Africa too reliant on China

As African economies
increasingly favour China
while decreasing trade
with traditional markets,
analysts have warned
of reduced investor
confidence and a “huge
risk” of non-payment from
the Asian country.
Lead analyst of
credit insurer Coface,
Saijil Singh, told FTW
traditional markets
such as Europe, the
United Kingdom and
the United States were
showing increasing signs
of growth and recovery
as unemployment rates
decreased and investor
confidence rose. China’s
overdue payments, on the
other hand, are extending
past six months – a greater
likelihood of it becoming
bad debt – and corporate
tensions are high.
“Furthermore, all
statistics and information
out of the country are
unreliable which affects
investor confidence,” he
said