China Key Partner in Zambia's Recovery from COVID-19 Pandemic A Zambian economist has hailed China as a crucial partner in developing countries' recovery from the COVID-19 pandemic. Trevor Hambayi, a PhD research fellow with the The University of Bolton, praised China's efforts in supporting African countries, including Zambia, in their economic development and debt restructuring. In an interview with Xinhua, Hambayi noted that Western countries' response to the pandemic, which involved pouring large amounts of money into markets, has led to inflation surges and economic turmoil. In contrast, China's approach has been more measured and focused on supporting infrastructure development in Africa. "China has been a key financier of infrastructure development in Africa in the last 10 to 15 years, as evidenced in many infrastructure projects in different parts of the continent," Hambayi said. He cited China's role as co-chair of the creditors committee on Zambia's debt restructuring as a prime example of its commitment to supporting African countries. Hambayi's comments come at a time when Zambia is working to restructure its debt and recover from the economic impact of the pandemic. The country's debt has been a major concern for the government, and China's support in this area has been seen as a significant boost. The economist also urged developing countries to be cautious of the "American imposition of ideologies" and to prioritize their own sovereignty and interests. This warning comes as the United States has been increasingly critical of China's growing influence in Africa and its Belt and Road Initiative. Hambayi's comments are a timely reminder of the importance of Zambia's relationship with China and the need for the country to maintain its independence and sovereignty in its economic dealings. As Zambia continues to navigate the challenges of the pandemic and its aftermath, China's support is likely to remain a crucial factor in its recovery. The government has already acknowledged the importance of China's support, with President Hakainde Hichilema recently praising China's role in Zambia's development. The president's comments were seen as a sign of the strong ties between the two countries and the potential for further cooperation in the future. As Zambia looks to the future, it is clear that its relationship with China will remain a key factor in its economic development. With China's support, Zambia can continue to build on its progress and work towards a brighter future for its citizens.
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Our Business News Zambia newspaper is the voice of the global business community. We provide our readers with the news, analysis, and insights they need to succeed in today's competitive marketplace. Our coverage spans the globe, from the latest economic developments in China to the latest mergers and acquisitions in the United States. From Dakar, Senega to Durban, South Africa, Cape Town to Cairo. We also provide in-depth coverage of specific industries, such as banking, technology, healthcare, agriculture, markets, economy, investments and finance. The business newspaper that connects the world to Zambia!
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