China's “Marshall Plan” for Africa — debt or new deal?

China's President Xi Jinping (right) invites Congo President Denis Sassou Nguesso to view an honour guard during a welcoming ceremony inside the Great Hall of the People in Beijing on September 5, 2018, a day after the conclusion of the Forum On China-Africa Cooperation. PHOTO | LINTAO ZHANG | AFP

What you need to know:

  • Like the Marshall Plan that prioritised the reindustrialisation of Europe after the war, China is laudably giving a pride of place to Africa’s industrialisation.
  • Aware that the Marshall Plan aid was to be repaid, Germany spent its funds very carefully, explaining why it became more industrialised than the rest of Europe.

The recently concluded China-Africa Summit offers a new deal for Africa’s recovery.

Welcome!

You're all set to enjoy unlimited Prime content.