Intelligence Squared The Sunday Debate: Chinese Investment Is Good for Africa
May 29, 2022
Nkosana Moyo, former Vice President of the African Development Bank, and Stephen Chan, Professor at SOAS University, dive into the complex dynamics of Chinese investment in Africa. They discuss how China’s $23 billion investment has created both opportunities and challenges, emphasizing the need for informed negotiations and clearer regulations. Cultural missteps by Chinese firms and concerns over national security and autonomy are brought to light. The conversation ultimately advocates for African nations to take responsibility for their development and navigate foreign engagement mindfully.
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Plane Passengers
- Nkosana Moyo observed Chinese passengers disregarding disembarkation rules on a plane.
- The cabin crew hesitated to enforce the rules, highlighting a hesitancy to hold investors accountable.
Clear Protocols for Investment
- African nations must establish clear protocols for foreign investments.
- They must enforce these rules and hold investors accountable, just like any other host country.
Debt Diplomacy Concerns
- Chinese investment offers inducements that can lead to African nations becoming indebted.
- One-third of Zambia's external debt is owed to China, raising concerns about debt diplomacy.