A bill currently under consideration in New York State could reshape sovereign debt renegotiations around the world by making private creditors accept the same losses as the U.S. government would as a sovereign creditor instead of holding out for a full payback.
The bill comes as countries like Zambia and Sri Lanka face their loan renegotiations being dragged out for years as U.S.-based private lenders stonewall to obtain better deals. 52% of the ...
Day: August 31, 2021
Even Amid a Pandemic, Chinese FDI in Africa Jumped Almost 10% Last Year
Chinese foreign direct investment in Africa increased by 8% in 2020 compared to the previous year, from $2.7 billion to $2.96 billion. Including the 2020 investments, the total Chinese FDI on the continent amounts to $47.4 billion, according to data in a new report published by the ...
Now That Chinese-Owned OPay Has Become Africa’s Third Tech Unicorn, the Magnitude of What Happened Last Week is Starting to Settle In
When the Chinese-owned African mobile money app OPay wrapped up a massive $400 million investment round led by Japan's Softbank and a who's who of Chinese venture capital firms, the magnitude of what happened hadn't really registered. Those investors now value ...
Chinese Vaccines Trickle Into Africa at a Slow, Steady Pace But Hardly Enough to Make a Big Impact
Chinese vaccine shipments to Africa increased by 2.4 million since last week to 56.3 million total doses delivered to date. As of this week, Africa accounts for just 8% of China's total global vaccine distribution, according to Beijing-based consultancy Bridge Beijing's latest vaccine tracker ...
China’s Ambassador to South Africa is Putting Himself in the Middle of the COVID Origin Dispute With the U.S.
China's ambassador to South Africa, Chen Xiaodong, is emerging as a key voice in the bitter dispute with the United States over the origins of COVID-19. The ambassador has steadily escalated his critiques of the U.S. for its claim that the ...
Meet Zhou Aile, An Aspiring Chinese Social Media Star From Gabon
Zhou Aile, or Paula as she's known back home in Gabon, first moved to China 13 years ago to study Mandarin. Since then, Zhou, like other ambitious young African expats, has been working hard to make a name for herself as a media personality, especially online where ...
Analysis from Cobus van Staden
Proposed New York Law Could Reshape Debt Negotiations Around the World
Africa-China Nerds, Get Ready!
Today was a landmark day for the China-Africa Project. We got to interview Wu Peng, the Director-General of the Department of African Affairs at the Chinese Foreign Ministry. Director-General Wu is China’s most senior official focusing on Africa, and it was a rare privilege to speak with ...
Can Africa Learn Anything From How China Runs Its State Companies?
As African countries work to rebuild their economies from the wreckage caused by the ongoing COVID pandemic, policymakers will be looking at what they can do to bolster their countries' state-owned enterprises (SOE). That may prompt them to examine China's model ...