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What does China's investment in Africa mean for Europe? (Friends of Europe)
November 14, 2019
From the article:
China’s growing and deepening engagement in Africa has been widely reported. Between 2000 and 2017, China extended €130bn in loans to African governments and their state-owned enterprises, predominantly on commercial terms. According to the China-Africa Research Initiative (CARI), it is now the largest bilateral creditor in the region, accounting for 20% of Africa’s external public debt. And while China’s foreign direct investment (FDI) stock in Africa remains low compared to that of European countries – accounting for just 5% of the total – it is beginning to catch up. Between 2016 and 2018, its total FDI outflows to African countries were 12% greater than the combined figure for the European Union (EU).