China’s Xi promises one million jobs for Africa

Over 50 African nations gathered in Beijing this week for the Forum on China-Africa Cooperation. At the forum, Chinese President Xi Jinping promised to create over one million jobs for Africa. Additionally, Xi is pledging $51 billion in financing and his support for 30 infrastructure projects on the continent. The financial assistance will be given in yuan, which is seen as an attempt to continue internationalizing the Chinese currency. Xi also aims to coordinate development between China and Africa, creating a network of land and sea links that would “spearhead the modernization of the Global South.”