NAIROBI (Reuters) – China’s zero-tariff access for Africa’s least developed countries kicked in this week, a senior Chinese diplomat said, just as U.S. President Joe Biden visits Angola.
WHY IT’S IMPORTANT
China and the United States have jostled for influence in Africa, with the former lending billions of dollars via its Belt and Road Initiative, before significantly scaling back in 2019, and the latter struggling to gain traction.
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China announced a pivot from outright lending to trade and investments in 2021. Some countries it lent to have defaulted on debts, starting with Zambia in 2020.
Biden, meanwhile, promised the U.S. is “all in on Africa” during his first visit to the continent this week.
BY THE NUMBERS
China began implementing zero tariffs for a range of products from Africa’s…
