HOW CHINA EXPENSIVE BET ON AFRICA HAS FAILED

As the novel pandemic keeps spreading, China’s commercial activities in Africa has seriously been affected.

The prospects for China-funded projects look bleak as the prices of oil, copper and minerals found in Africa have plunged in the global economic meltdown. China is now facing growing pressure to forgive the tens of billions of dollars of loans it has made to African countries since the early 2000s.

The plan to lure African nation into a so-called debt trap has come at the worst possible time. With the corona virus outbreak now in Africa, Beijing must realize that it is unlikely to recover most of its sunken investments or loans because of the economic impact of the virus on Africa and should look for an exist strategy.

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