Day: March 1, 2022
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Jiang Zemin Created the Africa-China Relationship As We Know It Today
Reflections on the legacy of Jiang Zemin, China’s president from 1993 to 2003, who passed away on Wednesday, emphasized how he presided over a decade of explosive economic growth. Fewer have pointed out that he was also a key architect of China’s current relationship with Africa.
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Xi’s Third Term Will Power Up Chinese Messaging in Africa
Xi Jinping’s third term will likely see the re-energizing and reshaping of China’s external relationships after its COVID lockdown. But how will China’s political engagement with Africa evolve? In a new paper Paul Nantulya, a research associate at the ...
Zambia Hopes for Debt Deal by Q1 Next Year
The International Monetary Fund’s head of strategy, Ceyla Pazarbasioglu, will travel to Beijing next week for meetings with Chinese officials as part of a push for progress on Zambia’s debt restructuring. This comes as Zambia's Finance Minister Situmbeko Musokotwane
Djibouti Has a Very Specific Debt Problem…
Djibouti this week reportedly suspended debt repayments to its two major creditors, China and Kuwait, due to a major increase in debt servicing costs likely caused by interest rate hikes and other external factors this year. A quick gander at this table,
China’s COVID Chaos Bites South African Trade
China’s COVID-related shutdowns and protests are hitting South African businesses. The Johannesburg Chamber of Commerce and Industry (JCCI) said the disruptions compounded earlier delays on the SA side. “China is responsible for so much of the products we consume. ...
File image of a worker cleaning solar panels installed on the roof of the traditional Gedhe market in Klaten, Central Java. China’s $180 billion clean tech push is reshaping the Global South, with Indonesia a key test of who controls new green industries. (Photo: DEVI RAHMAN / AFP)
By Cobus van Staden, CGSP Head of Research Remember “no blood for oil”? Decades ago, the slogan emblematized opposition to the U.S. invasion of Iraq. Its logic subsequently shifted as the United States experienced a gas and oil revolution thanks to fracking.
China Opens Door to B3W Cooperation
Chinese Foreign Minister Wang Yi surprised commentators on Monday by saying that China might be willing to cooperate on the United States-led Build Back Better World (B3W) initiative. Wang was speaking at a ceremony commemorating the fiftieth anniversary of the Shanghai Communiqué, the Nixon-era agreement which normalized U.S.-China relations. ...
DRC Court Temporarily Halts China Molybdenum’s Control Over Massive Tenke Fungurume Cobalt Mine
A court in the Democratic Republic of Congo on Monday temporarily took away the control of the world’s second-biggest cobalt and copper mine from its Chinese owner. It appointed a temporary administrator to run the Tenke Fungurume mine for six months, sidelining the Chinese mining giant China ...
Sino-European Competition for Influence in Africa
It's only been a few weeks since the Europe-Africa summit in Brussels, EU where officials unveiled a huge €150 billion development package for Africa that aimed to convey a two-part message: 1) We're ready to engage Africa and 2) we're not going to cede further ...
How Effective is China’s Foreign Aid? The IMF Takes a Look
While China's financing to the Global South has reshaped international development, many misconceptions exist about the nature of this funding. While China is a major funder of infrastructure, experts on international development have pointed out that it is not ...
Entebbe Airport Clarification Draws Lackluster Media Response
Last December, the Daily Monitor in Uganda unleashed a firestorm with an article claiming that the Entebbe International Airport was in danger of being seized as collateral for an unpaid Chinese loan. The story was poorly-sourced and ill-informed (for example, the loan in question wasn’t out of its ...
China’s Ambassador to Zimbabwe Claps Back at Civil Society Campaign
Zimbabwe’s state-owned Sunday Mail this week published a fawning interview with the Chinese ambassador Guo Shaochun, about the current fight between Chinese companies (aligned with the embassy and Zimbabwe’s ZANU-PF government) and a consortium of civil society organizations, about the environmental and social impacts ...
The Shanghai Model: A Potential Solution for Debt Distressed Countries?
By Ying Qian At this year’s first G20 Finance Ministers and Central Bank Governors Meeting in Jakarta, Indonesia, members issued a communiqué highlighting the unevenness of the global economic recovery from the COVID-19 pandemic. Among many factors, debt distress and increased commodity ...
The China Moly Court Ruling in the DRC Shows That Tshisekedi is Still in Charge, Says Mining Expert
The decision by a commercial court in the southern DR Congo city of Lubumbashi to temporarily suspend China Molybdenum's (China Moly) management of the enormous Tenke Fungurume copper and cobalt mine (TFM) is the latest twist in an almost-year battle between the government and ...