What is the infrastructure gap in Africa?

The African Development Bank estimates that the continent’s infrastructure financing needs will be as much as $170 billion a year by 2025, with an estimated gap of around $100 billion a year.

What is the Belt and Road Initiative China?

It is an effort to develop an expanded, interdependent market for China, grow China’s economic and political power, and create the right conditions for China to build a high technology economy. …

Why does infrastructure development matter in Africa?

Infrastructure development is a key driver for progress across the African continent and a critical enabler for productivity and sustainable economic growth. It contributes significantly to human development, poverty reduction, and the attainment of the Millennium Development Goals (MDGs).

Why is there a lack of infrastructure in Africa?

One of sub-Saharan Africa’s top developmental challenges continues to be the shortage of physical infrastructure. Greater economic activity, enhanced efficiency and increased competitiveness are hampered by inadequate transport, communication, water and power infrastructure.

How does the Belt and Road Initiative Benefit China?

Through the rapid expansion of its demand for imports, China propels economic growth in the B&R countries that export goods to China. Under the cooperation framework of the Belt and Road Initiative, China supports developing countries such as those in Asia, Africa and Latin America to invest more in infrastructure.

What is China’s economic interest in Africa?

Xi said that China aims to develop infrastructure, improve agriculture and reduce poverty on the continent. This is only the latest example of China’s burgeoning economic presence in Africa.

How important is the Chinese economy to the United States?

All of these statistics show the importance of the Chinese economy and why any developments in China, be they negative or positive, can influence the world’s largest economy, the United States. The value of U.S. agricultural products exported to China in 2019.

What is the relationship between China and Africa’s infrastructure?

But the relationship is fraught with controversy. Opponents assert that it is exploitative for China to finance African infrastructure projects in exchange for the continent’s natural resources.

What is the bottom line on the Chinese economy?

The Bottom Line. The United States is one of the countries that is likely to be affected from a slowdown in the Chinese economy because of the expected decrease in the export of goods and services to China. However, the negative effects from the economic slowdown are partially offset by lower oil prices.