China steps in as Zambia runs out of loan options
by Jean-Christophe Servant from Economics | The Guardian on (#4WD6X)
Southern Africa's third largest economy is a textbook example of the increasing debt facing a fast-growing continent
Zambia's capital, Lusaka, was having a power cut, so the only light in the restaurant was from Fumba Chama's mobile phone. The rapper, better known as PilAto, had just finished uploading a new track to Twitter. The bitter-sweet lyrics (in Bemba) of Yama Chinese describe the concerns of many Zambians: "They put on smart suits and fly to China to sell our country. The roads belong to China. The hotels are for the Chinese. The chicken farms are Chinese. Even the brickworks are Chinese."
Continue reading...