Is China's investment in Africa a "debt trap" or an opportunity?
Update: 2024-09-07
Description
In 2022, Africa's external debt reached $655.6 billion, with less than 10% owed to China. Despite this, Western lenders—who account for over 35% of Africa’s debt and typically charge double the interest rates—are often left out of the narrative. Instead, Western media continues to blame Chinese investments for a so-called "debt trap". But what’s the real story behind China's involvement in Africa? CGTN Radio reporter Gao Junya, who spent five years working across the continent, shares firsthand insights into the impact of Chinese investment on Africa's development.
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