Politico | Ethiopia plays Europe off China in bid to boost investment
- Effort to attract European money is part of prime minister’s push to modernise economy and reduce debt, analysts say
- ‘Without China, not much would happen around here,’ says an Ethiopian food seller
This story is published in a content partnership with POLITICO. It was originally reported by Simon Marks on politico.com on February 3, 2020.
Located deep in Addis Ababa’s commercial centre, the soon-to-be-finished structure towers some 40 metres (131 feet) above the ground and will have a capacity of 62,000 people.
“China is building this city from the ground up,” said Welibuw, a local food seller in the area around the stadium. “Without China, not much would happen around here.”
The roughly US$160 million construction project is one of many highly visible, Beijing-backed mega-projects – from hydropower dams to skyscrapers – that have helped make China Ethiopia’s largest trading partner.
But recently, efforts by Ethiopia’s firebrand prime minister, Abiy Ahmed, to modernise the economy, privatise state-owned companies and reduce the country’s debt burden are shifting the power dynamics in the country.