BRI and EU Investment Plan in Africa: A Critical Analysis
OBSESSION of geopolitics has once again forced the European Union (EU) to make investment in the African Continent to compete with China’s BRI.
The US sponsored and schemed China’s containment policy has now been diverted and expanded even into African countries.
In this connection, the EU’s sugar-coated so-called geo-economic shift towards Africa has actually inflated political intentions and geostrategic compulsions.
Moreover, the successful diplomatic trip of Wang Yi in the month of January 2022 has propelled “shock & awe” in the capitals of Europe and its aftershocks have even rattled Washington DC.
At the beginning of January, Morocco signed an accord with China facilitating the joint implementation of the Belt and Road Initiative (BRI), making it the first North African country to do so. More nations in Africa are closely examining the new BRI implementation plan, with a view to developing similar plans of their own.
Morocco’s geopolitical position, combined with China’s rising global influence and economic success is injecting new energy into the Global South Cooperation Framework.
In this connection, the implementation plan between Morocco and China also sends a clear signal in the face of mounting geopolitical factors, that China sees Africa as a strategic partner and key economic hub, and will compete following international laws for fair access and free trade, built on a win-win strategy.
To counter Chinese heavy economic presence and to stop spells of accession ahead of the European Union-African Union summit set to kick off on February 17 2022, the EU is reportedly working on a 20 billion-euro ($22.7 billion) financing plan to support so-called African development.
China’s BRI, a multi-billion-dollar infrastructure investment platform, has positive economic implications for developing countries of the African Continent and the EU and USA are consistently overshadowed by political and national security concerns.
Despite Western propaganda BRI is now carrying out numerous mega projects of infrastructural development, railways, energy, industrialization and ICT in various countries of Africa which are not posing any security threat to the EU and US. Thus geopolitical externalities are of secondary concern to the receiving states.
In the near past, the EU unveiled its “Global Gateway” project which is seen as a European alternative to China’s BRI.
In December 2021 the 27-member bloc announced it would mobilise up to €300 billion (US$343.5 billion) in public and private investment around the world by 2027. Working out to €60 billion a year, the funds would be used to help emerging economies heal from the coronavirus pandemic which has pushed many African countries into debt distress.
Europe is not alone in wanting to overshadow China’s BRI. The US also announced its own initiative, “Build Back Better World” (B3W), at the G7 summit in June 2021.
Now the EU announced a scheme which is the first regional plan from the European Union’s Global Gateway.
It will use funding from EU institutions and member countries to leverage private-sector investment. It will be earmarked for renewable energy, reducing the risk of natural disasters, internet access, transport, vaccine production and education in Africa.
Speaking at a press conference in the Senegalese capital Dakar, von der Leyen told reporters she was “proud” to announce plans for Africa, where the aim was to amass at least €150 billion in investment.
The EU’s website says money under the Global Gateway will be earmarked for so-called “smart, lean and secure links” in communications and transport and for boosting health, education and research. Von der Leyen, President of the powerful executive European Commission, arrived in Africa to prepare for a summit between the EU and the African Union on February 17-18.
Speaking to press before arriving in Senegal, von der Leyen warned that foreign investment in Africa too often came with “hidden costs” attached.
Most recently, China hosted the 8th Forum on China and Africa Cooperation where the “China-Africa Cooperation Vision 2035” involving $60 billion of investment was presented, as well as the “Dakar Action Plan” (2022-2024) which foresees in “at least” €9 billion worth of investment in Senegal alone.
Thus China is serious about the economic development of Africa. To conclude the EU Global Gateway (EGG) is predominately a politically motivated project which does not have any resemblance with China proposed BRI. Thus it is another failed attempt of the EU to “counter China’s reach in the Continent. Thus the pure economic concept of shared prosperity and community development is badly missing in the EU Investment plan of Africa.
According to the EU, the new Africa investment plan covers a wide array of areas, ranging from transport networks, energy, digital and education to health projects; however, EU member states “have yet to commit to financing the infrastructure plans which are urgently needed in various African countries.
Thus its economic significance is narrowed and mired with certain geopolitical goals. On the other hand, due to weak global economic prospects the EU bloc and many other countries now do not have enough surplus funds to support these projects in Africa. It seems that the real issue of the EU Africa investment plan has geopolitical motives.
It is a bitter reality that many European countries and the US all have long shamed & shamble histories in the African Continent.
France and the UK were once the two largest colonial empires in the Continent, plundering resources and ruthlessly exploiting African people. All the colonized countries of the EU have treated Africans as their personal slaves in the past.
Unfortunately, even today, colonialism is still deeply rooted in Western mentality regarding Africa, with their eyes fixated on the Continent’s resources and material. The growth of African countries and the livelihood of African people are never on the priority list of the hypocritical Western powers.
Now there is an economic competition between the Chinese concept of shared prosperity and the EU’s perpetual colonialization, Chinese economic generosity and the EU’s genocides, Chinese community development and the EU’s discrimination towards African Blacks and last but not the least Chinese spirit of cooperation and coordination and the EU’s evil spirit of conspiracy and conflicts.
