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How Chinese investment and debt finance impacts Africa continues to be a major source of contention. A stream of studies indicate a more nuanced reality between claims China is a benign partner in Africa’s development and claims China is driven solely by geopolitical interests.
The Jubilee Debt Campaign released a study on Africa’s external debt and the contribution of China’s official lending. Overall, Africa’s debt problems continue to increase. External government debt payments have doubled in just the past two years from an average of 5.9% of government revenue in 2015 to 11.8% in 2017. 
How Chinese investment and debt finance impacts Africa continues to be a major source of contention. A stream of studies indicate a more nuanced reality between claims China is a benign partner in Africa’s development and claims China is driven solely by geopolitical interests. 
China’s aid programmes are winning “hearts and minds,” especially in Africa. AidData, which assesses development programmes in the College of William and Mary, in its 2017 Listening to Leaders Survey placed China’s aid programme as the 21st in the world in terms of “perceived influence,” up from 29th only three years ago. India’s aid programme saw a jump from 31st to 24th. This placed both of them higher on the table than the larger aid programmes of Japan and Canada.
Chinese President Xi Jinping bowed, rhetorically, to growing criticism of his country’s investment and aid programmes in Africa at the annual Forum on China Africa Cooperation (FOCAC). He promised “five Nos” would govern China’s policies with the continent: no change to development paths, no domestic interference, no imposition of China’s will, no seeking of political gain and no “strings” to financial assistance. Xi said his country had “full respect for Africa’s own will.”

About the Author

Pramit Pal Chaudhuri writes on political, security, and economic issues. He previously wrote for the Statesman and the Telegraph in Calcutta. He served on the National Security Advisory Board of the Indian government from 2011-2015. Among other affiliations, he is a member of the Asia Society Global Council, the Aspen Institute Italia, the International Institute of Strategic Studies, and the Mont Pelerin Society. Pramit is also a senior associate of Rhodium Group, New York City, advisor to the Bower Group Asia in India, a member of the Council on Emerging Markets, Washington, DC, and a delegate for the Confederation of Indian Industry-Aspen Strategy Group Indo-U.S. Strategic Dialogue and the Ananta Aspen Strategic Dialogues with Japan, China and Israel. Born in 1964, he has visited over fifty countries on five continents. Mr. Pal Chaudhuri is a history graduate from Cornell University.