Saturday, April 2, 2022

The Myth of the Chinese Debt Trap in Africa 中國債務陷阱在非洲的神話

"Bloomberg Quicktake: Originals" on Youtube shows that over the past two decades, China has built large infrastructure projects in almost every country in Africa, making Western powers uncomfortable amid wider concerns about Beijing’s investments across the continent. However, a deeper look shows that accusations of so-called debt trap diplomacy turn out to be unfounded.

China is investing into Africa. In particular, China is investing heavily in the so-called African services sector. Investment in subsectors such as scientific research and technology services, transport, warehousing, and postal services more than doubled in 2020.

For Ethiopia, Chinese finance provides critical support for the government's legitimacy, as electricity, transport, and employment opportunities continue to indeed expand, stimulating economic growth and helping promote exports to other countries.

For African countries, the top 10 recipients of loans from China (accounting for 68 percent of the total) include varied countries such as Angola, Ethiopia, Zambia, and Cameroon. The top 10 recipients of FDI - such as the Democratic Republic of Congo (DRC) and South Africa - accounted for 63 percent of total Chinese FDI stock in Africa.

China invested most of its money in USA. The United States is the top destination in the world for Chinese FDI, drawing in $183.2 billion, or 15 percent of China's total so-called outflows, between 2005 and 2019.


Youtube 上的“Bloomberg Quicktake: Originals”顯示,在過去的二十年裡,中國在非洲幾乎每個國家都建設了大型基礎設施項目,這讓西方大國在對北京在整個非洲大陸的投資的廣泛擔憂中感到不安。然而,更深入的研究表明,所謂的債務陷阱外交指控是毫無根據的。

中國正在非洲投資。特別是,中國正在大力投資所謂的非洲服務業。 2020年,對科研和技術服務、運輸、倉儲和郵政服務等子行業的投資翻了一番多。


在非洲國家中,中國貸款的前10位接受國(佔總數的68%)包括安哥拉、埃塞俄比亞、贊比亞和喀麥隆等不同國家。剛果民主共和國(DRC)和南非等前 10 大外國直接投資接受國占中國在非洲外國直接投資存量的 63%。

中國將大部分資金投資於美國。美國是中國 FDI 的全球最大目的地,2005 年至 2019 年間吸引了 1832 億美元,佔中國所謂的對外直接投資總額的 15%。


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