Day: February 21, 2023

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China Unphased by Report IMF May Circumvent Beijing on Sri Lanka Debt Relief

Sri Lankan debt restructuring seems to be hitting a stalemate, judging by Monday’s Foreign Ministry press briefing. Asked about a recent Bloomberg report that the IMF is considering circumventing Chinese approval in providing a relief deal to the bankrupt country, spokesperson Wang Wenbing basically restated China’s current position.

Toxic Politics to Blame if G20’s Debt Relief Efforts Fail, Says Deborah Brautigam

Vulnerable societies like Zambia could be crushed if geopolitics are allowed to hijack debt renegotiation processes. So warns the Africa-China and debt expert Deborah Brautigam in a recent article in Foreign Affairs. The article is very useful for those following the ...

Chinese Fleet Arrives in South Africa for Controversial Joint Exercises With Russia

The 42nd Chinese naval escort fleet that includes the guided-missile destroyer Huainan and the missile frigate Rizhao arrived on Sunday in South Africa's Port of Richards Bay to participate in this week's controversial joint naval exercises with Russia. The drills, known ...

Chinese Weapons Manufacturers Take Part in UAE Arms Show

Nine Chinese arms manufacturers are taking part in the 16th International Defense Exhibition and Conference, a military technology expo in the United Arab Emirates, the first time since China’s COVID-related shutdowns. Chinese companies are showing 500 different products. They range from ...

Why China Must Partner With Global South Countries to Build a “New International System”

China should respond to pressures from the United States and its allies by building a new global system based on coalitions with Global South countries. So argues Yang Ping, the publisher and editor-in-chief of the influential magazine Beijing Cultural Review. An edited translation of ...

Analysis from Cobus van Staden

How to Lure Chinese Financing Back to the Global South: Report

Global South countries face increasing financing pressure, endangering their ability to keep developing while also implementing measures to deal with a growing climate crisis. The disruption of global trade is coupled with a larger megatrend: flows of international capital to the developing world have turned negative. This means that countries are now routinely paying more to service loans than they receive in disbursements.

The vast majority of Global South borrowers ...

Wang Huiyao on China’s ‘Misunderstood Foreign Policy’

Senior-level Chinese stakeholders often contend that one of the main reasons for today's heightened geopolitical tensions between China and the West is due to "misunderstandings" of its foreign policy objectives by outsiders. Chinese distrust is ...

Another $4 Billion on the Table? The Role of China’s Sinosure in Africa’s Debt Negotiations

By Oyintarelado Moses On February 17, 2023, the International Monetary Fund (IMF) convened a roundtable discussion on sovereign debt restructuring, bringing together creditor and debtor stakeholders involved with ongoing and upcoming debt restructurings. Leading ...