AFRICA, A CONTINENT WITHOUT GUARANTORS: THE DIFFERENCES BETWEEN THE WESTERN AND CHINESE MODEL OF FINANCING THE DEVELOPMENT AND THE CASE OF DEMOCRATIC REPUBLIC OF CONGO

Abstract

In recent years, Africa has occupied an increasing space in the economic scenario and international political, due mainly to the high rates of economic growth in many of its countries. Clearly, China has played an important role in this new cycle. It seems undeniable that on one hand, the growing economic relationship between China and African countries is beneficial to the development of the latter. On the other hand, it is not free from controversy. In this paper, the aim is to address the visions that Western countries and multilateral financial institutions have about the economic development and, more specifically, the infrastructure financing in Africa, contrasting them with the Chinese approach. In addition, it is intended to draw potential positive and negative impacts of each approach through an analysis of the case of the Democratic Republic of Congo, which demonstrates that despite being benign, the Chinese aid to Africa is not altruistic and involves many interests both in the country and on the continent in general. In this sense, to elect as superior the Chinese or the Western funding model is not trivial. In any case, the search for a balance between Western and Chinese view seems to be the most appropriate alternative in order to advance harmoniously towards the development of Africa, respecting its sovereignty.