China Offers Africa $51B and 1M Jobs

Facts

• During the China-Africa Cooperation Summit (FOCAC) in Beijing on Thursday, Pres. Xi Jinping promised to invest $51B across the African continent over three years, claiming its investments would create 1M jobs.^[1]
• The 2024 FOCAC, the ninth such gathering since its creation, is attended by more than 50 African heads of state, including many, such as presidents of South Africa and Kenya, speaking with Pres. Xi separately ahead of the event.^[2]
• China's investment plan is a 10-part agenda, the goal of which is 'modernization that is just, equitable, open, win-win, eco-friendly, featuring diversity and inclusiveness and underpinned by peace and security.'^[3]
• While China has been Africa's leading economic partner since 2009, it failed to buy the $300B worth of African goods it promised at the last summit in 2021.^[2]
• However, since 2000, China has helped the continent build around 100K kilometers (62K miles) of highways and 10K kilometers (about 6.2K miles) of railways, as well as 200 schools, more than 130 hospitals, almost 100 ports, and 50 stadiums.^[3]

Sources: ^[1]Reuters, ^[2]CNBC and ^[3]Aa.

Narratives

• Establishment-critical narrative, as provided by Youtube. The problem with public criticism of China-Africa relations is that you never know which story was influenced by Western intelligence agencies. Whether you like China's investment strategy or not, it's important to know that the majority of African debt is from Western countries and private firms. Those interested in this issue shouldn't let the CIA sway their opinion on the matter.
• Pro-establishment narrative, as provided by ISS Africa. While China may not be the only player lending money to Africa, it certainly is the only one scheming to trap the continent in an unsustainable amount of debt. Contrary to the West, Beijing's loans contain hidden conditions that favor the PRC at the expense of already struggling nations. Why would the terms of this agreement be any different?