Day: January 18, 2022
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Will China and Wealthy Countries Pay For Climate Damage in the Global South?
Join us for a very lively end-of-week show where Eric, Cobus, and Geraud get into a spirited debate over whether China, India, and wealthy countries will pay for the damage they've caused to poor countries in Africa and elsewhere from global ...
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WEEK IN REVIEW: The G77 Bloc of Countries Together With China To Propose a New “Loss and Damage” Fund at the COP27 Summit
The G77 bloc of countries together with China is reportedly going to propose a new "loss and damage" fund at the COP27 summit to provide finance to poor countries impacted by climate disasters. The fund appears to be a repackaged version of the failed "climate adaptation fund" that wealthy ...
Undercutting the Amazon? Deregulation in the Wake of South America’s Chinese Investment Boom
By Rebecca Ray As Brazilians head to the polls at the end of this month for a presidential runoff between current President Jair Bolsonaro and former President Luiz Inácio Lula da Silva, one of the many issues on the table is management of the Amazon rainforest. ...
Kenyan Government Finds Irregularities in Chinese ICT Loan Audit
The Kenyan government can’t account for about $83 million dollars earmarked for a Chinese-funded National Optic Fiber Backbone Infrastructure (NOFBI) project, according to a new report by the country’s Auditor-General. The A-G says some loan documents for the $175 million tender are missing, with ...
Kenya’s Cabinet Secretary Nominee Pushes Back Against Default Allegations
“We should not be a country that should walk into the defaulting mode,” says Musadia Mudavadi, a nominee to become Kenya’s new Cabinet Secretary. Mudavadi committed himself to meet Kenya’s obligations amid allegations that Nairobi defaulted on repayments for its Standard Gauge ...
File image of the Coca Codo Sinclair dam in Ecuador that was financed and built by China. Image via amalavida.tv CC BY 2.0
By Julie Radomski Ten years after the Coca Codo Sinclair hydroelectric dam first came online, the Chinese state-owned construction company Sinohydro Corporation finally turned the project over to the Ecuadorian state last Friday. Yet Ecuador only agreed to accept it under the condition that ...
China’s Total Global Trade Passed $6 Trillion For The First Time Last Year With Africa’s Share Set to Remain At Around 4%
For the first time, China's external trade in 2021 surpassed $6 trillion in a single year, up 21% compared to the previous year, according to new data from the General Administration of Customs (GAC) released on Friday. Last year's ...
Ghana Tries to Defend Itself Against Debt Critics
The Ghanaian Finance Ministry is angrily refuting recent reports by Bloomberg News reflecting the increasingly widespread perception in the global financial community that the country is now over-extended and facing debt distress. 'There are some serious factual errors in the article, ...
If You’re Going to Criticize China For Its Lending Practices, Make Sure to At Least Get Your Facts Right
The central bank in Sri Lanka will make a $500 million payment on Tuesday to bondholders, the first tranche of $4.5 billion in debt servicing obligations that Colombo is due to pay this year. The South Asian island state ...
China and the Burgeoning Debt Crisis in Africa
With more than 20 African countries now approaching or confronting debt distress, according to the IMF, a trio of scholars at the London-based international affairs think tank Chatham House mapped out what they think needs to be done to address the situation.
Meet the CityBug: The Newest Chinese-made EV to Go On Sale In South Africa
South Africa lags far behind other middle-income countries in the availability of electric vehicles but Chinese brands like Eleksa are hoping to change with the introduction of new cars like the $15,000 Citybug. The two-door compact seats four and has a ...
Chinese Auto Majors See South Africa as a Key Market to Compete Head-On With Global Rivals
South Africa's intensely competitive car market may provide a glimpse into the future of global automotive trade with Chinese brands successfully competing with rivals from the U.S., Germany, Japan, and South Korea. In fact, SA is one of the only markets in the world where a Chinese ...
6 Chinese Nationals Arrested in Kenyan Crackdown on Illegal Immigration
Kenyan immigration arrested six Chinese nationals last week as part of a broader crackdown against foreigners illegally living and working in the country. The six range in age between 25 and 30 years old, and were detained after authorities received a local tip.
Two Robbers Promptly Arrested After Attempting to Break Into Chinese UN Peacekeeping Base in the DRC
Two suspected robbers were quickly arrested after they scaled the security fence surrounding a Chinese UN peacekeeping base in the South Kivu city of Bukavu in the eastern Democratic Republic of the Congo. The incident took place last Thursday when the ...
From British Cotton to Zanzibar Pepper — The Promise of Huge Fortunes From the China Market is Still Alluring
Centuries ago early British imperialists recognized the vast potential of the China market. They fantasized that if every Chinese man added just one inch to their shirts, it would have the cotton mills of Manchester spinning for decades. That dream of ...