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Top Stories About Wealth.

However, because of the nature of the policy, it becomes difficult to capture which portion of the financing is, or should be, categorized as aid. African governments welcome more and more Chinese loans, since most of them are concessionary loans. This has inevitably contributed to a debt problem in an increasing number of countries; the kind of debt which is an impossible burden for these economies. This inevitably increases Chinese leverage to make demands for her continued participation in these economies.

It has led to the influx of inexpensive Chinese products in the African market. Small Chinese traders have flocked to Africa, competing head-to-head with their African counterparts. And has resulted in growing antagonism with African market traders, who find it impossible to price their own products so competitively. African consumers, on the other hand, are grateful for the competition because it gives them not only more, but also cheaper options. They also appreciate the visible progress “Chinese money” has enabled in the past years, particularly with the development of infrastructure like roads, and health facilities. Perhaps these factors that improve the quality of life of many African lives, drown out the seemingly endless media coverage and social media discussion about Chinese debt traps, imported labour, substandard Chinese products, neo-colonialism, counterfeit goods and so on. Because, in spite of this dissent, positive public perception remains surprisingly durable, with positive views of the Chinese edging higher in most African countries.

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