French media: Europe and the US are unwilling to fall behind China in Kenya, increasing investment
Reuters report, as Zambia's $13 billion debt restructuring moves toward a sustainable repayment path, Europe and the United States are also striving to become its "alternative" aid providers, competing for local development space with China.
Zambia, which is pushing industrialization, urgently needs new investments in mining, infrastructure networks, and capacity. Meanwhile, China hopes to expand the export of goods such as tractors, electrical equipment, and engineering vehicles. The World Bank expects Zambia's economy to grow by 6.5% next year, while its average growth rate over the past 20 years has been 5%.
In addition, "China has approved large-scale renovation of the Tazara Railway project this year, while the United States and the European Union support the 'Lobito Corridor' plan." The Tazara Railway was built by China in the 1970s, connecting Zambia's copper mining areas with the eastern coast of Tanzania; while the West is strengthening transportation routes through Angola and the Democratic Republic of the Congo into Zambia.
According to data from the American Enterprise Institute, Chinese enterprises have invested about $6 billion in Zambia over the past 20 years, most of which has flowed into the metal industry. Now, these companies face growing competitive pressure from European and American companies.
The EU's senior official responsible for international cooperation and development visited the "Lobito Corridor" at the beginning of this month and announced that it will increase investments in transportation, energy, agriculture, and critical raw materials along the route.
In addition, the eldest son of U.S. President Trump, John Trump, met with Zambian President Hakainde Hichilema in Lusaka on Sunday, and Hichilema announced this news on his social platform.
Source: rfi
Original: www.toutiao.com/article/1849240072733708/
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