As China prepares to host Africa on business and investments, it has downplayed confrontation that overseas investment is saddling developing countries with unsustainable levels of debt
China’s ministry of commerce instead explained that that mounting debt was already commonplace before incursion of China into the continent.
The explanation is coming as Beijing prepares to host a major gathering of African leaders to discuss development priorities for the next few years.
About 40 presidents and thousands of business leaders will congregate in the Chinese capital for the triennial Forum on China-Africa Cooperation (FOCAC) on Monday and Tuesday next week, at which a raft of new China-backed projects across the continent are likely to be announced.
China’s total commitments are expected to exceed the $60 billion that President Xi Jinping pledged in Johannesburg in 2015.
Yet worries over high debt levels associated with…
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