₦airaland Forum

(Bloomberg) -- Huawei Technologies Co.’s latest smartphone clearly demonstrates wireless speeds akin to Apple Inc.’s latest iPhones in numerous tests, as more details emerge about a gadget labeled a Chinese breakthrough despite US tech sanctions.

Testing by Bloomberg News of Huawei’s new $900-plus flagship model shows bandwidth similar to other 5G phones. That aligned with blogposts and videos on Chinese social media that claimed the device came with 5G capabilities.

The gadget, which went on sale this week without the typical fanfare of a product launch, fanned patriotic fervor as it was seen to represent China’s ability to get around US sanctions. Shenzhen-based Huawei has been at the center of intensifying US trade curbs on Chinese businesses, which American officials say are based on national security concerns.

The Mate 60 Pro achieved speeds in excess of 350Mbps or megabits-per-second in testing on China Mobile Ltd.’s network in Hong Kong. Videos posted to the Weibo social service showed the handset approaching 1Gbps or gigabit-per-second.
Huawei’s new 5G chip, which powers its newly-released Mate 60 smartphone, is likely fabricated by SMIC. This marks a milestone in China’s semiconductor progression. Yet we expect limited financial uplift for SMIC in 2024, given production yield challenges and material constraints.
It remains unclear which chips Huawei used in its phone, a critical component for wireless connectivity.

Analysts at Sanford C. Bernstein including Mark Li said that teardowns suggest the speeds were accomplished with advanced packaging and other steps that could lead to extra power consumption. The chips may have higher costs than comparable silicon available outside of China, but Huawei may simply absorb the additional expenses, they wrote.

Berenberg analysts Tammy Qiu and Meha Pau said they believed top Chinese chipmaker Semiconductor Manufacturing International Corp. manufactured the radio chip based on 14nm or more advanced technology.
Huawei said the Mate 60 Pro is “the most powerful Mate model ever,” but declined to comment on the specifications of its processor or where and when it was made. Its interface, built on Huawei’s in-house Harmony OS, omits mention of the wireless standard.

Source:https://www.bloomberg.com/news/articles/2023-09-01/huawei-s-mystery-phone-shows-wireless-speeds-as-fast-as-apple?in_source=embedded-checkout-banner

As Commerce Secretary Gina Raimondo was visiting China earlier this week, a sea-green Chinese smartphone was quietly launched online.

It was no normal gadget. And its launch has sparked hushed concern in Washington that U.S. sanctions have failed to prevent China from making a key technological advance. Such a development would seem to fulfill warnings from U.S. chipmakers that sanctions wouldn’t stop China, but would spur it to redouble efforts to build alternatives to U.S. technology.

Huawei Technologies Co.’s new smartphone, the Mate 60 Pro, represents a new high-water mark in China’s technological capabilities, with an advanced chip inside that was both designed and manufactured in China despite onerous U.S. export controls intended to prevent China from making this technical jump. Those sanctions were first imposed by the Trump administration and continued under President Biden.

The timing of the phone announcement on Monday, while Raimondo was in Beijing, appeared to be a show of defiance. Chinese state media declared it showed the U.S. that trade war was a “failure.”

Paul Triolo, the technology policy lead at the Washington-based business consulting firm Albright Stonebridge Group, called the new phone “a major blow to all of Huawei’s former technology suppliers, mostly U.S. companies.”

“The major geopolitical significance,” he said, “has been to show that it is possible to completely design [without] U.S. technology and still produce a product that may not be quite as good as cutting edge Western models, but is still quite capable.”

Biden administration officials declined to comment.

How powerful the new chip design is remains an open question. Unusually, Huawei revealed little about key aspects of the phone in its announcement, such as whether it was 5G-enabled or what process was used to produce it. In a statement, Huawei simply touted the phone as making breakthroughs in “satellite communications.”

China’s official broadcaster, CGTN, in a post on X, formerly known as Twitter, called the phone Huawei’s “first higher-end processor” since U.S. sanctions were imposed and said the chip it contains was made by Semiconductor Manufacturing International Corp., a company partially owned by the Chinese government.

One person told The Washington Post that the Mate 60 Pro has a 5G chip. Speed tests posted by early buyers of the phone online suggest its performance is similar to top-of-the-line 5G phones. In July, Reuters reported Huawei’s imminent return to the 5G phone market, citing three technology research firms speaking on the condition of anonymity.

Nikkei Asia has reported, citing sources, that SMIC would be using what’s known as the “7-nanometer process” to make the chips for Huawei, the most advanced level in China. This would be on par with the process used for the chips inside Apple’s iPhones launched in 2018. Apple’s latest iPhone chips were made by the Taiwan Semiconductor Manufacturing Company, using what is known as the four-nanometer process. A nanometer is a measure of chip size, with the fewer nanometers in the process, the better. A piece of paper is about 100,000 nanometers thick.

U.S. sanctions were intended to slow China’s progress in emerging fields like artificial intelligence and big data by cutting off its ability to buy or build advanced semiconductors, which are the brains of these systems. The unveiling of a domestically produced seven-nanometer chip suggests that has not happened.

Industry experts cautioned that it’s still too early to tell how competitive China’s chipmaking operations will become. But what is clear is that China is still in the game.

“This shows that Chinese companies like Huawei still have plenty of capability to innovate,” said Chris Miller, a professor at Tufts University and author of the book “Chip War.” “I think it will also probably intensify debate in Washington on whether restrictions are to be tightened.”

Few stakeholders have yet to voice opinions publicly, as industry groups seek to confirm more details and evaluate their stances. But there is no doubt the new Huawei phone has sparked discussions of what comes next. “There is a lot of activity,” said Craig Allen, president of the U.S.-China Business Council, a nonprofit group that promotes trade between the United States and China.

Opinions differ as to how the U.S. government should react.

“This development will almost certainly prompt much stronger calls for further tightening of export control licensing for U.S. suppliers of Huawei, who continue to be able to ship commodity semiconductors that are not used for 5G applications,” Triolo said.

On the other hand, he added, “U.S. semiconductor companies would prefer to be able to continue to ship commodity semiconductors to Huawei and other Chinese end users, to maintain market share and stave off the designing [without] U.S. technology from Chinese supply chains more broadly.”

Washington faced a similar quandary of how to hobble the Soviet Union’s technological development during the Cold War. Willy Shih, an economist at Harvard Business School, said Huawei’s breakthrough was evocative of what happened with Global Positioning System technology, now commonly known as GPS. The U.S. Defense Department developed the technology and restricted its export, wary of it in the hands of rivals. But the export restrictions pushed Moscow and other governments to develop their own versions, Shih said.

“So it went from a situation where the U.S. really dominated that technology and everyone would come to the U.S. to buy it, to now there are all these different alternatives,” he said. “And you have to wonder if the same thing is happening now with Huawei.”

China’s race to build an advanced homegrown chip began in May 2019, when, amid the Trump administration’s trade war with China, the Commerce Department put Huawei on its “Entity List,” prohibiting U.S. companies from doing business with it. Some wondered if it was a “death penalty” for Huawei, with the company choked from obtaining key components.

Huawei had long been in the crosshairs of Washington as the sharpest tip of China’s tech industry. Since 2012, Huawei has been the world’s largest supplier of the equipment needed to operate the global internet, a position it has maintained despite U.S. sanctions. Huawei files more patent applications than any other company in China, and a constellation of Chinese start-ups rely on Huawei’s AI algorithms to build their own applications for face and voice recognition, pattern identification and other purposes.

Huawei’s business lines include geopolitically sensitive products including mobile base stations that provide nations with cell coverage, video-surveillance gear for police and submarine cable systems, which all require chips as their brains.

In the wake of the sanctions, Ren Zhengfei, Huawei’s charismatic founder who got his start in China’s army engineering corps, rallied Huawei’s staff for an all-out fight for the survival of their company. They stockpiled chips from overseas suppliers, predicting that Washington might close loopholes in the sanctions. This indeed came to pass. Washington plugged the loopholes one by one, including sanctioning SMIC, the only factory in China potentially capable of manufacturing advanced chips for Huawei — and pushing for suppliers of specialized chipmaking gear to halt sales to China more broadly.

Since then, Huawei has hunkered down into survival mode, drawing on its stockpiled chips as it raced to secure a domestic chipmaking solution.

SMIC has striven to make cutting-edge chips since its founding in 2000, but the dream had long seemed pie-in-the-sky. Each generation of chips reflects a new frontier in just how microscopically small humans can draw precise designs into a sheet of silicon. By the time SMIC caught up to one generation, industry leaders had raced further ahead based on new breakthroughs by the world’s brightest physicists and technicians.

“It’s hard to catch up because chips are the most complex manufactured good humans have ever produced,” Miller said. “There’s nothing more complicated that humans make … this is really hard stuff.”

Miller says a considerable gap remains between SMIC’s capabilities and those of TSMC, the industry leader that produces the newest chips for companies like Apple. It also remains unclear if SMIC can produce advanced chips at a scale and cost that will make its products globally competitive.

Shih said that regardless of if SMIC can reach the cutting edge, the foundry will certainly be able to produce older-generation chips at scale, possibly pushing down prices of chips worldwide. “We will see price pressure and commoditization pressure,” he said.

U.S. companies like Intel and Qualcomm have already lost significant sales in China, the world’s second-largest economy, due to the U.S. sanctions, crimping their research and development budgets. U.S. executives fear this could weigh on their long-term strength, in an industry where only a few of the strongest, fastest companies tend to survive.

“It starts a downward spiral in ability, to not be competitive with the rest of the world,” said an industry executive, who spoke on the condition of anonymity because of the sensitivity of the subject.

Since the U.S. chip sanctions began, Beijing has flexed what muscles it can to prevent more of the global chip industry from falling under Washington’s sway. For instance, Intel recently announced it will have to pay $353 million in termination fees to Israel’s Tower Semiconductor after failing to acquire Chinese regulatory approval for the acquisition.

Source: https://www.washingtonpost.com/technology/2023/09/02/huawei-raimondo-phone-chip-sanctions/

OChimex:
Honestly, those guys see Africa as idiots. See the stupid things dem they build sell for Africa. By the end of the year dem don build note 200. Same shitty thing, all the times. Go their countries, you no go see these shitty phones there.

These phones are entry-level, low-grade and low-cost gadgets made for poor countries. You get what you can afford.

LastProphet:
Those that will buy don't know that the phone cannot work in the US

These phones are not even sold in China. They are produced exclusively for the African, Indian, Bangladeshi and some middle eastern markets.
Tecno, itel and Infinix all have the same parent company— Transsion Holdings.

The US has sensitive nuclear technology at a nuclear power plant inside Ukraine and is warning Russia not to touch it, according to a letter the US Department of Energy sent to Russia’s state-owned nuclear energy firm Rosatom last month.

In the letter, which was reviewed by CNN and is dated March 17, 2023, the director of the Energy Department’s Office of Nonproliferation Policy, Andrea Ferkile, tells Rosatom’s director general that the Zaporizhzhia Nuclear Power Plant in Enerhodar “contains US-origin nuclear technical data that is export-controlled by the United States Government.”

Goods, software and technology are subject to US export controls when it is possible for them to be used in a way that undermines US national security interests.

The Energy Department letter comes as Russian forces continue to control the plant, which is the largest nuclear power station in Europe and sits in a part of the Zaporizhzhia region that Russia occupied after its invasion of Ukraine last February. The plant has frequently been disconnected from Ukraine’s power grid due to intense Russian shelling in the area, raising fears across Europe of a nuclear accident.

While the plant is still physically operated by Ukrainian staff, Rosatom manages it. The Energy Department warned Rosatom in the letter that it is “unlawful” for any Russian citizens or entities to handle the US technology.

CNN has reached out to Rosatom for comment.

“It is unlawful under United States law for non-authorized persons, including, but not limited to, Russian citizens and Russian entities,” the letter says, “such as Rosatom and its subsidiaries, to knowingly and willfully access, possess, control, export, store, seize, review, re-export, ship, transfer, copy, manipulate such technology or technical data, or direct, or authorize others to do the same, without such Russian entities becoming authorized recipients by the Secretary of the US Department of Energy.”

It is not clear whether Rosatom has responded to the letter. The Energy Department’s National Nuclear Security Administration told CNN in a statement that the letter is authentic.

The letters were first reported by the Russian news outlet RBC.

“The Department of Energy’s National Nuclear Security Administration can confirm that the letter is legitimate,” said Shayela Hassan, the deputy director of public affairs for the National Nuclear Security Administration.

She added: “The Secretary of Energy has the statutory responsibility for authorizing the transfer of unclassified civilian nuclear technology and assistance to foreign atomic energy activities. DOE does not comment on regulatory activities.”

Another letter from Ferkile to the Energy Department’s Inspector General, reviewed by CNN and dated October 24, 2022, outlines the technology the US has exported to Ukraine for use in the Zaporizhzhia plant and reiterates that the department has “no record of any current authorization to transfer this technology and technical data to any Russian national or entity.”

The Energy Department’s Office of Nuclear Energy has been public about the US’ support for the plant, and stated on its website in June 2021 that “the United States helped implement new maintenance procedures and operations at the reactor that should ultimately strengthen energy security” in Ukraine.

Source: https://www.cnn.com/2023/04/18/politics/us-warns-russia-zaporizhzhia-nuclear-plant/index.html#:~:text=The%20US%20has%20sensitive%20nuclear,energy%20firm%20Rosatom%20last%20month

Faithful007:
The US leads everyone in AI. OpenAI's ChatGPT, Tesla's Self-driving. Google Brain and Deepmind, Nvidia etc. No human being on the planet can beat Google's Deepmind in any game currently.

Just last month the US Air force flew an F-16 entirely with AI. No human input. Which other country has done that?

I didn't write the report. It was published by the Australian Strategic Policy Institute that is funded by the Australian and United State Government. Here is a link to their sponsor list: https://www.aspi.org.au/sponsors

I believe they know what they are talking about. A lot of people don't know what China is doing because they are closed and the media doesn't shine light on them. The report is to sensitize the West that China is not sleeping.

"ASPI said China’s growing prowess in critical technologies, which the think tank credited to long-term policy planning, should be a “wake-up call for democratic nations”.

“In the long term, China’s leading research position means that it has set itself up to excel not just in current technological development in almost all sectors but in future technologies that don’t yet exist,” ASPI said in a commentary accompanying the report.

INDIA is a shinning star. I'm really surprised with their progress. I lived in India in the past and noticed that they have very brilliant and hard working people but their position in this report is something.

Not a single country from Africa. What are we doing?

China is further ahead in more areas than has been realised. It’s the leading country in 37 of the 44 technologies evaluated, often producing more than five times as much high-impact research as its closest competitor. This means that only seven of the 44 analysed technologies are currently led by a democratic country, and that country in all instances is the US. The US maintains its strengths in the design and development of advanced semiconductor devices and leads in the research fields of high performance computing and advanced integrated circuit design and fabrication. It’s also in front in the crucial areas of quantum computing and vaccines (and medical countermeasures). This is consistent with analysis showing that the US holds the most Covid-19 vaccine patents and sits at the centre of this global collaboration network.9 Medical countermeasures provide protection (and post-exposure management) for military and civilian people against chemical, biological, radiological and nuclear material by providing rapid field-based diagnostics and therapeutics (such as antiviral medications) in addition to vaccines.10 The race to be the next most important technological powerhouse is a close one between the UK and India, both of which claim a place in the top five countries in 29 of the 44 technologies. South Korea and Germany follow closely behind, appearing in the top five countries in 20 and 17 technologies, respectively. Australia is in the top five for nine technologies, followed closely by Italy (seven technologies), Iran (six), Japan (four) and Canada (four). Russia, Singapore, Saudi Arabia, France, Malaysia and the Netherlands are in the top five for one or two technologies.

You can download the report here; https://www.aspi.org.au/report/critical-technology-tracker

seguno2:
What do you think of Chinese annexation of Tibet

What does Tibet has to do with this thread?

irepnaija4eva:
Never trust these Chinese.. That's why Saudi Arabia dey follow them up bumper to bumper.
Every agreement must favour the host nation..

Who else is building one there?

Another mechanism to stir the anger in their people with Mexico border issue.

prof22:
China is a useless country ..all they do is create problem and they most times dont have solution....Corvid 19 started their they lost control of it...How will your spy balloon cross into another country space and you are apologising for it.

Yet, see all these US military bases around China.

The UK economy will shrink and perform worse than other advanced economies, including Russia, as the cost of living continues to hit households, the International Monetary Fund has said.

The IMF said the economy will contract by 0.6% in 2023, rather than grow slightly as previously predicted. However, the IMF also said that it thinks the UK is now "on the right track". Chancellor Jeremy Hunt said the UK outperformed many forecasts last year. But shadow chancellor Rachel Reeves said the figures showed the UK "lagging behind our peers".

The IMF, which works to stabilise economic growth, said it had downgraded its forecast for the UK because of its high energy prices, rising mortgage costs and increased taxes, as well as persistent worker shortages. It did not mention Brexit in its report as a factor for the UK not performing as well as others. Today marks three years since the UK left the EU. If a country's economy shrinks, typically this means companies make less money and the number of people unemployed rises.

IMF chief economist Pierre-Olivier Gourinchas told the BBC that last year, the UK had "one of the strongest growth numbers in Europe", having expanded by 4.1%. Figures released on Tuesday indicated that the Eurozone grew by 3.5% in 2022, while the economy of the whole European Union expanded by 3.6%. Mr Gourinchas said this year's forecast for the UK reflected its "high dependence" on expensive liquid natural gas, which had driven up the cost of living. He said the government plans since November when it set out its spending plans in the Autumn Statement showed the UK was "certainly trying to carefully navigate these different challenges and we think that they are on the right track".

The UK is expected be the only country to shrink this year across all the advanced and emerging economies. Even sanctions-hit Russia is now forecast to grow this year. The IMF expects the UK to grow in 2024, revising up its forecast to 0.9% from 0.6%.

Paul Johnson, director of the Institute for Fiscal Studies, said that the IMF's forecasts were not always right, and he noted the fund was "actually being more optimistic than it was a few months ago". Forecasts from the Bank of England due later this week are likely to be more positive than they were two or three months ago, he added. "My best guess is that the economy will be broadly stagnant this year. That we're not going to get much in the way of growth but we're not going to have a deep recession either," he told the BBC's Today programme. "Now that's not great, particularly as we should be bouncing back more strongly from Covid and particularly as we've not been growing terribly well for the last decade and more."

A forecast such as this on its own, even from the world's most important international economic institution is just that, a forecast. But the value can come when it tells a different story across all the countries it surveys. In this case, the UK looks like an outlier. It was the only country to see a marked downgrade to growth forecasts since the autumn, and the only major G7 country to be forecast to contract this year.

The short answer is that the UK economic environment has worsened after September's mini-budget. The tax and interest rate rises required will slow the UK economy in particular alongside the more common shock of still high energy prices. The longer answer is that the IMF is not the only august institution wondering about economic hits affecting the UK. The IMF's bleak picture for the UK comes after Mr Hunt warned it was "unlikely" that there would be room for any "significant" tax cuts in the Spring Budget. The chancellor, who has been under pressure from some in his party to cut taxes to stimulate the economy, has said that lowering inflation "is the best tax cut right now".

Inflation - the rate at which prices rise - remains close to its highest level for 40 years. Prime Minister Rishi Sunak has pledged to halve inflation by the end of the year, but many expect this to happen anyway largely due to a slowdown in energy price rises and as post-pandemic supply problems ease. The government's official independent forecaster the Office for Budget Responsibility (OBR) expects inflation, which measures the rate of price rises, to fall to 3.75% by the end of this year - well below half the current level. Andrew Bailey, the governor of the Bank of England, has also said inflation is likely to fall rapidly this year but has warned a UK recession is still on the cards.

While the IMF predicts the UK economy will contract, it forecasts economic growth of 1.4% in the US, 0.1% in Germany and 0.7% in France.
Mr Hunt said the IMF's figures "confirm we are not immune to the pressures hitting nearly all advanced economies". "Short-term challenges should not obscure our long-term prospects - the UK outperformed many forecasts last year, and if we stick to our plan to halve inflation, the UK is still predicted to grow faster than Germany and Japan over the coming years," he added.

Economic forecasters are not always right when it comes to predicting the future. The IMF has said its forecasts for most advanced economies like the UK's have more often than not been within about 1.5 percentage points of what actually happens. The IMF said the trend of central banks putting up interest rates to try to curb inflation and the war in Ukraine continued to "weigh on economic activity" across the world. But it said China reopening its economy from Covid restrictions "paved the way for a faster-than-expected recovery" globally.

Source: https://www.bbc.com/news/business-64452995

Roboto11:
Musk may never recover.

Even if his wealth crashed to $1 billion, he will still richer than 99% of people in the world. That's a lot of money my friend.

tishbite42:
You must be either a Chinese or a drug addict
The gibberish you wrote can't come from a logical and sane mind

Why are you insulting me? I was just stating the fact. Kindly let us know if you have anything to refute what I wrote.

The fact that you hate the truth doesn't negate it

CoronaVirusRelo:
Everyone knows China boycotts quality and standards at reduced price, and it applies to everything China makes!

It will only be attractive and cheap, it will never be close to the original

Yes, they make shitt.y products. They also make quality and competitive products as well.

In construction, they are one of the best by a long shot. They have built some of the most impressive and complex structures man has ever seen.

Comparing Julius Berger and CCECC is like comparing UI to Harvard Uni. UI has a good reputation in Nigeria but it's not known outside Nigeria

pocom35:
Lol...not really..

The project as Chinese financers..hence the importance of giving it to a Chinese firms if Lagos is to receive the funds...same way they awared our electricity revamp to Siemens because Germany is gonna lend us money for it..
And CCECC handling all the rail projects simply because it loans comes from china ..it a policy....

If I borrow you money for infrastructure my country people must pertake in it .

Still Julius berger remains the best in Nigeria. No caps

If talking about construction in world, Berger is nothing. Nobody even knows them.

CoronaVirusRelo:
When you talking about quality, China don’t come close!

Pick out the best of China construction and let me show you what Berger can do.

They are not comparable if quality should be put on the table!

Berger and CCECC? They are not even on the same level, not even close. The media is making people really ignorant. China has one of best construction companies in the world.

CCECC built the stadium that was used for the FIFA World Cup 2022 final in Qatar

vengertime:
Of course it has to be China they are always ready for any how you want your corruption ,

they are there for you

In this present age, if you want your work to be done, they are the ones to call.

symbianDON:
.......The first batch exports vehicles included leading domestic brands such as JAC, Jiangling, King Long, Foton and Golden Dragon.......
I quoted that from the link you posted. The question is, how many of the aforementioned brands are marketed as toks in Nigeria?

"....The first batch exports vehicles included [/b]leading domestic brands"

The first batch of the three hundred exported used cars according to Ministry of Commerce in China would include brands from [b]Toyota, Land Rover, Hyundai, Trumpchi, Volkswagen, Yutong, King Long, WOHO and Zhongtong....

Source https://naijauto.com/car-events/china-used-cars-to-nigeria-4503

symbianDON:
nope! Nigeria's toks cars aren't sourced from China.

Just say you don't know. http://www.exploringtianjin.com/2019-09/03/c_404831.htm

The missile was initially blamed on Russia, but the US president has contradicted this, saying "there is preliminary information that contests that".

Joe Biden has cast doubt on the origin of a missile that hit Poland and killed two people late on Tuesday, saying it is "unlikely" to have been fired from Russia.

The US president was speaking after a meeting with G7 and NATO leaders to discuss the incident, which hit a grain silo in Przewodow, near Poland's border with Ukraine.

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Ukrainian and Polish authorities said the explosion was caused by a Russian-made missile, but Mr Biden appeared to step back from this.

He said: "There is preliminary information that contests that.

"I don't want to say that until we completely investigate it, but it is unlikely in the lines of the trajectory that it was fired from Russia but we'll see."

The missile had sparked worried talk of NATO's Article 5, which means that an attack on a member country is seen as an attack on all member countries.

A number of NATO countries and allies used Twitter to voice their support for Poland, including British PM Rishi Sunak, who "reiterated the UK's solidarity with Poland".

https://news.sky.com/story/missile-that-hit-poland-is-unlikely-to-have-been-fired-from-russia-us-president-joe-biden-says-12748538

YourNextLevel:
Everything in China including technology, development, sickness , eating of ants and rats earthquakes, drought even backwardness (i know people will doubt this one).

May God help you guys though they dont believe in God shaa

You think like this because that’s all you hear about the country. Just like Nigeria is more than a country of scammers, drug pushers, war torn and extreme poverty.

Moreover, this is a tragic situation. If you have nothing to say in this situation, just keep quiet.

NotKnown:
China is like the devil who will give you cap and collect your head in return

Can you please explain?

BeanmanX:
Africans are selling their rights to China,,,I wonder why they keep borrowing frequently from this people and we don't see what they use the money for,, useless government.

I keep hearing these silly statements all the time. Can you please tell us what right they sold to China?

Nigeria external debt is almost $40 bn and owes China about $3.5bn (10% of External debt) out of that. You can see the rail tracks, new airports and train cars that these money was used to buy and build.

Can you please show me what the rest of the 90% was used for?

Day169:
I hope Nigeria isn't expecting any debt forgiveness from China..
These guys know us well and our corrupt nature.

Why will they forgive our debt? Will you give them back the rail tracks, new airports and train cars that the loan provided?

China, Africa’s largest bilateral lender, waived debt owed by 17 countries in the continent for 23 interest-free loans that were due in 2021.

The context of the latest relief reinforces China’s intention for Africa to consider the Asian power its preferred long-term development partner, especially “in the face of the various forms of hegemonic and bullying practices,” Wang Yi, China’s foreign minister, said. That may have been a reference to the recent contentious visit by US House of Representatives speaker Nancy Pelosi to Taiwan.

The relief was announced on Aug. 18 by in an address to Chinese and African diplomats at a follow-up meeting on the Forum on China-Africa Cooperation that was held last November in Senegal. At that forum last year, China reduced its pledge to Africa by 33% in an apparent show of concern for Africa’s indebtedness to it and against the backdrop of slowing Chinese economic growth.

Specifics of the announced relief are not known as the beneficiaries and amount were not disclosed. China canceled debt due to interest-free loans worth $113.8 million that matured in 2020 for 15 African countries including Botswana, Burundi, Rwanda, Cameroon, the DRC, and Mozambique.

China and Africa shake hands on non-interference

“China appreciates the firm commitment of African countries to the one-China principle and your strong support for China’s efforts to safeguard sovereignty, security, and territorial integrity,” Yi said.

He emphasized other points of political agreement between China and Africa, the result being that Africa has received infrastructure and humanitarian investments funded by China, from the Foundiougne Bridge which opened in Senegal this year and the Nairobi Expressway in Kenya, to emergency food assistance to Djibouti, Ethiopia, Somalia, and Eritrea.

Chinese financiers and African governments signed over 1,180 loan commitments worth $160 billion between 2000 and 2020, the China Africa Research Initiative’s (CARI) database shows, two-thirds being for transport, power, and mining projects. Angola, Zambia, Ethiopia, Kenya, and Cameroon have borrowed the most from China in dollar terms.

Yi pledged further Chinese investment in Africa including support for a ‘Great Green Wall’ against climate change, providing food assistance to 17 countries, and increasing Chinese imports from Africa. At the same time, he reinforced a core tenet of relations between both parties: “China will continue to support solving African issues in the African way. We oppose interference by outside forces in African countries’ internal affairs, and oppose stoking confrontation and conflict in Africa.”

And in an apparent criticism of the US and Europe’s motives for sanctions against Russia in its ongoing war in Ukraine, Yi said Africa wants “a favorable and amicable cooperation environment, not the zero-sum Cold War mentality…mutually beneficial cooperation for the greater well-being of the people, not major-country rivalry for geopolitical gains.”

It’s a tone that is increasingly welcome in parts of Africa, especially in francophone countries demanding an end to France’s influence in the sub-region. Just last week, Mali accused France of funding militant groups who want to destabilize the west African country, escalating a recent fallout between both countries.

Source: https://finance.yahoo.com/news/china-waived-debt-17-african-120100123.html