Why China Dominates Mega Projects In Africa Despite Debt-Trap Concern
China's Rush Into Africa, Explained : Why China Dominates Mega Projects In Africa Despite Debt-Trap Concern - Amid claims of debt-trap diplomacy by China, Chinese firms are winning the bulk of mega projects in Africa and accounting for a significant portion of all big foreign contractors' revenue on the continent. According to Hong Zhang, a researcher at George Mason University's Schar School of Policy and Government in West Virginia, in an interview with South China Morning Post, Chinese construction and engineering contractors "have attained a dominant position in the African market" and are winning larger-scale or technically more demanding projects that domestic contractors are unable to complete.
As the continent becomes one of the final frontiers of the fourth industrial revolution, Africa has become the world's fastest urbanizing region, with rural migrants moving into cities at a rate that has even eclipsed that of China and India. This rapid shift poses significant challenges, but it also presents significant opportunities for countries prepared to invest billions in an infrastructure-building revolution unlike anything the world has ever seen – and no country has responded to Africa's call very much like China.
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