Félix Tshisekedi, the president of the Democratic Republic of Congo, left for a trip to Beijing last week amid sky-high expectations of both new deals and the significant reworking of current agreements widely seen in his country as favoring Chinese actors. None of this happened.
Instead, he returned with a fistful of non-binding MoUs to widespread dissatisfaction back home. Since then, DRC officials have worked overtime to try and spin the trip as a longer-term ...
Day: February 9, 2022
You’ve Heard of the Brady Plan, But What About the “Shanghai Plan” to Restructure Developing World Debt?
This week's revelation from the AfDB that Africa's total public debt now stands at $546 billion, more than all of the revenue collected in 2021 by governments across the continent, is the latest indication that the debt issue is blooming into a full-blown crisis ...
China Risks Repeating Debt Restructuring Mistakes of the Past Say Research Trio “HRT”
Chinese creditors' obsession with secrecy and their outright refusal to cancel debts held by low-income countries will undermine the chances of success of any major sovereign debt restructuring initiative, argue World Bank economists Sebastian Horn and Carmen Reinhart along with University of Kiel economist Christoph Trebesch.
Almost 2/3 of Africa’s Exports to China Last Year Came From Just Three Countries
The highly distorted nature of China-Africa trade in 2021 was the subject of a series of compelling charts and infographics published on Tuesday by the online financial news site Quartz. African exports, in particular, stood out. Only three ...
With An Eye on China, EU Chief Says Europe is Africa’s “Most Reliable Partner”
European Commission President Ursula von der Leyen (photo) will arrive in Dakar on Wednesday for a quick trip before next week's Europe-Africa summit. One of the key highlights of her visit will be to unveil some of the first projects selected as part of the new Global Gateway ...
Somaliland FM Pitches “Huge” Oil and Gas Potential to Taiwan President Tsai Ing-wen
Somaliland Foreign Minister Esse Kayd on Wednesday began a five-day tour of Taiwan at the Presidential Office Building in Taipei, where he met with President Tsai Ing-wen. Kayd was especially keen to extol the potential for Taiwanese companies ...
Analysis from Cobus van Staden
DRC Government Tries to Reframe Underwhelming Beijing Visit
Lithium Follows Cobalt’s Lead With New Record Production Output
The surging demand for electric vehicles in China, the U.S., and Europe is powering new demand for lithium, a key ingredient used to make EV batteries. Global mined lithium production hit a record high in 2021 of 100,000 tonnes (excluding the ...
Meet Nigeria’s First Female Train Conductor (Who Also Happens to be Fluent in Mandarin)
The state-owned China Civil Engineering Construction Corporation (CCECC) that built the new Lagos-to-Ibadan standard gauge railway in Nigeria, published a cute corporate video recently that showcased the country's first female train conductor. Introduced only by her Chinese name Bai Yang, she ...