Why Angola struggles to shake off its economic dependence on China

Nov 8, 2021 | INVESTING

When João Lourenço was sworn in as Angolan president in 2017, there was a lot of public optimism that better days were ahead.Lourenço, a former defence minister and independence fighter, promised to curb corruption and diversify the oil-dependent economy, which for the past two decades has been bankrolled by Chinese money.But four years in, his promises have not yielded much. The economy is still struggling and is expected to remain in recession in the near term, according to the International…

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