Zimbabwe to make Chinese yuan legal currency after Beijing cancels debts

[Bussard Ramjet]

China on the other hand, brings it own people to work on projects, has a free run with the minerals.

not a win win for those countries.

Factually incorrect. You can look at the excellent research done by Deborah Brautigam etc. and they have proven in their research that, in Chinese projects, around 75-85% of the labor is African.

$40 billion is too high for a small country with very little trade

That $40million is only the fee for debt servicing that was maturing.

 

[oprih]

Win-win deal for both countries! With a reliable and trusted partner like China, Mugabe's "look East policy" will definitely be a success. Looks like look East policy or pivot to Asia is the new norm nowadays.

 

[applesauce]

But doing this for 40million $ debt waiver is absurd!!


Money put in by China is peanuts for it!!
Even it loses...it's literally nothin for china!

why is it absurd? you act like they are giving something up or paying to use the RMB. zimbabwe has given up on its own currency and is now using the dollars and SA rand. adding the RMB wont change much and will probably only make trade easier.