China in her aspirations to become a global trade leader is employing an imperialist behavior, willing to step on the back of any hungry country enough to be lured with access to a market of a billion people and huge interest on the debt – which is often extended in kind rather than in cash.
The relationship between China and Africa can be summarized as a ‘debt-trap diplomacy’ and most African countries are finding the honey so sweet as to keep going for more and more. Being offered cheap infrastructure loans, with the sting of default coming if smaller economies can’t generate enough free cash to pay their interest down.
Through debt China has used its soft power to gain access to the African unfettered market, employing craft predatory trade agreements that have seen it import its products “Made in China” at the expense of local industries.
Below are African Countries owing China a great deal of debt.
Amount in USD
Republic of Congo
Democratic Republic of the Congo