A lawmaker from Kenya’s ruling party has proposed limiting foreign involvement in public contracts after what he said was an outcry about an influx of Chinese businesses driving out local companies.
China has become Kenya’s biggest trading partner, accounting for 17 percent of the East African nation’s annual trade by value or more than $4 billion, heavily tilted in China’s favor.
That imbalance, together with growing Kenyan borrowing from China which is estimated at 21 percent of Kenya’s total public debt of $24.67 billion, has started to ruffle feathers among Kenyans.
According to Reuters, a recent wave of Chinese investments in real estate, retail and road construction sectors has further added to the unease.
Taiwan National Day Celebration
