This announcement was made during the Forum on China-Africa Cooperation summit held in Beijing on September 5, where leaders from over 50 African nations convened.
According to Straight Arrow News, China's plan encompasses the enhancement of trade, agriculture, and infrastructure development, with a pledge to create at least a million jobs. Xi Jinping has also expressed a wider commitment to Africa's modernization, promising "$30 billion in credit lines, $10 billion in investments by Chinese companies," and other forms of assistance, including military aid. He underscored that modernization is a universal right and criticized the Western approach for inflicting "immense suffering" on developing nations.
China's intensified involvement in Africa is part of a larger strategy to elevate its status in the global south. This strategy comes as China continues to establish itself as Africa's principal trading partner, surpassing the U.S. in 2009. In the previous year, China approved nearly $5 billion in loans, marking the first increase since 2016. However, concerns have been voiced regarding the escalating debt burden on African nations.
In stark contrast, the United States pledged $55 billion to Africa in 2022, with a focus on health, climate change, and women's economic participation. Since May, the Biden-Harris administration has inked 75 deals aimed at achieving its aid goal by 2025. U.S. initiatives prioritize public health, with substantial investments in HIV/AIDS treatment, malaria prevention, and COVID-19 response.
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Xi Jinping's latest commitment also indicates a shift in China's strategy. Veering away from larger, debt-heavy infrastructure projects, he is concentrating on smaller, targeted initiatives, which he termed as "small and beautiful." These endeavors will prioritize clean energy, industrial growth, and advanced technologies, addressing Africa's energy shortages while promoting sustainable development.
