True Left

See this important information below about the truth on the Chinese's economic cooperation to the African people. Even the Western media admit that the Chinese not trapped the nation client with so-called "debt-trap", or economic oppression :

Source : The Myth of the Chinese Debt Trap in Africa - Bloomberg Quicktake: Originals (18 March 2022)

"...But while the U.S. has focused its Africa strategy on aid and social services, China as been building.

...

African governments themselves said, "We are tired of aid and charity, we want to do trade, we want to be treated like partners." The Chinese came along and said, "Great." "We don't do aid and charity, we wanna do business with you." - Eric Olander, Editor in Chief, The China Africa Project 

(Minute 01 : 24 until 01 : 43)

Now the U.S. and Europe are answering back with their own infrastructure initiatives to counter China, but African experts are skeptical.

(Minute 01 : 49 until 01 : 56)

...

The Chinese said, "Well, guess what? We are the best in the world now at producing large scale infrastructure, fast and cheap. And we have a surplu of capital, so we'll loan you the money, we have our great contracting companies. We have all of this skill and all this ability to deliver fast and cheap." And in that sense, it was really an ideal match. They recognize what Africa's development was. And they said, "You know what? 30 years ago, that was us. We recognize a lot of what's going on here. You don't have enough infrastructure, you have a large population that's growing quickly." Also let's not underestimate there is a shared history here of anti-colonial struggle. So you tick all of those different boxes, and Africa made a lot of sense for the Chinese to come in." - Eric Olander, Editor in Chief, The China Africa Project

(Minute 04 : 16 until 05 : 03)

...

But there are noticeable differences between Chinese financing and how the West lends historically with low interest rates and flexible terms.

...

If you're comparing commercial loans to something available from the World Bank or one of its different agencies, then you're not really comparing like for like ... 95%, if not 99%, the loan agreement are there in favor of the lenders, no matter who you deal with. This is because by the time you sign that loan agreement and you get the money, you'll have the money in your hands and the only thing the bank will have is a piece of paper. That is why the loan agreements are in their favor.

(Minute 05 : 34 until 07 : 05)