Previously posted on my Facebook page. Not updated.
NEWS: “Anti-U.N. Protests in Congo Leave 15 Dead, Including 3 Peacekeepers.” And adds: “Demonstrators have accused international forces of failing to deter armed groups responsible for a wave of deadly attacks.” Mayhem seems to shroud Africa the most these days. Congo is no different. Too bad for its 90 million, who are hungry, poor, and beleaguered by nonstop violence and ailment.
Yet the fact/s: DRC could be the world’s richest country when it comes to natural resources, with massive untapped deposits of minerals including cobalt, copper, diamonds and gold amounting to approximately $24 trillion. Add ample coltan, zinc, tin, and tungsten. Congo also possesses extensive rainforest reserves and boasts one of the highest hydroelectric power capacities in Africa and globally.
Other chief industries are consumer products (including textiles, plastics, footwear, cigarettes, processed foods, beverages), metal products, lumber, cement, and commercial ship repair. Sadly, most people in DRC have not benefited from this wealth.
The DRC's main trading partners are the European Union, chiefly Belgium and France, followed by China, South Africa and the United States. 🇨🇩🇨🇩🇨🇩
GDP growth rate rebounded from 1.7 percent last year to 6.2 percent this year, which is well above the 4.5 percent rate in sub-Saharan Africa. To cash in on this trend, Congo’s leadership has to stop the violence, which exacerbates the not so good 5.4 percent unemployment rate.
What confounds me is—why despite DRC’s rich promise of economic goodness, the country doesn’t attract U.S. investments. After a peak in 2014, foreign direct investment (FDI) in Africa from the United States dropped to $44.81 billion in 2020, yet it slightly picked up in 2021. Africa receives lower FDI inflows than any other region, although China seems interested in putting in some money.
As ever, Washington’s interest in Africa is political rather than economic. Yet relations with Congo have always been shaky since the country’s most radical Congolese-Marxist period, 1965–77. The U.S. Embassy reopened in 1977 with the restoration of relations, which remained distant until the end of the socialist era.
The most that the U.S. could do is a recent additional aid of $13 million, in addition to its current election support of $10.65 million, to support transparent, credible, and inclusive political processes in the country. That amount is simply spare change to what other allies get, which are in the billion$ range. 🇨🇩🇨🇩🇨🇩
THE United States doesn’t care much though. But China is. (Remember, Beijing’s only overseas military base is in Africa, in Djibouti).
During the souring of U.S./Congo relations due primarily to the latter’s socialist leanings then, China quietly entered. Diplomatic and economic relations started in 1971, although ties go back to 1887, Congo Free State established contacts with the Qing dynasty then ruling China.
The DRC upholds the One-China policy, as it recognizes the PRC as the sole legitimate government of China rather than the ROC/Taiwan.
In the 21st century, Chinese investment in the DRC and Congolese exports to China have grown rapidly. The DRC joined the Belt and Road Initiative in 2021. That year, the two countries sat down to talk about a $6 billion deal that’d allow a consortium of Chinese companies to invest in mining and infrastructure projects in DRC.
In 2000, a Sino-Congolese telecommunications company (China-Congo Telecom) was set up. Trade between China and the DRC greatly increased between 2002 and 2008. This is largely due to massive growth in the DRC's exports of raw materials to China, especially cobalt, copper ore and hardwoods.
What concerns the U.S., of course, is China’s commitment in providing assistance for Congo’s military. That’d be another story. 🇨🇩🇨🇩🇨🇩
