Chinese President Xi Jinping speaking at a Belt and Road conference in Beijing on November 19, 2022. Image via Xinhua.
China’s Belt and Road financing and investments fell in the first half of the year, with no new spending in Russia, Sri Lanka, and Egypt, according to a study by the Green Finance & Development Center in Shanghai. Financing and investments were at $28.4 billion in the first six months, compared with $29.4 billion in the same period a year earlier, according to the center, which is affiliated with Fudan University. The first-half figures were 40% lower compared with the same period in 2019, it said. (BLOOMBERG)
The food crisis in the Horn of Africa is the latest front in the U.S.-China rivalry with officials from both sides throwing shade at one another for not doing enough. Over the weekend, China said that emergency food shipments are either on the way or will soon be shipped to four countries in the region. The shipments follow criticism from USAID Administrator Samantha Power who singled out China for not providing relief. Beijing angrily denounced Power’s accusation and implied that it is the U.S. “who is causing the global food crisis.” (@WUPENG_MFACHINA)
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