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The competition between the United States and China in Africa:
According to a report by Visual Capitalist, the United States and China have been competing significantly in terms of investment in Africa over the past 20 years. In 2003, the U.S. invested more than $2.5 billion in Africa, while China had no substantial presence. The U.S. maintained its lead until around 2012.
However, starting in 2012, China shifted its investment focus toward agriculture, services, and light manufacturing. This strategy allowed China to surpass the U.S. in investment within a decade, marking a significant shift in their economic rivalry on the continentIt’s interesting to note that in recent years, China has provided numerous loans to African countries, many of which were forgiven under the DSSI (Debt Service Suspension Initiative), amounting to hundreds of millions of dollars. For example, Chad’s debt, which totaled $3.9 billion, was included in these initiatives! 4 replies
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