Africa to focus on its China debts at summit
Johannesburg
SOME African countries may seek to renegotiate repayment of existing debts to China as a way of helping their economies hit by lower crude and commodity prices, but will not turn down offers of new loans by the Asian giant at a summit this week.
African countries will also seek more Chinese investment in factories manufacturing goods for export in addition to roads and railways on a continent long seen as a major commodities and energy source for China.
Chinese state-owned firms in Africa face criticism for using Chinese labour to build government-funded projects such as roads and hospitals, while pumping out resources and leaving little for local economies, an image Beijing wants to change at the Forum on China-Africa Coopera…
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