Looks like it will be cassava.
Ok to what tune does Xi has Felix's balls in a twist, what this doesn't explain is how much money China owes to the DRC.
We better understand that China doesn't come completely empty handed to the negotiating table.
Developing Countries Receiving the Most Loans from China
Published
2 months ago on December 11, 2023
By
Marcus Lu
Article/Editing:
Graphics/Design:
Which Developed Countries Receive the Most Loans from China?
According to the IMF, the most indebted poor countries in the world all have taken big loans from China.
Critics refer to this as “debt-trap diplomacy,” in which China deliberately provides loans to countries it knows are unable to pay, with the hope of gaining political leverage.
In this infographic we use data from the
US-China Economic and Security Review Commission to list heavily indebted countries by their total loans from China.
China’s Massive Belt and Road Initiative
Much of China’s loans are part of the country’s wider investments in global infrastructure: the
Belt and Road Initiative (BRI).
Launched in 2013 and also referred to as the New Silk Road, the BRI stands as one of the most ambitious infrastructure projects ever conceived. Its goal is to create a vast network of railways, energy pipelines, highways, and streamlined border crossings.
In the process, Chinese state-owned creditors rapidly
scaled up the provision of foreign currency-denominated loans to resource-rich countries, specially in Africa.
Country | Loans from China | Region |
---|
Ghana | $31.1B | Sub-Saharan Africa |
Guinea | $21.9B | Sub-Saharan Africa |
Ethiopia | $14.8B | Sub-Saharan Africa |
Tanzania | $12.6B | Sub-Saharan Africa |
Democratic Republic of the Congo | $12.1B | Sub-Saharan Africa |
Republic of the Congo | $11.4B | Sub-Saharan Africa |
Mozambique | $7.9B | Sub-Saharan Africa |
Sudan | $6.7B | Sub-Saharan Africa |
Zambia | $4.6B | Sub-Saharan Africa |
Bolivia | $4.1B | Latin America and the Caribbean |
Chad | $3.2B | Sub-Saharan Africa |
Senegal | $3.1B | Sub-Saharan Africa |
Niger | $2.7B | Sub-Saharan Africa |
Mali | $2.6B | Sub-Saharan Africa |
Cameroon | $1.8B | Sub-Saharan Africa |
Among the heavily indebted countries, 14 of 15 are African nations, many of the
poorest in the world, like Sudan, Niger, Mozambique, Chad, and the Democratic Republic of Congo. The sole non-African country on the list, Bolivia, is also one of the poorest nations in South America.
According to the US-China Economic and Security Review Commission, 60% of China’s debtor nations were in financial distress in 2022, up from 5% in 2010.
In addition to gaining preferential infrastructure accesses, China is gaining political allies. Many countries on this list, like the Republic of the Congo, have publicly supported China’s positions in Hong Kong and in the South China Sea.