...Loans from China typically carry different terms than World Bank loans. In the case of China’s involvement in Africa, Robert Rotberg, editor of the book China into Africa, says, “China loans [are] in exchange for resources, which its companies extract themselves using Chinese labor, so in essence it’s fake lending.
The Chinese rarely expect those loans to be paid back.” According to a paper published by David Mitchell of the Center for Strategic and International Studies, China canceled $1.2 billion in debt from 31 African countries in 2000 and added another $750 million in debt forgiveness in 2003