The Myth of the Chinese Debt Trap in Africa

"Whenever China visits your country, a new hospital is built. Whenever a western country visits Africa, you get a lecture." - Kenyan diplomat.

The west: "It's 100% a debt trap, we've done it thousands of times"

What is a "debt trap?" In the 1980s, Nigeria in Africa borrowed interest at 31% from the International Monetary Fund, while the West took minerals from Nigeria without leaving any infrastructure behind. However, they gradually controlled Nigeria's entire mineral resources and still owed debts that the International Monetary Fund could not repay.

I am serbian . I have lived in african countries as a child because my father works in embassy. One thing I can tell you before chinese investments no one cared about africa they just looted resources the western countries especially France looted much from north and west Africa.a Things like gold,diamond and other natural resources like lithium with help of corrupted african political. As I remember living in africa there were no malls,big shopping complexes,proper infrastructure and connectivity like trains,bus in cities but slowly after chinese investments Things changed fastly internet was introduced in large scale by chinese companies which helped other locals also get internet,malls were built ,brands came in africa many trains and ports projects were introduced all across africa and many more industrial and commercial services increased. I Have learned about chinese debt trap policy but it is far better than western countries one sided trades which always destroyed and looted africa.

Most home owners in United States are in debt trap by this definition.

Europeans can't believe that China would deal honestly with Africa. The concept is unimaginable to Europe.

One important information Bloomberg purposely left out is the majority of Africa's external debts are sovereign USD bonds that mostly bought by London and NY based asset managers and hedge funds. The default of these USD bonds have thrown dozens of countries into chaos and shut out from international financing for years. While China never called any nation's default and always just extending the maturity of debts to kick the can down the road

Debt traps are mortgages, student loans, credit card...

So everyone complained it was too risky to invest in Africa but when someone finally invests Africa they call it debt trap? Africa needed the infrastructure to modernize, it's a deal made willingly. Don't criticize if you're not going to help.

As African, the changes we have in the last years of China collaboration in term of developement have never been seen with centuries of ties with the West

I have friends in Kenya, Ethiopia & Senegal. Chinese investment there has bought tangible results that many of them never saw in all the years they've been living there. Roads are expanding, trains are becoming more accessible, and jobs are opening up in port industry & infrastructure. The Europeans were doing this for decades without tangible results. How exactly did the Chinese manage to bring huge changes in just the last 10 years? (Rhetorical question, we all know this "debt trap" is little more then propaganda)

“We don’t do charity, we do business” and that’s that Africa wants 👏

China came to Africa to discuss investment, the United States came to Africa to discuss China

The fact that Chinese investment managed to finally force the West to actually really invest in Africa as countries of sovereign dignity, rather than see them only as beggars for ‘aid’, is in itself, alone, a significant benefit to Africa and other developing regions. After all, had China not done it, who knows how many more decades and centuries it would take.

I live in Morocco, north of Africa, the Chinese companies are well known here with their high level of quality projects with advantageous prices. Unlike their European counterpart. And for the US companies they're close to non-existing other than their military bases. So that label of debt trap was originally created by the west because they were losing the African market to China.

Another important observation is China doesn’t just invest in mega projects, it’s private citizens are willing to move to Africa and open businesses themselves, ranging from small restaurants, to manufacturing of all kinds of products. This hires Africans from all stratum of society. Western investments only benefit the large US corporations.

A bank lend you money to buy a house, if you can't pay, the bank take it away.... "it's a debt trap" says no one ever in US, especially during 2008.

as a kid i couldnt understand why we (the west) keep sending medical aid and food to africa instead of building infrastructure and education. i didnt know about geopolitics and endless corporate greed back then. slowly even i understood that it wasnt about really helping the people there....

The World Bank may have shareholders, but its head is chosen by the US, and not the shareholders. The 'World Bank' is essentially owned, and controlled by the USA; the 'shareholders' are just a deceptive facade.

A Western corporate media describing China posivitely. What the heck happened?