Development Efforts: African Nation and Livelihoods Well-Being

development efforts: Taiwan immediately accused Beijing of engaging in dollar diplomacy, and taking advantage of the idyllic African nation's financial woes, according to Deutsche Welle. Although its economy is largely based on cocoa exports, its location at the heart of the oil-rich Gulf of Guinea have led to speculation it could become a hub of oil and gas production. Sao Tome has denied reports the decision came after Taipei rejected its plea for a loan. China is willing to support Sao Tome's quest for socio-economic development and efforts to improve livelihoods and well-being to the best of its ability, said Chinese Foreign Minister Wang Yi after a meeting with his Sao Tomean counterpart Urbino Botelho. We have to recognize that China plays an increasingly important role in the world, especially as a partner to promote development and its contributions protecting the interests of developing nations, adding that Sao Tome is a small, island nation, with very friendly people. Botelho partially apologized for his government having established relations with Taiwan in 1997. (news.financializer.com). As reported in the news.