During the US-Africa Leaders’ Summit, which was held between December 13-15, numerous economic issues between the involved parties were discussed including the US’s subsequent and potential economic deals with Africa.
This would entail increasing America’s sphere of influence in Africa, which in itself denotes cutting down the leverage other markets such as China have been able to build up in the continent over the years.
Although President Joe Biden’s administration disclosed that the summit had nothing to do with China’s economic influence in Africa , the subject was still brushed over.
The Rwandan president openly divulged that Africa has a right to explore financial partnerships with whosoever she chooses. He was vocal about Africa’s quest to expand its partnership with China.
China’s economic partnership with several African states in recent years have surpassed the US in trade and economic cooperation with Africa.
“I don’t think we need to be bullied into making or taking choices – choosing between the US or China; it’s really none of our business. I think we need to have both and others as partners as long as they respect us and understand that we have something to contribute,” the President said.
He also went ahead to charge the west to be more attuned to Africa’s developmental needs, urging them to step up and stop complaining about China’s influence on the continent.
One of the West’s arguments against China’s economic partnership with African countries is the alleged debt trap China is setting for the motherland.
But while China’s debt in the continent continues to rise, African countries currently owe three times more debt to Western institutions compared to China.
President Kagame also spoke on the debt concern, noting that in his opinion, China’s growing debt in Africa is partly Africa’s fault owing to its excessive borrowing. He admitted that for the debt concern to be annulled, Africa must moderate the way it borrows from China.