China africa relations
China says Africa projects should be sustainable, denounces criticism
The IMF and World Bank began the Heavily Indebted Poor Countries Initiative in 1996 to help the world's poorest countries clear billions of dollars of...
When the plunge of global oil prices in 2014 blew a hole in the Congolese government's finances, it was China that stepped in to help.
Carter, who has devoted his post-presidential career to eradicating poverty, said that the "easiest route" to cooperation between the United States and China was in Africa.
Chinese Foreign Ministry spokeswoman Hua Chunying made the comment in an online statement responding to remarks made by US Vice President Mike Pence.
The announcement was made during a dialogue session between South African and Chinese diplomats to mark 20 years of trade relations between the countries.
The forum, which started on Wednesday, brought together several heads of state and CEOs from the continent with the aim of unlocking investment opportunities.
The complex relationship between Africa and China has become even more complicated this year.
The Chinese equity stock market — as represented by Shanghai stock market — actually peaked in 2015.
China has defended the latest promise of financing for Africa, saying China is helping the continent develop, not pile up debt.
Dozens of African leaders have made the trip to Beijing, with the aim of bolstering political and commercial ties with China.
President Xi Jinping on Monday announced his government would invest over $60 billion over the next three years into the continent and cancel debt from heavily indebted developing countries.
China has often been accused of debt trap diplomacy with African countries having accumulated over $100 billion in debt from the second powerful economy in the world.
Ramaphosa was hosted by Jinping at the State House on Sunday and will today co-chair a Forum on China-Africa Cooperation.
Economists estimate that every $100 billion of imports hit by tariffs would reduce global trade by around 0.5%.
At the last three-yearly gathering in Johannesburg in 2015, Xi announced $60 billion of assistance and loans for Africa.
US Secretary of State Rex Tillerson is using his first diplomatic trip to the continent to bolster security alliances on a continent increasingly turning to Beijing for aid and trade.
Uganda has discovered an estimated 6.5 billion barrels of crude reserves on its Albertine rift basin along the border with the DRC.
Chinese President Xi Jinping promised $60 billion in development to Africa.
Foreign investment into Zimbabwe plunged 59 percent to $67 million in the first half of this year.