China-Africa Economic and Trade Expo Aims to Defy Western ‘Debt Trap’ Accusations, Generating $19 Billion in Trade Deals

According to a study from the 3rd yearly China-Africa Economic and Trade Expo, Africa and China are continuing to fortify their semipermanent commercialized ties. China wants to beryllium 1 of Africa’s largest trading partners, and reports revealed connected Friday that this year’s expo is expected to make $19 cardinal successful deals.

Annual Trade Event Between Africa and China Highlights ‘Western Smears’ and Multi-Billion-Dollar Trade Deals

After 2010, commercialized betwixt Africa and China accrued a large woody and successful 2011, commercialized betwixt Africa and China accrued by 33% from the erstwhile twelvemonth to $166 billion. The pursuing year, commercialized accrued further by implicit 22% year-over-year. China and Africa person importantly increased their commercialized successful 2023 done a assortment of initiatives and investments. Reports further bespeak that China aims to surpass the European Union arsenic Africa’s largest trading spouse by 2030.

Trade betwixt China and Africa grew by 9% year-on-year to scope $94.4 cardinal successful the archetypal 4 months of 2023, according to statistics. This week, starring members from African governments and the continent’s backstage assemblage person convened for the 3rd yearly China-Africa Economic and Trade Expo held successful Changsha, Hunan Province, China. The yearly lawsuit is simply a level for China and African countries to beforehand economical and commercialized cooperation. This year’s Expo is themed “Common Development for a Shared Future.”

Regional reports bespeak that this year’s expo is expected to make $19 cardinal successful deals. According to Chinese media, galore African officials and concern representatives person rejected Western accusations of a “debt trap” successful China-Africa cooperation, and person expressed their tendency for person ties with China. Anna A Wapalila, CEO of Herbanna General Supply Co successful Tanzania, was quoted successful the Chinese media study arsenic saying, “China is the biggest market. If you tin get immoderate products to China, it means that you [don’t request to] look for immoderate different countries successful the world.”

James Kimonyo, the Rwandan Ambassador to China, besides spoke astir the United States claiming China is mounting Africa up to autumn into a indebtedness trap. “In immoderate economical structure, you look astatine the pillars and the projects that are going to enactment your growth,” Kimonyo said. “Once you person identified them, past you look for the resources to instrumentality them. And past successful the process of looking for the resources, past you prosecute the partners. China happens to beryllium a spouse that is precise unfastened successful presumption of what we sermon successful presumption of the financing of projects.” Kimonyo added:

I deliberation that communicative is wrong. China is not putting Africa successful a indebtedness trap.

The People’s Daily explained that determination was a batch of speech astir the “Western smear” and statements against the alleged Western countries’ effort to “decouple” Africa from China. China is present the 4th largest capitalist successful Africa, and its investments successful African countries person exceeded $30 cardinal successful the past 10 years. “There is nary constituent successful complaining erstwhile you get wealth from China arsenic agelong arsenic the wealth is invested successful the projects that are going to marque a quality successful the lives of each people,” Kimonyo added.

What are your thoughts connected China’s efforts to fortify commercialized ties with Africa and the alleged Western accusations of a ‘debt trap’? Share your thoughts and opinions astir this taxable successful the comments conception below.