• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, May 30, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Chinese economist wants strategies to tackle Africa’s economic problems

Africa

The Matters Press by The Matters Press
July 20, 2022
Reading Time: 2 mins read
0

Prof. Huang Yanghua, a teacher at the School of Applied Economics, Renmin University of China, on Tuesday urged African leaders to imbibe sustainable strategies aimed at tackling the continent’s economic challenges.

RELATED POSTS

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

Tinubu explains mission as he marks second year in office

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

Huang, who served as a research fellow at the Chinese Academy of Social Sciences, gave the advice in Beijing on the sidelines of a lecture titled: “China’s dual-circulation model: History, facts, and perspectives”, organised under the auspices of the China Africa Press Centre (CAPC) Programme 2022.

The don said, “From Chinese experience, African countries have to make targets of 20 or 30 years, have lots of nationwide discussions and debates and come up with economic consensus for the next 20 years.

“So, no matter how government administration changes and how many prime ministers or presidents come and go, each term of government must stick to the national long-term targets.

“There will be lots of achievements by means of such economic strategy.

“One president will make efforts to achieve such targets and the next president or prime minister will follow suit in that direction such that there will be no cumulative effect at once.”

He narrated the Chinese experience, saying China had many debates and discussions within the governments and came up with a consensus to chart the way forward.

According to him, where there is consensus, it should be adopted and everyone should adhere to such a policy to enable the country to tackle national economic challenges, particularly foreign debt.

“Even if you have a different opinion, once consensus is achieved you have to adhere to it.

“Maybe after 10 or 20 years you can rethink or renew the consensus, to come up with a new policy.

“So, for African countries, I think the most important thing is to have long-term targets and cooperate with other nations.

“I think the most important thing about debt management is to use debt in the right place because you have to pay back and debt should be used as capital to drive long-term growth.

“Growth will give you feedback. If the debt is not used in productive ways, such debt will accumulate,” the economist added.

He said although China acquired a lot of debt from the World Bank, the Chinese government invested most of the debt in infrastructure development.

The university teacher said China’s pro-growth investment and long-term growth plan gave feedback to the government, a thing that made debt repayment easy to encourage the World Bank to give new loans.

“These are policies the Chinese government made.

“I think the most important success of China is that the policies government made were realistic and pragmatic, aimed at solving economic problems,” he said.

No fewer than 90 Journalists from 67 countries in Africa, Middle East, Europe, Latin America, and Asia Pacific are participating in the programme, which began in June.

The programme, which is being hosted by the China Public Diplomacy Association (CPDA), is expected to end in November.

Tags: Africa
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

Tinubu explains mission as he marks second year in office

May 29, 2025
Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

May 21, 2025
Next Post
Food shortage: Nigeria bans foreigners from direct purchase of produce from farmers

How global food crisis can be addressed—Chinese envoy

IPMAN, NUPENG tango over illegal increase in petrol price

IPMAN denies involvement in fuel diversion

Recommended Stories

CAC, Pakistani investors on economic diversification

Indians in Nigeria seek more synergy for economic growth

January 26, 2022
Economists Challenge IMF on call for further VAT increase in Nigeria

Global economic growth to drop to 3.0% in 2023-24 – IMF

July 25, 2023
Make cash accessible, remove obstacles —stakeholders plead

Menace of local government’s revenue agents on highways

November 6, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling
  • Tinubu explains mission as he marks second year in office
  • Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us