The Belt and Road Initiative (BRI) launched by China in 2013 as a new development strategy has provided fresh opportunities for China to reach out to the world. In the past nine years, the BRI has evolved from an initiative covering only roads and maritime corridors in Asia and Europe into a broader program connecting almost all of Asia, Africa, and Europe with numerous projects in those regions. In response to China’s increasing influence in Africa and its ambitious Belt and Road Initiative, there have been significant discussions on whether this is too much of a good thing or if it presents some benefits. While some see Chinese investment as an opportunity for the improvement of infrastructure on the continent others consider it as nothing more than a Trojan Horse designed to make sure that China will be able to control access to African resources.
The BRI and Africa: Is China investing too much?
One of the most common arguments against the BRI in Africa is that Chinese investment is too much. Already, Chinese investment in Africa is estimated to be on average twice that made by the U.S. annually. But the concern is that with the BRI China will outstrip investments to the extent that Africa will become overly dependent on Chinese investment. While the BRI may bring some problems for Africa, the argument that these are too many investments is somewhat misleading. The BRI and subsequent investment from China is not a one-way street.
Is the BRI a tool for China to control African resources?
Some have argued that the BRI is a tool to control African resources, especially minerals. This is a view that has been particularly prevalent in the past because of China’s historical focus on commodities in its investment in Africa. Others have also argued that China’s control of the Suez Canal, with its ownership of the Port of the Canal, will give it control of the flow of commodities between India and Africa. However, despite these concerns, the BRI is not a tool for China to control African resources; indeed, Chinese investment in Africa is to a large extent motivated by need rather than greed. China’s increasing demand for commodities like copper, which it needs for its ever-growing economy, is met with an ever-decreasing supply, necessitating investment in new sources.
What is China actually investing in Africa?
Another common argument against the BRI in Africa is that China is investing in low-return projects. Others have also argued that Chinese investment is likely to be so significant that it will displace African investment. However, it is important to remember that the BRI is not one coherent entity, but a massive movement of investment from China to all parts of the world. Within Africa, Chinese investment covers all kinds of projects, from airports and railways to solar power plants and hospitals. The BRI does not have a pre-set agenda for what China should invest in, but is a product of the needs of each country, with the level of investment depending on how much the host country can provide as an incentive.
Opportunities for Africans through the BRI
The BRI, as a scheme that connects China with the rest of the world, also brings opportunities for Africans. The BRI offers African countries a chance to use their comparative advantage to access the Chinese market. The friendly economic and trade exchanges between China and Africa have supported the development of African countries through investment. One of the good sides of Africa-China relations is defined by mutual interest boosting economic and trade cooperation, unlike the Africa-West relationship which was defined by superiority complexes and various imbalances.
African countries are also keenly aware that completely copying the Western development model and being divorced from their national conditions is not only useless to Africa’s development, but may even hinder their development. In a sense, the development of African countries can only choose their development path according to their national conditions. Chinese modernization road respects national conditions, emphasizes a diversified development path, and does not interfere with other countries’ internal affairs. Above all, the Chinese model pays attention to mutually beneficial cooperation, welcomed by the masses of developing countries.
The Belt and Road initiative once again tells the world that China does not pursue hegemony. Its goal is to build a “community of shared future” with neighboring countries and a China-Africa community of shared future so that China and African countries share development and people-to-people connectivity and interests are integrated. In the past, China-Africa friendship and cooperation were mainly provided with more assistance at the national level. What the new era requires is a market mechanism of cooperation, exchange, common development, and mutual benefit. Driven by the new model of China-Africa cooperation under the Belt and Road initiative, the situation in Africa has been stable in recent years, and the investment environment and business environment have gradually improved.
The BRI is a massive development strategy that aims to link Asia, Europe, Africa, and Oceania. It is a broad initiative that will bring billions of dollars of investment to the world and will have significant impacts on all of the countries that are connected through it Now, China-Africa cooperation has entered a new era. In the past, China-Africa friendship and cooperation were mainly provided with more assistance at the national level. What the new era requires is a market mechanism of cooperation, exchange, common development, and mutual benefit. Driven by the new model of China-Africa cooperation under the Belt and Road initiative, the situation in Africa has been stable in recent years, and the investment environment and business environment have gradually improved. China-Africa cooperation has mutual needs and advantages. The initiative will have an impact on the world for decades to come.