China-Africa economic ties: Problems and outlooks

Abstract

The purpose of this article is to analyze the state of China-Africa economic ties and the changes taking place in them during the COVID-19 and the aggravation of international relations. The relevance of the topic is due to the political and economic significance of China as well as the important role of African countries in the world economy and modern international relations, and to the intensification of the world powers competition for positions and influence on the continent. Beijing is Africa's leading trade partner, one of its main donors and investors. The article analyzes China's economic cooperation with African countries, the problems they faced in era of COVID-19, and the prospects for their development. China's trade and economic relations with African countries have experienced a downturn due to the pandemic, lower commodity prices and other reasons, but now we see the growth of Sino-African trade. The article also contains an analysis of the global Chinese foreign policy initiative “One Belt, One Road” (BRI), which included Africa, and the results of the participation in Chinese project for African economy. The China-Africa Cooperation Forum (FOCAC), which has been operating since 2000, remains an important factor in Chinese policy on the continent. It was confirmed in November 2021 by the 8th FOCAC conference in Dakar (Senegal), where the supply of Chinese vaccines to the continent, lending to African projects, African debts, as well as the BRI integration with African Continental Free Trade Area were among the discussed issueses. In difficult conditions due to COVID-19 and worsening of international situation China-Africa economic cooperation continues to develop. However, Beijing is making certain adjustments to it. This applies, in particular, to project lending, which has aggravated the debt problem of some African countries.