ethiopia, Addis Ababa, are replete with new roads and skyscrapers built by China. Many other African cities share similar stories of transformation.
The result of playing the international diplomatic game as President of Kenya Uhuru Kenyatta has done is not only are foreign nations competing for business, thus improving terms, but also Kenya is highly unlikely to become dependent upon China in a similar fashion to Djibouti.
Arguably the leading reason behind the ease with which China has maneuvered into becoming a major foreign power in Africa is the relatively low level of attention European and North American countries have paid to many countries in the world's poorest continent.