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Is Xi’s pledge to give $51 billion to Africa a landmark deal or a debt trap
In a sweeping announcement at the Forum on China-Africa Cooperation Summit held on 5 September 2024 in Beijing, China’s President Xi Jinping pledged nearly $51 billion over the next three years to bolster China’s relationship with Africa. This promise encompasses significant funding for infrastructure projects, job creation, and investments in key sectors such as agriculture and industry. While this colossal investment signals a deepening of ties between the two regions, it also prompts a closer examination of the underlying dynamics and potential implications of such a grand commitment.[…]