Tang Xiaoyang on Why the U.S., Not China is to Blame for Africa’s Debt Problems
Update: 2024-03-29
Description
While many in the West still contend Africa's worsening debt crisis is largely due to excessive Chinese lending, Tsinghua University Professor Tang Xiaoyang argues that accusation just isn't true.
Instead, the well-known China-Africa scholar contends the main problems facing African borrowers today are anchored in the United States. Most of Africa's debt is priced in U.S. dollars, which is now much more expensive than it was just a few years ago due to higher interest rates set by the Federal Reserve in Washington.
Professor Tang joins Eric & Cobus from Beijing to discuss the current debt situation and what preparations are being made ahead of the Forum on China-Africa Cooperation summit that will take place later this year in Beijing.
Instead, the well-known China-Africa scholar contends the main problems facing African borrowers today are anchored in the United States. Most of Africa's debt is priced in U.S. dollars, which is now much more expensive than it was just a few years ago due to higher interest rates set by the Federal Reserve in Washington.
Professor Tang joins Eric & Cobus from Beijing to discuss the current debt situation and what preparations are being made ahead of the Forum on China-Africa Cooperation summit that will take place later this year in Beijing.
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