Lead
The "house speculation group" has set its sights on Africa, but the Chinese who are mixed in with it do not know that they are already regarded by the Europeans as a "strong competitor".
It turns out that at this time, the 21st century has come, and this is no longer the second "African war" to conquer Asia, Africa and Latin America, but an all-round battle.
What caused China to fall so heavily from a "formidable adversary".
And what makes Europeans, Americans, and Japanese willing to compete so fiercely for their place in Africa?
Why did the Americans go so far as to forgive Africa's debt to China, whose interests are so important?
And why have European countries paid little attention to this African region for 37 years?
Africa Debt Crisis: China's Collective Guarantee of Huge Debt.
In 1978, two years after Somali rulers on the continent's lonely planet went to coastline Turkey with money, Somalia announced that it could not repay its long-overdue debts.
As a result, the credibility of Somalia has diminished internationally and there is no longer a willingness to lend them money.
Somalia has lost its debt and has overdrawn $600 million in debt.
The news quickly spread across the continent, and African countries feared that they too would fall into a debt crisis, so in 1979 a historic meeting was convened at the Bandung Summit.
The focus of the meeting was on Africa's development issues.
At the Bandung Summit, African countries found a solution to the debt crisis, and African countries as a whole guaranteed each other with their debts, so that all African countries could not only get rid of external forces in economic development, but also get rid of the influence of the international financial market on them.
But in this way, each African country becomes a guarantor for another country, and if any one country is unable to repay its debts, then the guarantor of that country has to pay the debts for them.
In this way, the continent's debt is concentrated in several African countries, and if the guarantor is an African country, then the country falls into a debt crisis.
African countries also have their own development plans, so they announce that they will no longer apply for loans, believing that their debt is enough and they no longer need to borrow.
Without borrowing, there is no economic development on the continent because they are not self-sufficient, and in many areas the infrastructure is falling behind because of lack of savings, so large numbers of people flock to richer countries in search of a better life.
In 1997, the two Congolese became more and more difficult to cope with due to the increasing external pressure, so in 1997, the two Congos united as one country.
However, the external debt has not been alleviated with internal reunification, and by 1996 the two Congos had an external debt of $31 billion.
The United States forgives China's debts to African countries.
At that time, China was in the stage of the "Cultural Revolution", which made people sit and eat nothing.
And before they didn't have the superb financial concept of Westerners, they thought, this "huge China" has so much money, if you don't borrow some quickly, how can you pay it back if the money is depreciated?
The current China is no longer the China it used to be, and Grandpa Mao has already "woken up" and will not let China continue to borrow money so endlessly.
However, under the rule of Grandpa Mao, these endless borrowing of money still happened.
China's debt to Africa has been three times as much as China has lent out.
These creditors found that China's expansion was a bit slow, so they came to urge the indebted African countries to repay the money faster.
African countries have been run on by everyone, but as developing countries, they themselves are as poor as China, so African countries have begun to default on their debts to China.
China also did not pursue the debt problem, because at that time, Western countries, as well as Japan and other international forces were still lending to African countries, so China was worried that its own territory of influence would be robbed by others, so it asked guarantors to reduce the debts of African countries.
China's own financial situation is still very good, but this does not mean that China has abundant financial space, so China has provided certain financial subsidies to these guarantors, but only to those countries that are indebted, which has also reduced China's financial assistance to African countries, but China has gained the loyalty of African countries.
In 2015, U.S. President Barack Obama announced increased aid to Africa.
Rich countries tend to help African countries more and more influence on Africa, so European and American countries are competing with each other to provide assistance to African countries, and this kind of assistance can easily become help against China.
The U.S. announced that it would no longer pursue the debts of African countries, which relieved the guarantors of various African countries.
European and American countries and China.
The United States is very angry at China's move, and the United States has asked various countries to pull China down from the altar, so in 2017, many European and American countries spontaneously reduced the debts of African countries, but China did not give up the debt relief of African countries this time, but provided financial assistance to these countries.
China's behavior has made many European and American countries ridicule, saying that China is not directing and acting on its own, leaving European and American countries behind, but China says that these are their national obligations, not to compete for this "first".
Many European countries have not taken China's words to heart, and they are also very aware of China's ambitions, and what China has done this time is very unreassuring, and it will be troublesome if China does not string together any of these debt-relief countries.
So they put on a set of insurance clauses one after another, and this time, China did not escape, although they did not find out China, but China also knows how difficult it is.
epilogue
Africa is now a "big business country", they provide a lot of resources to the outside world, and they also need a lot of development help from the outside, the African continent is so important, it will inevitably make everyone salivate, after all, it is up to people to make things happen, and it is up to heaven to make things happen.
Either way, they must not forget that China, which has brought them out of debt crisis, must say a word about the secrecy that China and other countries have done.