Be Wary of Chinese Loans, U.S warns Nigeria, Others

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 The U.S Secretary, Mr Rex W. Tillerson, has been taking a dig at china and its investment in Africa in the past few days, He said African government to be wary of Chinese government and its loan facilities. Although, he had been roundly condemned by Russian foreign minister Sergi Lavrov, who also visited Zimbabwe on Thursday.
The U.S. diplomat is also seeking smooth relations with African countries after President Donald Trump reportedly dismissed some African nations as “shithole countries” in January, a comment he later denied.
The Chinese government has pumped billions into infrastructure projects across the continent.
“We are not in any way attempting to keep Chinese “dollars” from Africa,“ he said, it is important that African countries carefully consider the terms of those agreements and not forfeit their sovereignty”
Mr. Rex W.
Tillerson, a former Exxon chief executive said that Chinese investments “do not bring significant job creation locally” and criticized how the country structures loans to African government, saying if a government accepts a Chinese loan and “gets into trouble”, it can loose control of its own infrastructure or its own resources through defaults.

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