Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
EU attempts to revive ACP and Cotonou Agreements have floundered over the past year, through no fault of EU commitment to prevent migration and invest in AFRICOM.
"It is a total mess because the African countries do not agree among themselves on the need of the ACP group," underscores Jean Bossuyt.
No sooner had Madames May and Merkel glided home on hastily mended bi-lateral FTAs with favored nations (Nigeria, Kenya, South Africa, Senegal) then the lot of them took off for the third Forum for Africa-China Cooperation (FOCAC). Six nations (Tanzania, Burundi, DRC, Eritrea, Algeria, eSwatini) did not send envoys. This FOCAC closely follows the 10th BRIC summit in July in an agitated setting of anti-global finance and neo-colonial polemic. It is not immediately obvious that activists know who holds the notes of mortgaged govs. Or who has USD to burn: China's Xi offers $60 bn Africa aid, says 'no strings attached'
Later, at the start of the Forum on China-Africa Cooperation (FOCAC), Xi announced $60 billion in funds for eight initiatives over the next three years, in areas ranging from industrial promotion, infrastructure construction and scholarships for young Africans.

He added that Africa's least developed, heavily indebted and poor countries will be exempt from debt they have incurred in the form of interest-free Chinese loans due to mature by the end of 2018.

AFP reports common cynicism regarding charity or "affirmative action" claims.
A study by the Center for Global Development, a US think-tank, found "serious concerns" about the sustainability of sovereign debt in eight Asian, European and African countries receiving Belt and Road funds.

But South African President Cyril Ramaphosa defended China's involvement on the continent, saying FOCAC "refutes the view that a new colonialism is taking hold in Africa as our detractors would have us believe."

During a visit to China last month, Malaysian prime minister Mahathir Mohamed warned against "a new version of colonialism", as he cancelled a series of Chinese-backed infrastructure projects worth $22 billion.

Djibouti has become heavily dependent on Chinese financing after China opened its first overseas military base in the Horn of Africa country last year, a powerful signal of the continent's strategic importance to Beijing.

Diversity is the key to economic and political evolution.
by Cat on Mon Sep 3rd, 2018 at 06:00:01 PM EST
[ Parent ]
Xi meets press as FOCAC Beijing Summit concludes
a tall order

Diversity is the key to economic and political evolution.
by Cat on Thu Sep 6th, 2018 at 05:47:33 PM EST
[ Parent ]

PHOTO OP:People hold Chinese and Djiboutian national flags as they wait for Djibouti's President before the opening of a 1,000-unit housing construction project in Djibouti on July 4, 2018. The project was financially supported by a Chinese company. Photo: AFP/Yasuyoshi Chiba

Diversity is the key to economic and political evolution.
by Cat on Fri Sep 7th, 2018 at 09:34:43 PM EST
[ Parent ]
the United States having

"serious concerns" about the sustainability of sovereign debt

is definitely worth a hearty laugh.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Fri Sep 14th, 2018 at 04:47:08 PM EST
[ Parent ]


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