African Countries with the most China Debt In this video we shall be presenting the Top 10 African countries with the most Chinese debts.
The Relation between China and Africa is refered to as Sino – African Relation and this relation dates back as early as the 15 century, However Modern political and economic relations between Africa and china commenced in the era of Mao Zedong, following the victory of the Chinese Communist Party in the Chinese Civil War.
Starting in the 21st century, the modern state of the People's Republic of China has built increasingly strong economic ties with Africa.
There are an estimated one million Chinese citizens residing in Africa. Additionally, it has been estimated that 200,000 Africans are working in China. We have a video on the Top 10 African countries with the most Chinese population, click on the card on your screen to check if out.
In 1980, the total China-African trade volume was US$1 billion.
In 1999, it was US$6.5 billion and in 2000, US$10 billion.
By 2005, the total Sino-African trade had reached US$39.7 billion before it jumped to US$55 billion in 2006, making China the second largest trading partner of Africa after the United States, which had trade worth US$91 billion with African nations.
Many African Countries are currently indebted to china, and china is now exploiting these countries due to the fact that they are unable to repay their loan, What China is doing in Africa is refered to debt trap diplomacy where by China intentionally extends excessive credit to another debtor country with the alleged intention of extracting economic or political concessions from the debtor country when it becomes unable to honor its debt obligations (often asset-based lending, with assets including infrastructure).
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There are many African countries that owes china but these are the Top 10 ones with the most Chinese debts.
10. DR Congo – Estimated Debt – $3.4 Billion The Relationship Between China and the Democratic Republic of Congo dates as far as 1890.
9.Ghana – Estimated Debts - $3.5 Billion Relations between the two countries date back to 1960 when the countries first established diplomatic relations.
8. Nigeria
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Watch the video and see the countdown Ranking and complete it your self.
Op you should've just written the list here and not take us to some youtube channel. Anyways, i am sure nigeria will be among the top five on this one.
junketer: Op you should've just written the list here and not take us to some youtube channel. Anyways, i am sure nigeria will be among the top five on this one.
Yes Nigeria is d. Upon Nigerian Great poor management has makes it to become the greatest debtors of all time.
