Best ally of Ethiopia, China worried about Ethiopia news report says
Tigrai Online, Sept. 1, 2018
According to an article published by Reuters titled “Trains delayed Ethiopia debt woes curtail China funding”, the Chinese Export and Credit Insurance Corp was reducing the scale of its investment in Ethiopia.
The report said Chinese investment in Ethiopia was slowing down and that the China Export and Credit Insurance is decreasing its investment in Ethiopia. That is really bad news for the Ethiopian market considering the Chinese had been pouring billions of dollars in low interest loans their companies investing even more in key Ethiopian economic sectors.
It seems the government of China is worried about Ethiopian relationship with Djibouti especially how Prime Minister Abiy Ahmed has been sidelining the key port of Djibouti after Ethiopia spent billions to build state of the art railway connecting Addis Ababa to the port of Djibouti. China was counting in the excellent relationship Ethiopia had with Djibouti, but lately the relationship between the two countries has become sour because citizens of Djibouti were attacked in Dire Dawa and Ethiopians were attacked in retaliation in Djibouti.
“The sustainability of the projects is weak,” Zhao Lei, a professor at the Central Party School in Beijing, wrote in the party-run Guangming Daily in June, pointing to a Chinese-funded light railway around the capital Addis Ababa and the Ethiopia-Djibouti rail project, Reuters said.
Economically, politically, socially and in overall Ethiopia is going downhill after Abiy became prime minister of Ethiopia.