Xi Jinping Pledges $51B To Africa, Fails To Entice Taiwan's Lone African Ally As Eswatini Skips China's Summit

Chinese President Xi Jinping has pledged nearly $51 billion in funding to Africa at a grand banquet held for African leaders. However, Eswatini, Taiwan’s last remaining diplomatic ally in Africa, was notably absent from the event.

What Happened: The Forum on China-Africa Cooperation, a crucial part of China’s diplomatic outreach to Africa, did not see the participation of Eswatini, Bloomberg reported on Thursday. The small, landlocked nation is the last African country to resist Beijing’s ongoing mission to diplomatically isolate Taiwan. Despite its diplomatic alliance with Taiwan, Eswatini’s largest source of imports, after South Africa, is China.

This week, in stark contrast to the grandeur of the Beijing summit, Eswatini’s monarch inaugurated a Taiwanese pavilion at a local trade fair.

At the summit, Reuters reported that Xi pledged to increase Chinese support to Africa, the world’s second fastest-growing continent, through funding, infrastructure initiatives, and the creation of at least 1 million jobs. Eswatini, however, was excluded from these plans.

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Why It Matters: Taiwan has received official recognition from 12 nations including Eswatini, as of 2024.

China’s pledge comes at a time when the country is increasingly coming closer to the largest continent amid geopolitical tensions. Chinese electric vehicle manufacturers have been exploring Africa as a potential market amid increased tariffs imposed by the European Union and the U.S.

There has also been an increased competition between the U.S. and China in Africa’s strategic mineral supply chains.

Meanwhile, Taiwan’s efforts to bolster its defense capabilities have been lauded by the U.S.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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