• About Us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI English
TFI हिन्दी
Friday, March 24, 2023
TFIGlobal
TFIGlobal
Right Arm. Round the World. FAST.
No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
TFIGlobal
No Result
View All Result

Undebt-trapping Africa: EU sweeps in to remove Chinese influence from African nations

Abhyoday Sisodia by Abhyoday Sisodia
February 12, 2022
in Geopolitics
Reading Time: 3 mins read
0
EU
176
VIEWS
Share on FacebookShare on Twitter

The situation in Africa is a very interesting one. The people of the continent have understood very well that China has been running a neo-colonial agenda, and they have had enough of it. Realising these developments in Africa, France has found a window of opportunity to not only remove China from the region for good but also increase its influence in the continent.

 Ursula von der Leyen, the European Union’s (EU) chief, announced plans on Thursday to attract more than €150 billion ($172 billion) in investment for Africa, proclaiming Europe to be the continent’s “largest” and “most reliable” partner. As per reports, Von der Leyen, who is president of the powerful executive European Commission, arrived on Wednesday to prepare for a summit between the EU and the African Union (AU) on 17-18 February.

Also Read

Bolivia: Electrifying Latin America

Strange! Zelensky has never challenged Russia’s best friend China

 France-led European Union bets big on Africa

 The scheme is the first regional plan under the European Union’s Global Gateway initiative, which aims to raise up to €300 billion ($345 billion) for public and private infrastructure around the world by 2027. The policy, which is seen as a counter to China’s Belt and Road programme, will boost private-sector investment with money from EU institutions and member countries.

 Von der Leyen told reporters at a press conference in Dakar, Senegal’s capital, that she was “proud” to reveal plans for Africa, where the goal was to attract at least €150 billion in investment. She was tight-lipped about how the monies would be raised and used. Global Gateway is rooted in “the values to which Europe and Africa are committed, such as transparency, sustainability, good governance and concern for the well-being of the people,” von der Leyen said.

 Before arriving in Senegal, von der Leyen told AFP that foreign investment in Africa was sometimes accompanied by “hidden costs.” Other significant investors in Africa, such as China, are frequently accused by critics of being less strict on environmental preservation and human rights. China has been accused of enticing African countries into debt traps by giving massive, expensive loans. Beijing denies the charge, claiming that its loans are intended to help poor people.

 China’s falling fortunes in Africa

 The Chinese Communist Party under the leadership of Xi Jinping has undone many of the economic successes his predecessors had achieved. And now with the economic situation in tatters and the exodus of companies out of the mainland, China is facing a significant cash crunch and has almost no liquidity to provide cushion to its failing businesses. And in a situation where the country is failing to finance its own companies, China has begun abandoning its promises in Africa as well. For the first time in over a decade, China’s financial commitment to Africa shrank, as the world’s second-largest economy sought to avoid criticism for saddling developing countries with unsustainable debt.

 Read more: Helpless and Penniless China begins abandoning Africa

 As reported by Bloomberg, President Xi Jinping offered $40 billion to the continent. That marked a 33 per cent drop from the $60 billion committed at the same summit in 2018 when China only matched the previous event’s pledge. Before that, China had doubled its financial commitment to the continent every three years since 2006 at the two-day forum, which is Beijing’s main vehicle for managing its relationship with the continent.

 France led European Union has decided to un-debt-trap the African continent. In the process, France wants to rebrand itself as a world power that prioritises the growth of Africa, not filling its own coffers, which Europe did during its colonial history.

Tags: AfricaChinaExhaustive ReadsFranceGlobal Gateway IniativeXi Jinping
ShareTweetSend
Previous Post

The White House’s new Indo-Pacific strategy is all about keeping Xi Jinping in power

Next Post

World War 3: Biden pits Qatar against the Middle East and Algeria against Morocco

Also Read

President Museveni’s anti-West stance: Uganda defies international pressure to scrap Anti-LGBTQ bill

President Museveni’s anti-West stance: Uganda defies international pressure to scrap Anti-LGBTQ bill

March 24, 2023
Ethiopia and Eritrea to US: ‘Mind Your Own Business

Ethiopia and Eritrea to US: ‘Mind Your Own Business

March 24, 2023
DRC elections

Western powers hold Africa’s elections hostage

March 23, 2023
Ukraine China

Strange! Zelensky has never challenged Russia’s best friend China

March 23, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Trending
  • Comments
  • Latest
Africa kicks dollar to the curb

Africa kicks dollar to the curb

March 14, 2023
The mysterious death of Shermans has Justin Trudeau written all over it

The mysterious death of Shermans has Justin Trudeau written all over it

March 14, 2023
A ‘unified’ Romania is about to take down NATO!

A ‘unified’ Romania is about to take down NATO!

March 18, 2023
Justin Trudeau killed Michel Trudeau for Sophie

Justin Trudeau killed Michel Trudeau for Sophie

March 22, 2023
Did Ukraine use innocent civilians as human shield against Russia in the name of evacuation?

Did Ukraine use innocent civilians as human shield against Russia in the name of evacuation?

May 9, 2022
President Museveni’s anti-West stance: Uganda defies international pressure to scrap Anti-LGBTQ bill

President Museveni’s anti-West stance: Uganda defies international pressure to scrap Anti-LGBTQ bill

March 24, 2023
Health Canada Halts Alberta’s Medication Miracle

Health Canada Halts Alberta’s Medication Miracle

March 24, 2023
Bolivia: Electrifying Latin America

Bolivia: Electrifying Latin America

March 24, 2023
Ethiopia and Eritrea to US: ‘Mind Your Own Business

Ethiopia and Eritrea to US: ‘Mind Your Own Business

March 24, 2023
Fishing for Justice: First Nations Take on the Feds

Fishing for Justice: First Nations Take on the Feds

March 23, 2023
Youtube Twitter Facebook
TFIGlobal
  • About us
  • Contact Us
  • Terms of use
  • Privacy Policy

©2023 - TFI MEDIA PRIVATE LIMITED

No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

©2023 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Follow us on Twitter

and never miss an insightful take by the TFIGlobal team

Follow @tfiglobal
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.