African Leaders Eye Xi's Deep Pocket ?



After paying a state visit to Zimbabwe, China's Xi Jinping is attending the Afro-Sino summit in Johannesburg, South Africa, where there is the gathering of around 40 heads of states and governments of the country members of African Union. During the address at the summit, President Xi unveils new measures, including financial package of $60 billion to empower African countries and support the development process.

China is regarded as not only the largest trading partner of Africa but also generous and prominent donor. For many years, China has funded various development projects in Africa, aiming to help African countries boost the infrastructure, telecommunications, energy, and medical system.
Regrading security sector, this rising power also tries to take a role as a peace maker helping stabilize the region. Late last year, China sent hundreds of its combat forces to join the peace keeping operation for the first time in South Sudan under the mandate of United Nations.
It is undeniable that African nations believe that dragon China is not a new colonizer, but they anticipate that China is really Africa's true friend. Things that make them believe so are Beijing never interferes in domestic affairs of its trading partners but creates jobs for African people by investments and be willing to spend to drag Africans out of extreme poverty by providing loan without imposing conditions as the west does.
For example China takes risk providing loan to Zimbabwe although this South African state used to default foreign debt and faces economic hardship. Experts also warn that the country like Zimbabwe could only borrow but seems to be hard to pay back that money to China. China claims Zimbabwe will be able to pay debt by increasing its ability to produce and to export.

China needs Africa more than Africa needs China ?
Many experts believe that China needs African nations as much as Africa needs China. Chinese government can no longer solely depends on investments for its growth, and of course it becomes the consumer driven economy. Thus, it is unavoidable for China to closely engage with Africa, the richest continent in term of natural resources, because China is really in the need of natural resources and raw materials.

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