China: Africa’s Debt Problems Due to “Dollar Hegemony”

Chinese Foreign Ministry Spokesperson Mao Ning referenced "dollar hegemony" for the first time on Friday in the context of Africa's worsening debt crisis. Image via the Chinese Ministry of Foreign Affairs.

The Chinese Ministry of Foreign Affairs introduced a new talking point aimed at countering accusations by U.S. legislators and other stakeholders that Beijing engages in predatory lending in Africa.

For the first time on Friday, the Ministry referenced “dollar hegemony” as the primary reason for the worsening debt situation in many African countries.

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by Eric Olander

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