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China’s debt waiver for 17 African countries has raised eyebrows among Chinese netizens

Posted by on 2022/08/21. Filed under Breaking News,China,Headline News,International. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

According to the Central News Agency today, the official website of the Chinese Foreign Ministry issued a press release on the evening of the 19th, saying that Wang Yi announced that China would cancel 23 debts of 17 African countries at the Coordinators’ meeting on the Implementation of the Outcomes of the 8th Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) on the 18th.

China has previously written off loan debt to African countries on several occasions. However, after the novel coronavirus pandemic began, such debt relief was briefly suspended.

According to Wang Yi, China will continue to take Africa’s needs as the starting point for cooperation with Africa, work with African countries to fully implement the “nine projects” and continue to promote high-quality cooperation under the Belt and Road Initiative. During the meeting, Wang Yi announced that China would cancel 23 interest-free loan debts of 17 African countries by the end of 2021 and pledged to continue to actively participate in major infrastructure construction in Africa through financing, investment and assistance. He also pledged to continue to increase imports from Africa and support the development of Africa’s agriculture and manufacturing industries. We should expand cooperation in emerging industries such as digital economy, health and green and low-carbon industries.

China will also continue to support “African solutions to African issues”, oppose “external interference” in the internal affairs of African countries and oppose creating confrontation and conflict in Africa, Wang was quoted as saying.

The report did not provide details or amount of debt relief for 23 loans from 17 African countries.

However, China’s foreign countries are facing a large amount of mortgage debt caused by bad housing, and a shortage of electricity caused by the crisis of power rationing; After seeing the government waive the debt of African countries, Chinese netizens have expressed their dissatisfaction. A large number of netizens have flooded the Weibo video under the film of “Politics Video”, which is owned by China.org.cn Live, protesting: “Can we free the mortgage?” “And” Do your people agree?” “I’ve worked hard this summer to get a tan.” “, “Is the welfare of your country in order?

China’s worsening economy has caused many construction projects to fall into disrepair, prompting homeowners to default on their mortgages. TheNewYorkTimes reported on Monday that China’s “loan lockdowns” have spread to 336 construction projects in more than 100 cities, and the research center of Macao sheng bank estimated that banks could affect $222 billion in mortgage loans.

At the same time, the water level of the Yangtze River in China has fallen to its lowest level in 61 years due to the continuous high temperature and drought since July. The water shortage has affected power generation. Even Sichuan Province, which has always been regarded as a big power province, has restricted industrial power consumption but still cannot solve the power supply shortage.

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