Friday, May 1, 2020

Has China's Bet on Africa Failed?

Nikkei Asian Review published on 1 May 2020 a commentary titled "China's Expensive Bet on Africa Has Failed" by Minxin Pei, Claremont McKenna College.

The author concludes that because of pressure to cancel debt and investments that will fail, China must realize that it is unlikely to recover most of its sunken investments or loans because of the economic impact of coronavirus on Africa.

Comment: While the coronavirus is challenging economies globally, Minxin Pei's analysis strikes me as excessively negative.