Angola is heavily dependent on oil, with China by far the biggest buyer. Photo: Reuters
Angola is heavily dependent on oil, with China by far the biggest buyer. Photo: Reuters

Why Angola struggles to shake off its economic dependence on China

  • The country is heavily indebted and relies on oil exports to China to pay off its loans – a strategy that has left it vulnerable to falling oil prices
  • The government has been trying to diversify the economy and renegotiate debts, but for now it needs Beijing’s support

Topic |   Belt and Road Initiative
Angola is heavily dependent on oil, with China by far the biggest buyer. Photo: Reuters
Angola is heavily dependent on oil, with China by far the biggest buyer. Photo: Reuters
READ FULL ARTICLE