Italy has announced its formal withdrawal from the Belt and Road Initiative after joining the China-centered infrastructure and investment project in 2019.
The timing of the announcement that Rome won’t renew its BRI commitment is notable. It came only a day before the EU-China summit, which kicks off on Thursday. The summit will likely be more contentious than usual, with European leaders expected to push China on the treatment of EU firms amid discussions ...
Day: August 9, 2021
China’s Enhances Its Dominant Role in the Congolese Mining Sector With Massive New $2.5 Billion Investment
The state-owned China Molybdenum Co (aka China Moly) recently announced a massive new $2.5 billion investment in its Tenke Fungurume mine (TFM) in southeastern DR Congo that aims to double its copper and cobalt output, critical raw materials used to manufacture batteries for electric vehicles. ...
China’s Control of Strategic Resources in Places Like the DRC is Becoming a Right-Wing Media Meme in the U.S.
Conservative media outlets in the United States are using China's dominance in key strategic resource markets, particularly materials used to manufacture EV batteries, as a new vector in their partisan battle against efforts to reduce carbon emissions. Former Trump administration official ...
The DRC is Now a Major Focal Point in China’s Trade With Africa
Last week's announcement by China Moly that it will invest $2.5 billion to expand its mining operations in the DR Congo highlights the growing importance of the DRC to China's broader trade agenda in Africa. While the bulk of Africa's exports ...
Automakers Keen to Reduce Reliance on Cobalt-Powered EV Batteries
Rumors are buzzing within the Chinese auto industry that Tesla is trying for the first time to produce a car without a cobalt-powered battery. Tesla is reportedly considering the use of Chinese EV giant BYD's LFP (Lithium iron phosphate) Blade battery. ...
Mounting Anger in the DRC Following New Videos of Apparent Illegal Chinese Mining
For the past several weeks, there's been a noticeable increase in the number of videos and photos published on Congolese social media channels fuelling mounting public anger over Chinese labor and environmental practices in the mining sector. Two videos, in particular, ...
Analysis from Cobus van Staden
Awkward Timing as Italy Withdraws from BRI
President Edgar Lungu Commissions New Chinese-Built Airport As Part of a Last-Minute Campaign Push
Zambian President Edgar Lungu, currently in the final leg of a bitterly contested election campaign, did what politicians love best: cutting a ribbon to inaugurate new infrastructure. The President last week landed at the brand new Chinese-financed and built ...
Kenya Fisheries Minister: No Ban on Chinese Fish Imports
For the second time in three years, Kenya has walked back a threat to ban fish imported from China. Fisheries Cabinet Secretary Peter Munya (photo) said late last week that Nairobi would not move forward with a proposed bill in the National Assembly that sought to restrict ...
Rwandan Trade Industry Leaders Urges Businesses To Look Beyond China To Source Imports
Severe shipping disruptions brought on the COVID-19 pandemic have resulted in much higher import costs in Rwanda, especially from China, prompting one industry official to urge businesses to find alternate suppliers. The 10% increase in Chinese imported goods is brought on ...
Africa’s Largest Bank Is Positioning Itself as a Turn-Key China-Africa Trade Agent
Standard Bank's Zambian unit wants farmers to know they're a one-stop-shop to import equipment and other agricultural materials from China. Stanbic Bank Zambia, more than almost any other major financial institution on the continent, is working to position ...