[🇨🇳] China----News & Views

[Saif]

China, Russia to counter extra-regional forces in SE Asia

China and Russia’s foreign ministers met their Southeast Asian counterparts Friday after vowing to counter ‘extra-regional forces’, a day before Washington’s top...

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China, Russia to counter extra-regional forces in SE Asia
Agence France-Presse . Vientiane 27 July, 2024, 01:35

China and Russia's foreign ministers met their Southeast Asian counterparts Friday after vowing to counter 'extra-regional forces', a day before Washington's top diplomat was due to arrive.

Wang Yi and Sergei Lavrov were attending a three-day meeting of the 10-member Association of Southeast Asian Nations bloc in the Laos capital Vientiane.

Both held talks with counterparts from the bloc, while Wang also met with new British foreign secretary David Lammy.

On Thursday Wang and Lavrov agreed to work together in 'countering any attempts by extra-regional forces to interfere in Southeast Asian affairs', according to Moscow's foreign ministry.

They also discussed implementing 'a new security architecture' in Eurasia, Lavrov said in a statement, without elaborating.

According to a readout from Chinese state news agency Xinhua, Wang said Beijing was 'ready to work with Russia to... firmly support each other, safeguard each other's core interests'.

China is a close political and economic ally of Russia, and NATO members have branded Beijing a 'decisive enabler' of Moscow's war in Ukraine.

US Secretary of State Antony Blinken is expected to arrive in Vientiane on Saturday morning for talks with ASEAN foreign ministers.

Blinken has made Washington's alliances in Asia a top foreign policy priority, with the aim of 'advancing a free and open' Indo-Pacific — a veiled way of criticising China and its ambitions.

But Blinken shortened his Asia itinerary by a day to be present for Thursday's White House meeting between Biden and Israeli Prime Minister Benjamin Netanyahu.

Wang and Blinken will meet in Laos, a spokeswoman for Beijing's foreign ministry said, to 'exchange views on issues of common concern'.

On Friday Wang met ASEAN foreign ministers and hailed Beijing's deepening economic ties with the region.

For the customary joint handshake, Wang stood next to Myanmar's representative Aung Kyaw Moe, permanent secretary to the foreign affairs ministry.

The ASEAN bloc has banned Myanmar's junta from high-level meetings over its 2021 coup and crackdown on dissent that have plunged the country into turmoil.

Lavrov also met ASEAN counterparts at the venue in Vientiane but did not take questions from journalists

ASEAN ministers are expected to issue a joint communique after the three-day meeting.

One diplomatic source said the joint communique is being held up by lack of consensus over the wording of the paragraphs on the Myanmar conflict and disputes in the South China Sea.

Beijing claims the waterway — through which trillions of dollars of trade passes annually — almost in its entirety despite an international court ruling that its assertion has no legal basis.​

 

[Saif]

Myanmar airstrikes on border hospital near China kill 10

Myanmar military airstrikes hit a hospital in a city controlled by an ethnic minority armed group close to the China border killing 10 people, local media...

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Myanmar airstrikes on border hospital near China kill 10
Agence France-Presse . Bangkok 03 August, 2024, 01:21

Myanmar military airstrikes hit a hospital in a city controlled by an ethnic minority armed group close to the China border killing 10 people, local media reported on Friday.

Military planes carried out at least two air strikes on Laukkai city, normally home to some 25,000 people, late on Thursday night, a resident told AFP, requesting anonymity for security reasons.

Local media quoted one resident as saying 10 civilians were killed in the strike.

Myanmar's northern Shan state has been rocked by fighting since late June when an alliance of ethnic minority armed groups renewed an offensive against the military along a major trade highway to China.

The Myanmar National Democratic Alliance Army (MNDAA) group have held Laukkai since January after more than 2,000 junta troops surrendered there in one of the military's biggest defeats in decades.

MNDAA spokesman Li Jiawen told AFP a military airstrike had hit a hospital in Laukkai, but he had no information yet on casualties.

The junta has been approached for comment.

The junta has bombed Laukkai several times in recent weeks after the MNDAA renewed its offensive in northern Shan state, shredding a Beijing-brokered ceasefire.

Pictures taken on Thursday and shared with AFP by the Laukkai resident showed deserted streets.

In recent days MNDAA fighters have entered the town of Lashio, also in northern Shan state and home to the military's northeastern command.

Fighting was ongoing in Lashio on Friday, a military source told AFP, requesting anonymity to talk to the media.

Local media, citing a local resident, reported that MNDAA fighters had entered a military hospital in Lashio and killed an unspecified number of patients and medical staff.

AFP was unable to reach people on the ground in Lashio or confirm the report.

Dozens of civilians have been killed or wounded in the recent fighting in Shan state according to the junta and local rescue groups.

Neither the junta nor the ethnic alliance have released figures on their own casualties.

Myanmar's borderlands are home to myriad ethnic armed groups who have battled the military since independence from Britain in 1948 for autonomy and control of lucrative resources.

Some have given shelter and training to newer "People's Defence Forces" (PDFs) that have sprung up to battle the military after the coup in 2021.

China is a major ally and arms supplier to the junta, but analysts say it also maintains ties with armed ethnic groups in Myanmar that hold territory near its border.​

 

[Saif]

China’s stuttering recovery darkens global corporate growth outlook

Global burger chains to car manufacturers are increasingly feeling the pinch from a faltering recovery in the world’s No. 2 economy, China, and are strapping in for a bumpy ride ahead.

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China's stuttering recovery darkens global corporate growth outlook

A woman leaves a cafe of Starbucks Coffee in Beijing, China. Coffee chain Starbucks, carmaker General Motors and technology firms hurt by curbs on exports to China are among those that have sounded the alarm on weakness in the nation. Photo: REUTERS/FILE

Global burger chains to car manufacturers are increasingly feeling the pinch from a faltering recovery in the world's No. 2 economy, China, and are strapping in for a bumpy ride ahead.

A protracted downturn in the property market and high levels of job insecurity have knocked the wind out of a fragile recovery in China, a global trading powerhouse, and the effects of its slowdown can be felt across borders.

Coffee chain Starbucks, carmaker General Motors and technology firms hurt by curbs on exports to China are among those that have sounded the alarm on weakness in the nation. The Chinese government's stimulus measures have so far failed to boost consumption, and the overleveraged property market has made consumers less likely to spend.

"It's a difficult market right now. And frankly, it's unsustainable, because the amount of companies losing money there cannot continue indefinitely," General Motors CEO Mary Barra said last week as the automaker's division in China shifted from being a profit engine to a drain on its finances.

China's $18.6 trillion economy grew more slowly than expected in the second quarter, and cautious households are building up savings and paying off debts. Retail sales growth sank to an 18-month low in June, and businesses cut prices on everything from cars to food to clothes.

In a bid to stem the rot, China outlined stimulus directed at consumers last month to support equipment upgrades and consumer goods trade-ins, but that has not allayed concerns.

US stocks plummeted for second straight session on Friday, and the Nasdaq confirmed it was in correction territory, after a soft jobs report stoked fears of an oncoming recession.

Some analysts have warned that barring a structural shift that gives consumers a greater role in the economy, the current path fuels risks of a prolonged period of near-stagnation and persistent deflation threats.

"There is a deep concern that Beijing is not introducing the kind of stimulus that helps broaden the economic base," said Quincy Krosby, chief global strategist for LPL Financial.

"It's becoming more difficult for US companies to look to the Chinese market as a reliable partner."

China remained a drag on Apple last quarter. The iPhone maker's sales declined a much steeper-than-expected 6.5 percent in the country, which accounts for a fifth of its total revenue.

French cosmetics giant L'Oreal said the Chinese beauty market will remain slightly negative into the second half of 2024 with no visible improvement in sentiment.

Other consumer companies' sales have been hurt as well, including Starbucks , McDonald's and Procter & Gamble, while soft domestic travel demand prompted a revenue warning from Marriott.

The sluggish growth was also evident in underwhelming results from luxury goods makers LVMH and Gucci-owner Kering and profit warnings from Burberry and Hugo Boss.

"The world was surprised at how weak China was economically as this year unfolded," said Marc Casper, CEO of medical equipment maker Thermo Fisher.

Meanwhile, foreign automakers from Tesla to BMW, Audi and Mercedes, are locked in an intense price war in China after ceding market share to domestic EV makers, led by BYD, who offer high-tech, low-cost models.

To be sure, the MSCI World with China Exposure Index , which tracks 52 companies with high revenue exposure to China, is up 11.6 percent this year, not far off a 12 percent rise in MSCI's broad gauge of global stocks.

However, most of the China-focused index's performance is thanks to a surge in semiconductor stocks, including Broadcom and Qualcomm, which have benefited from AI-driven demand.

Mounting Sino-US trade tensions and certain domestic policies have added to multinational companies' woes.

Beijing's anti-corruption campaign that began last year has caused disruptions that partly prompted GE HealthCare to lower its revenue growth forecast and sparked concerns over sales of Merck's Gardasil vaccine.

Meanwhile, tighter US export curbs on sharing high-end chip technology with China are impeding chipmakers from serving one of the largest markets for semiconductors.

Qualcomm said it took a revenue hit from the US curbs on exports to China, overshadowing its otherwise upbeat forecast on Wednesday.

Analysts said the pressures are unlikely to ease soon.

"It has been a surprise that (the slowdown) has lasted so long," said Stuart Cole, chief macroeconomist at Equiti Capital.

"Once the Covid restrictions were lifted the general expectation was that China would bounce back. But the Chinese pace of expansion we saw previously will not be seen any time soon."​

 

[Saif]

China issues plan to boost household consumption

China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth in the world’s second-largest economy, with the plan targeting sectors including child and elder care, and food and beverage...

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China issues plan to boost household consumption
Agence France-Presse . Beijing 04 August, 2024, 22:21

A woman buys food at a stall at the Dacheng Road Night Market in Wuhan in central China's Hubei province on August 1. | AFP photo

China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth in the world's second-largest economy, with the plan targeting sectors including child and elder care, and food and beverage.

Leaders including president Xi Jinping pledged last month to help boost domestic consumption and ease pressure on China's ailing property sector, following a gathering of the ruling Communist Party's top brass.

The State Council, China's cabinet, published a list of 20 general directives on its website on Saturday evening, constituting a general roadmap for ministries and local authorities as the economy recovers after the lifting of strict pandemic measures at the end of 2022 that had hindered growth.

The plan, which does not include proposed budgets, urges authorities to 'increase the supply of care services for the elderly', a sector with growth potential in a country with an ageing population.

It also calls for the development of childcare services, as fewer young people opt to have babies due to the high cost of education and lack of social benefits.

Income tax reductions are also planned to offset the cost of caring for children under three and senior citizens, according to the document.

Beijing also pledged to ensure that eligible small businesses in the service sector can benefit from greater financial support, particularly from banks.

The plan calls for more food-themed festivals to be held, and for the promotion of street food 'snacks' — popular with locals — as well as pledges to encourage major foreign companies in the food and beverage industry to open their first outlets in China.

China is aiming for GDP growth of 'around 5 per cent' this year, but second-quarter growth slowed sharply to 4.7 per cent year-on-year, according to official figures published last month.

Its growth has been battered by a long-running debt crisis in the property market, which accounts for a quarter of gross domestic product.​

 

[Saif]

China youth unemployment jumped to 17.1% in July

Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this year as the world’s second-largest economy faces mounting headwinds.

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China youth unemployment jumped to 17.1% in July

People are seen attending a job fair in Beijing, China. Nearly 12 million students graduated from Chinese universities this June, heightening competition in an already tough job market. Photo: AFP/FILE

Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this year as the world's second-largest economy faces mounting headwinds.

China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West.

Chinese Premier Li Qiang, who is responsible for economic policy, on Friday called for struggling companies to be "heard" and "their difficulties truly addressed", according to the state news agency Xinhua.

The unemployment rate among 16- to 24-year-olds released Friday by the National Bureau of Statistics (NBS) was up markedly from June's 13.2 percent.

The closely watched metric peaked at 21.3 percent in June of 2023, before authorities suspended publication of the figures and later changed their methodology to exclude students.

Nearly 12 million students graduated from Chinese universities this June, heightening competition in an already tough job market and likely explaining July's sharp increase in joblessness.

In May, President Xi Jinping said countering youth unemployment must be regarded as a "top priority".

Among 25- to 29-year-olds, the unemployment rate stood at 6.5 percent for July, up from the previous month's 6.4 percent.

For the workforce as a whole, the unemployment rate was 5.2 percent.

However, the NBS figures paint an incomplete picture of China's overall employment situation, as they take only urban areas into account.

The new unemployment figures come on the heels of other disappointing economic data from Beijing, including figures showing dampened industrial production, despite recent government measures aimed at boosting growth.

Industrial production growth weakened in July, with the month's 5.1 percent expansion down from June's 5.3 percent and falling short of analyst predictions.

China's major cities also recorded another decline in real estate prices last month, a sign of sluggish demand.

Demand for bank loans also contracted for the first time in nearly 20 years, according to official figures published earlier this week.

International challenges are also mounting, with the European Union and the United States increasingly imposing trade barriers to protect their markets from low-cost Chinese products and perceived unfair competition.​

 

[Saif]

China targets dairy imports from EU in latest barb in trade row

Beijing on Wednesday launched a probe into EU subsidies of some dairy products imported into China, the day after the bloc said it planned to impose five-year import duties of up to 36 percent on Chinese electric vehicles (EVs).

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China targets dairy imports from EU in latest barb in trade row

A staff member arranges cartons of milk on refrigerator shelves at a supermarket in Beijing, China. The EU exported 1.68 billion euros ($1.87 billion) of dairy products to China last year. Photo: REUTERS/FILE

Beijing on Wednesday launched a probe into EU subsidies of some dairy products imported into China, the day after the bloc said it planned to impose five-year import duties of up to 36 percent on Chinese electric vehicles (EVs).

The investigation, which marks the latest barb in a trade standoff between the two, will cover a range of items including fresh cheese and curd, blue cheese, and some milk and cream, Beijing's commerce ministry said.

"The Ministry of Commerce has decided to initiate an anti-subsidy investigation on imported relevant dairy products originating in the European Union from August 21, 2024," the ministry said in a statement on its website.

Officials said they had received an application from the Dairy Association of China for an anti-subsidy probe into European products on July 29, and held consultations with the European Union on August 14.

Beijing said the investigation would cover EU subsidy schemes implemented in the year up to the end of March 2024, and damages to China's domestic industry between the start of 2020 and the end of March this year.

The probe takes aim at major pillars of the bloc's setup including the common agricultural policy as well as national subsidy plans in Ireland, Austria, Belgium, Italy, Croatia, Finland, Romania and the Czech Republic. It will last one year but may be extended for up to six months "under special circumstances", the ministry said.

The EU exported 1.68 billion euros ($1.87 billion) of dairy products to China last year, according to figures from the European Commission's Directorate-General for Agriculture and Rural Development, which cited Eurostat.

The EU Chamber of Commerce in China said the investigation "should not be considered a surprise" in the wake of the bloc's own imposition of import tariffs on Chinese EVs.

"Regrettably, the use of trade defense instruments by one government is increasingly being responded to seemingly in kind by the recipient government," the chamber said in a statement.

It said it "will be monitoring the ongoing investigation and hopes that it will be conducted fairly and transparently", adding that it expected its affected member firms to cooperate.

The news comes a day after the European Commission said it planned to impose five-year import duties on Chinese EVs, unless Beijing can offer an alternative solution to a damaging trade row over state subsidies.

Brussels last month hit EVs imported from China with hefty provisional tariffs -- on top of current duties of 10 percent -- after an anti-subsidy probe found they were unfairly undermining European rivals.

China said this month it had filed an appeal with the World Trade Organization (WTO) over the tariffs, saying the EU's decision "lacks a factual and legal basis".

Its foreign ministry has kept up a steady drumbeat of opposition to the measures, on Wednesday slamming them as a "typical protectionist and politically driven act".

"It ignores objective facts, disregards (WTO) rules, goes against the historical trend, (and) damages the EU's green transformation process and global efforts to address climate change," foreign ministry spokeswoman Mao Ning said.

She added that the EU "will only harm itself" with the imposition of tariffs.

Brussels has sought to tread carefully as it tries to defend Europe's crucial auto industry and pivot towards green growth while averting a showdown with Beijing.

But it has launched further investigations into Chinese subsidies for a range of transport and green energy firms.

Beijing, for its part, has begun its own probes into imported European brandy and pork.​

 

[Saif]

A new era in China-Africa cooperation

AS THE 2024 Summit of the Forum on China-Africa Cooperation approaches, the stage is set for a new chapter in Sino-African relations. From September 4 to 6, Beijing will host this pivotal gathering, where strategic partnerships between China and Africa are expected to deepen significantly. For...

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A new era in China-Africa cooperation
Imran Khalid 01 September, 2024, 00:00

A motorist rides past a sign of the Forum on China-Africa Cooperation, scheduled to be held in September 4-6, in Beijing on August 30. | Agence France-Presse/Adek Berry

AS THE 2024 Summit of the Forum on China-Africa Cooperation approaches, the stage is set for a new chapter in Sino-African relations. From September 4 to 6, Beijing will host this pivotal gathering, where strategic partnerships between China and Africa are expected to deepen significantly. For China, this summit is more than a diplomatic event. It is a commitment to fostering long-term relationships that promote shared prosperity and address global challenges.

Observers across the African continent view this summit as a crucial opportunity to tackle significant issues, particularly the continent’s infrastructure funding gap, estimated by the African Development Bank to range between $130 billion and $170 billion annually. As Africa’s largest trading partner, China sees this partnership as essential not only for mutual benefits but also for the broader goal of sustainable development.

The summit will likely prioritise cooperation in education, infrastructure, healthcare and technology where collaboration can drive growth and innovation. African nations are keenly awaiting concrete commitments and actionable plans that translate into real progress. The outcomes of this summit could well shape the trajectory of Sino-African relations for years to come.

The Forum on China-Africa Cooperation, established in Beijing in October 2000, marked a moment in the relationship between China and Africa. Over the years, the forum has evolved into the bedrock of a lasting partnership, celebrated for its emphasis on practical, results-driven collaboration. From China’s perspective, this framework is a testament to its commitment to Africa’s sustainable development, focusing on infrastructure, human resource development and governance exchanges.

China’s journey over the past seven decades, characterised by innovation and progressive reforms, has not gone unnoticed by Africa. This model has increasingly resonated with global south countries, which see in China’s experience a roadmap for their own development. For China, the forum is not just diplomacy. It is a strategic alliance that reflects a mutual aspiration for progress. By fostering innovation and tailoring development strategies to unique contexts, this partnership offers a vision for a more interconnected and prosperous future.

China’s growing confidence on the global stage is deeply intertwined with its foreign policy objectives, particularly in fostering stronger ties with the global south. At the heart of this effort is the Forum on China-Africa Cooperation, a platform designed to elevate the traditional bond between Africa and China into a comprehensive, mutually beneficial partnership. Since its establishment, the forum has been instrumental in transforming rhetoric into action, delivering tangible benefits that resonate across both regions.

Between 2000 and 2023, Chinese lenders extended 1,306 loans worth $182.28 billion to 49 African governments and seven regional borrowers. Notably, 2023 saw a resurgence in Chinese lending with 13 new commitments totalling $4.61 billion across eight countries and two regional financial institutions. This marks the first increase in annual loan amounts to Africa since 2016 although it remains significantly below the high-water mark of the early Belt and Road Initiative years, when annual commitments exceeded $10 billion.

As China recalibrates its financial engagement with Africa, this uptick reflects a cautious revival of its investment strategy, signalling a strategic adjustment amid evolving global economic conditions. This strategic approach not only cements China’s role as a pivotal player in global development but also paves the way for deeper cooperation in the future.

In his 2021 FOCAC address in Dakar, Chinese president Xi Jinping charted a bold new course for China-Africa relations, resonating deeply with African leaders and citizens alike. His speech unveiled an ambitious blueprint for future collaboration, signaling China’s unwavering commitment to strengthening ties between the two regions. The Dakar conference resulted in a robust economic cooperation plan, skillfully attuned to the evolving dynamics of the global economy.

At the heart of this initiative lies the ‘China and Africa Vision 2035’, a strategic framework designed to bolster bilateral cooperation across key sectors. This vision prioritises health, poverty alleviation, agriculture, trade, digital innovation, green development, capacity building, cultural exchanges and peace and security.

Since the Dakar summit, notable progress has been made in these areas, with continued momentum expected as the forum’s agenda advances in Beijing. The Vision 2035 plan not only underscores China’s dedication to a mutually beneficial partnership but also reflects a broader strategy to navigate global economic shifts while promoting sustainable development.

Since the launch of the Belt and Road Initiative in 2013, Africa has reaped substantial benefits, largely driven by the active participation of Chinese private enterprises. These companies have emerged as pivotal players in forging a China-Africa community with a shared future, injecting much-needed momentum into the continent’s development. China’s strategy centres on infrastructure development, capital infusion and deploying skilled labor to dismantle growth barriers for African nations.

The impact is undeniable. In the past decade, China has enabled the construction of more than 6,000 kilometres of railways, 6,000 kilometres of road and nearly 20 ports across Africa. Landmark projects such as Kenya’s Standard Gauge Railway and the Addis Ababa-Djibouti Railway have not only enhanced Africa’s economic potential but also significantly strengthened regional connectivity, positioning the continent for sustained growth in the years to come.

As African nations convene for the forthcoming summit, the trajectory of the China-Africa partnership warrants thoughtful reflection. The Forum on China-Africa Cooperation has long served as the cornerstone of this relationship, providing a critical platform for policy alignment and joint initiatives. Meeting every three years, the forum has consistently delivered on substantial financial commitments, highlighted by a $40 billion pledge at the 2021 summit, aimed at bolstering infrastructure, agriculture, and manufacturing across Africa. The forum’s effectiveness is undeniable, with $155 billion of the $191 billion in promised loans implemented between 2006 and 2021.

Yet, this year’s summit unfolds in a challenging global landscape, marked by rising resistance to China from a US-led coalition. At the same time, Chinese companies have significantly impacted Africa’s energy sector, installing over 25GW of generation capacity, which represents more than 15 per cent of sub-Saharan Africa’s total. These investments have bolstered the region’s power infrastructure. This performance underscores the complexity of integrating large-scale Chinese energy projects into diverse African markets, highlighting both the substantial contributions.

In China’s grand global strategy, Africa’s economic value is evident, but its geopolitical importance is rapidly increasing. As Beijing strengthens economic ties with the continent, it simultaneously secures vital support in international forums, enhancing China’s ability to influence global diplomacy and security. This backing is crucial as China aims to challenge and redefine a world order it views as biased.

The 2024 summit, themed ‘Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future’, is poised to deepen these connections. This approach aligns with China’s broader geopolitical ambitions, potentially ushering in a new era of cooperation. If executed effectively, FOCAC could foster a sustainable and mutually beneficial partnership, reinforcing China’s strategic positioning on the global stage.​

 

[Saif]

African leaders in Beijing eyeing big loans, investment

African leaders descend on China’s capital this week, seeking funds for big-ticket infrastructure projects as they eye mounting great power competition over resources and influence on the continent...

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African leaders in Beijing eyeing big loans, investment
Agence France-Presse . Beijing 01 September, 2024, 22:29

African leaders descend on China’s capital this week, seeking funds for big-ticket infrastructure projects as they eye mounting great power competition over resources and influence on the continent.

China has expanded ties with African nations in the past decade, furnishing them with billions in loans that have helped build infrastructure but also sometimes stoked controversy by saddling countries with huge debts.

China has sent hundreds of thousands of workers to Africa to build its megaprojects, while tapping the continent’s vast natural resources including copper, gold, lithium and rare earth minerals.

Beijing has said this week’s China-Africa forum will be its largest diplomatic event since the Covid pandemic, with leaders of South Africa, Nigeria, Kenya and other nations confirmed to attend and dozens of delegations expected.

African countries were ‘looking to tap the opportunities in China for growth’, Ovigwe Eguegu, a policy analyst at consultancy Development Reimagined, told AFP.

China, the world’s number two economy, is Africa’s largest trading partner, with bilateral trade hitting $167.8 billion in the first half of this year, according to Chinese state media.

Beijing’s loans to African nations last year were their highest in five years, research by the Chinese Loans to Africa Database found. Top borrowers were Angola, Ethiopia, Egypt, Nigeria and Kenya.

But analysts said an economic slowdown in China has made Beijing increasingly reluctant to shell out big sums.

China has also resisted offering debt relief, even as some African nations have struggled to repay their loans — in some cases being forced to slash spending on vital public services.

Since the last China-Africa forum six years ago, ‘the world experienced a lot of changes, including Covid, geopolitical tension and now these economic challenges’, Tang Xiaoyang of Beijing’s Tsinghua University told AFP.

The ‘old model’ of loans for ‘large infrastructure and very rapid industrialisation’ is simply no longer feasible, he said.

The continent is a key node in Beijing’s Belt and Road Initiative, a massive infrastructure project and central pillar of Xi Jinping’s bid to expand China’s clout overseas.

The BRI has channelled much-needed investment to African countries for projects like railways, ports and hydroelectric plants.

But critics charge Beijing with saddling nations with debt and funding infrastructure projects that damage the environment.

One controversial project in Kenya, a $5 billion railway — built with finance from Exim Bank of China — connects the capital Nairobi with the port city of Mombasa.

But a second phase meant to continue the line to Uganda never materialised, as both countries struggled to repay BRI debts.

Kenya’s president William Ruto last year asked China for a $1 billion loan and the restructuring of existing debt to complete other stalled BRI projects.

The country now owes China more than $8 billion.

Recent deadly protests in Kenya were triggered by the government’s need ‘to service its debt burden to international creditors, including China’, said Alex Vines, head of the Africa Programme at London’s Chatham House.

In light of such events, Vines and other analysts expect African leaders at this week’s forum to seek not only more Chinese investment but also more favourable loans.

In central Africa, Western and Chinese firms are racing to secure access to rare minerals.

The continent has rich deposits of manganese, cobalt, nickel and lithium — crucial for renewable energy technology.

The Moanda region of Gabon alone contains as much as a quarter of known global reserves of manganese, and South Africa accounts for 37 per cent of global output of the metal.

Cobalt mining is dominated by the Democratic Republic of Congo, which accounts for 70 per cent of the world total. But in terms of processing, China is the leader, at 50 per cent.

Mounting geopolitical tensions between the United States and China, which are clashing over everything from the status of self-ruled Taiwan to trade, also weigh on Africa.

Washington has warned against what it sees as Beijing’s malign influence.

In 2022, the White House said China sought to ‘advance its own narrow commercial and geopolitical interests (and) undermine transparency and openness’.

Beijing insists it does not want a new cold war with Washington but rather seeks ‘win-win’ cooperation, promoting development while profiting from boosted trade.

‘We do not just give aid, give them help,’ Tsinghua University’s Tang said.

‘We are just partners with you while you are developing. We are also benefiting from it.’

But analysts fear African nations could be forced to pick sides.

‘African countries lack leverage against China,’ Development Reimagined’s Eguegu said.

‘Some people... think you can use the US to balance China,’ he said. ‘You cannot.’​