Chinese language President Xi Jinping and his spouse Peng Liyuan pose with leaders of African international locations earlier than a welcome dinner of the Discussion board on China-Africa Cooperation (FOCAC) on the Nice Corridor of the Individuals in Beijing, China, Wednesday, Sept. 4, 2024. | Picture credit score: AP
Chinese language President Xi Jinping hosted greater than two dozen African leaders at a banquet in Beijing on Wednesday, kicking off the town’s largest summit in years with pledges of cooperation on infrastructure, power and training.
China, the world’s second-largest financial system, is Africa’s largest buying and selling associate and has sought to faucet the continent’s huge pure sources, together with copper, gold, lithium and uncommon earth minerals.
It has additionally offered African international locations with billions of {dollars} in loans which have helped construct much-needed infrastructure, however has additionally at occasions stoked controversy by saddling governments with enormous money owed.
Twenty-five African leaders have arrived in Beijing or confirmed their attendance at this week’s China-Africa discussion board, in keeping with a AFP counting, together with some whose international locations face a rising threat of debt misery.
Mr Xi and his spouse Peng Liyuan welcomed company upon their arrival for a lavish dinner on the Nice Corridor of the Individuals on Wednesday night, reside. AFP Pictures proven.
There was additionally a “household” photograph of the assembled leaders and Mr Xi will give a speech on the opening ceremony on Thursday morning.
Chinese language state media praised Xi this week as a “true buddy of Africa,” saying Beijing’s ties had been reaching “new heights” beneath his management.
The Chinese language chief had held talks with greater than a dozen African counterparts in Beijing as of Wednesday, a tally of state media reviews confirmed.
Mr Xi referred to as throughout a gathering on Tuesday with Nigerian President Bola Tinubu, one among China’s largest debtors on the continent, for higher cooperation in “infrastructure improvement, power and mineral sources”, in keeping with the state information company. Xinhua saying.
He additionally pledged cooperation in “funding, commerce, infrastructure, mineral sources” and different areas throughout talks the identical day with Zimbabwean President Emmerson Mnangagwa.
Mr Xi backed Zimbabwe in its combat towards “unlawful sanctions” imposed by the US in response to corruption and human rights abuses by the nation’s leaders.
Geopolitical considerations
Analysts say Beijing’s generosity towards Africa is being recalibrated within the face of home financial issues and that geopolitical considerations over a rising dispute with the US could also be more and more driving coverage.
“Deepening financial engagement with Africa throughout the board” is one among Beijing’s key targets this week, mentioned Zainab Usman, director of the Africa Program on the Carnegie Endowment for Worldwide Peace. AFP.
“In particular areas, even the place such expanded engagement could not make financial sense, it will likely be pushed by geopolitical causes,” he mentioned.
One objective may very well be to cut back the rising commerce imbalance between China and Africa by growing imports of agricultural merchandise and processed minerals, Usman mentioned.
“Satisfying these African calls for is in China’s geopolitical curiosity, to maintain them on its aspect within the dispute with the US”
For his or her half, African leaders will probably search assist for big-ticket points, as they’ve up to now, however may also put higher emphasis on debt sustainability, analysts say.
The latest lethal protests in Kenya had been sparked by the federal government’s want “to repay its debt to worldwide collectors, together with China,” mentioned Alex Vines, director of the Africa Programme at Chatham Home in London.
Mr. Vines and different analysts count on African leaders at this week’s discussion board to hunt not solely extra Chinese language funding but additionally extra favorable lending in mild of those developments.
Revealed – September 04, 2024 10:48 pm IST