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The Chinese Playbook: Infrastructural Revolution Gives Way to New Global Power
[journal article]
Abstract At this moment, every child born in Angola owes money to the Chinese government. Angola, Africa’s second-largest oil exporter owes more than $20 billion to a number of Chinese entities as listed debt. But Angolans aren’t the only ones reeling under a foreign debt, they share this crisis with many of... view more
At this moment, every child born in Angola owes money to the Chinese government. Angola, Africa’s second-largest oil exporter owes more than $20 billion to a number of Chinese entities as listed debt. But Angolans aren’t the only ones reeling under a foreign debt, they share this crisis with many of their African comrades. Quite simply, Beijing, as we are told, coaxes underdeveloped nations into taking loan after loan to build infrastructure that they simply cannot afford otherwise, and will almost certainly not yield any proportionate economic benefits from. At the end of this dysfunctional cycle, the ultimate objective is for China to take control of these assets. This concept has been defined as ’debt-trap-diplomacy’, an overly hackneyed term introduced in 2017 and quickly oversold by the Western world, especially in the context of the much-touted Belt and Road Initiative (BRI).... view less
Classification
International Relations, International Politics, Foreign Affairs, Development Policy
Free Keywords
China; Africa; Belt Road Initiative
Document language
English
Publication Year
2022
Page/Pages
p. 1-5
Journal
IndraStra Global (2022)
ISSN
2381-3652
Status
Published Version; peer reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0