It took just 10 years for Chinese companies to pull Western contractors from the market for the construction of Africa’s largest infrastructure projects. According to a newspaper published in Hong Kong South China Morning Post (SCMP).
The newspaper states that 80% of the construction projects in Africa in the 90s were done by Western companies. Their share in infrastructure construction on the continent has gradually decreased, but in 2013 they accounted for about 37% of the market, with China about 12%. But since Beijing’s One Belt, One Road project emerged in 2013, Chinese companies have quickly captured a significant portion of the market.
Thus, in 2022, Chinese contractors won 31% of contracts for the construction of the largest infrastructure facilities in Africa. At the same time, the share of companies from Western countries decreased to 12%.
Currently, Beijing has launched several major infrastructure projects worth several billion dollars in Africa. China has become the largest trading partner of African countries. In 2021, China’s trade with the African continent was $250 billion, while the US trade with Africa was only $62 billion.
The publication states that in the last two years, China’s total infrastructure projects in sub-Saharan Africa have reached $155 billion, while in 2021 direct American investment in this region was only $44.8 billion.
Previously in Beijing declarationChina’s non-interference in the internal affairs of African countries.
previously in the USA declarationChina’s military achievements in space are breathtaking.