Japanese Prime Minister Warns African Countries Against Burdening THeir Countries With Too Much Chinese Debt

JAPAN

The Proverbial Gift Horse

Japanese Prime Minister Shinzo Abe cautioned African leaders against burdening their countries with too much debt at a development conference in Japan on Thursday – an implicit reference to China’s big infrastructure projects on the continent.

Abe said Tokyo is promoting “quality” infrastructure exports and investments, supported by Japan’s government-backed institutions at the latest round of the Tokyo International Conference on African Development (TICAD), according to Agence France-Presse.

“If partner countries are deeply in debt, it interferes with everyone’s efforts to enter the market,” he said.

Abe is working to boost Japan’s presence in Africa to take advantage of growth opportunities there. However, Japanese businesses remain wary of financial and security risks, while China has already built a massive presence despite criticism for importing Chinese workers, ignoring human rights and environmental concerns, and burdening countries with unsupportable debts.

Last year, for instance, China announced $60 billion in development funding for Africa, twice as much as Japan pledged at the last TICAD meeting in 2016.