At the rate we are currently going as regards our increasing indebtedness to China, it is only a matter of time before Africa will be completely indebted to China and become Chinese property.
The body language of African leaders and many Africans, however, shows that we are not worried about this increasing indebtedness; we should!
We should be worried about Africa’s indebtedness to China considering the country’s precedence, motives, and personal ambitions.
It is no news that China wants to become a leading world power and continues to battle with Russia, America, and Britain for this supremacy. There is no doubt that Africa is an important factor in this battle of supremacy and any one of the aforementioned who has the resources, wealth, land and manpower of the African continent on its side has a huge claim to the revered seat.
China is winning the hearts of African leaders fast and its influence is spreading like wildfire, and this should be a cause for worry.
While I totally agree that it is completely wrong to paint China as the worst compared to Europe, America, and Russia; it is our indebtedness to the Asian giants and the shrewd way in which we are lured to incur these huge debts that continue to be a sign of worry.
There is a difference between being indebted to the World Bank or International Monetary Fund (IMF) than to a country like China.
This is because of the way in which these loans are structured. China approves billion of US dollars to African leaders without requesting plans for implementation and spending.
They even go as far as giving these monies when these African leaders do not ask for it, meaning that these funds are more of bribes to buy over African governments in exchange for dominance and influence in key sectors of the African continent.
All of this is done without consideration of the people!
The presence and dominance of the Chinese in virtually every key sector of the African economy are threatening. There must be a reason why China is doing all it can to discourage African leaders to consider it an ally and consider its ‘grants’ rather than loans from the World Bank and IMF.
Although the World Bank and IMF have their own issues, they do a lot in questioning African governments on increasing indebtedness and are somewhat transparent with their bookkeeping and figures.
On the other hand, China deals with African leaders in the dark. They approve and disburse loans without announcing the terms of the loans, conditions involved and/or the agreements reached. All you see is that their presence and dominance in the country is increasing – which is not a good sign and should raise a lot of questions.
Most surprising is that they are always saying African governments should not worry about these loans! Why shouldn’t we worry that our future is being sold and day by day, we edge closer to becoming Chinese property?
Apart from the fact that we are selling ourselves into another form of colonialism; if God forbid, China is involved in a war tomorrow, won’t they demand Africa to commit its army and territory? Won’t they use our indebtedness to them as leverage to make us do their bidding at our own detriment?
We should be worried about Africa’s indebtedness to China.
What are your thoughts?
Header Image Credit: DW