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The numbers are getting bigger and bigger – the G7 countries recently pledged €600 billion in infrastructure aid to developing countries and also want to compete with the Chinese Silk Road. The trick is that a large part of the money is to be mobilized by private investors. The G7 countries themselves are contributing only a small part. But this is going rather badly, as earlier promises by the World Bank, for example, under the slogan “From Billions to Trillions” show.
In Africa, this naive fallacy has long been seen through. The West can no longer score points in Africa with vague promises, reports Katja Scherer. Many Africans increasingly see China as a good partner. The rapid implementation of projects and non-interference in human rights violations are to the People’s Republic’s advantage. If the EU really wants to counter China’s growing influence on the African continent, its Africa policy must definitely become more flexible.
A lot of change is also emerging in mobility. EVs are booming. Soon, there will be a large number of spent EV batteries that will serve as raw materials for new batteries. China is way out in front here. Chinese recycling companies are already doing well, while the market in Europe is developing slowly, reports Leonie Düngefeld. After all, investments in recycling plants are only worthwhile when there is enough material to recycle. This is where China can exploit its advantages as an early entrant into electromobility.
Nico Beckert
Feature
In Africa, the Silk Road scores well ahead of the EU initiative
Once again, they have wrested a great promise from each other. The G7 countries want to spend €600 billion to expand infrastructure in developing countries. This was recently announced at their meeting at Schloss Elmau.
The EU is at the forefront of this project. It wants to raise half of the money pledged, €100 billion more than the USA. And that’s not the only promise Brussels has recently made to poorer countries – especially in Africa. “Together we can build a more prosperous, peaceful, and sustainable future for all,” EU Commission chief Ursula von der Leyen has said repeatedly in her speeches. In February, she announced €150 billion in investments at the EU-Africa summit. The European Global Gateway initiative also has a strong focus on Africa, for example with a new submarine cable between the continents.
These efforts aim to counter China’s growing influence on the African continent. In doing so, the West relies on a simple narrative: The EU is fundamentally the better partner for Africa, European politicians and institutions repeatedly emphasize. Unlike China, the EU builds high-quality infrastructure, does not drive countries into debt, and works closely with the local population. “It is up to us to give the world a positive, strong investment impulse,” von der Leyen said at the G7 meeting. “This is how we show our partners in the developing world that they have a choice.” That this choice is not automatically pro-EU, however, is often overlooked in the West.
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