Experts Doubt Benefits of China’s Zero-tariff Plan for African Economies

China’s recent decision to eliminate tariffs for goods from least developed countries (LDCs), including 33 in Africa, has drawn mixed reactions from analysts. The move, announced by President Xi Jinping at the 2024 Forum on China-Africa Cooperation, aims to boost African exports to China. However, experts remain skeptical, arguing that past China-Africa trade agreements have favored China more than the continent, oftentimes leading to local market disruptions. They also note that Africa faces significant structural challenges that hinder its ability to capitalize on such offers. The policy is also seen as Beijing’s attempt to rival US influence in Africa, particularly amid dissatisfaction with the US African Growth and Opportunity Act.

SOURCE: VOA NEWS