Day: February 27, 2023
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China Bolsters Ties With Uruguay in a Bid to Diversify Its Economic Relations in South America
China is moving to bolster its diplomatic ties in South America in a bid to pressure one of the region's lone holdouts that still recognizes Taiwan and diversify its trade beyond the continent's major powers. Uruguayan President Luis Alberto Lacalle Pou ...
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China Sends Tough Love Message to Argentina’s President-Elect
The Chinese government is putting on a brave face in response to the election of Argentina's far-right president-elect Javier Milei who regularly denounced Beijing in the campaign and even compared China to a “murderer.” President Xi Jinping sent the usual congratulatory ...
Australia-Philippines Joint Military Patrols Begin in South China Sea Week After Similar U.S.-Philippine Patrols
Australia and the Philippines have begun joint sea and air patrols in the South China Sea amid growing tensions with China. Australian warship HMAS Toowoomba on Saturday began "Maritime Cooperative Activity" in the Exclusive Economic Zone (EEZ) of the Philippines, under a ...
China-Myanmar Ties Further Strained After Truck Convoy Torched After Crossing Border Into Myanmar
Myanmar’s beleaguered military government is accusing insurgents of torching dozens of trucks carrying goods from China, as Myanmar’s factional fighting further destabilizes the two countries’ border and strains relations. The fire on Friday in the town of Muse — recorded in ...
The Implosion of Zambia’s Debt Deal Signals Wider Worries
Delays in restructuring Zambian debt are weighing on the country’s economy and raise wider questions about the future of debt relief mechanisms around the world. Zambia appears stuck since the announcement last Monday that its committee of official creditors rejected a deal between ...
Oil storage tanks at Tsing Yi port in Hong Kong on March 17, 2026. (Photo by Peter PARKS / AFP)
China's ban on exports of diesel, gasoline and jet fuel is poised to exacerbate fuel shortages and further boost prices for Asian industry and transportation buyers already grappling with tightening supplies caused by the U.S.-Israeli war against Iran. Even before the ban, ...
It’s Time to Stop Pretending the System Still Works
In hindsight, it was foolish to think that China, the U.S., India and the Europeans were somehow going to put aside their differences to make desperately-needed compromises to help the world's poorest countries restructure their debts. We should have known this ...
Lots of Talk, Little Consensus and No Action Following G20 Debt Roundtable Discussion Among G20 Finance Ministers
The world's most powerful finance ministers, central bank heads and development finance leaders met on Saturday in Bengaluru, India for a highly-anticipated roundtable that many hoped would unblock the current impasse on debt relief for poor countries. While debt ...
U.S. Discussed Debt Issues With China While Also Hinting Beijing Uses Loans for “Coercive Leverage” in South Asia
There was a hint of optimism going into Saturday's debt roundtable organized by India, the World Bank and the IMF that the U.S. and China might be able to find some common ground. Deputy-level officials from both countries met on Friday,
Xinhua: The U.S. Deliberately Distorts Chinas’s Role in the African Debt Crisis
The burgeoning debt crisis in a growing number of African countries is increasingly seen by the Chinese government as another front in Beijing's competition with Western powers like the U.S. A recent article published earlier this month by the official Xinhua ...
When it Comes to the Global South Debt Crisis, the Chinese Message is Clear: Don’t Talk About China, Just Focus on the West
Chinese scholars and U.S. and European officials seem to follow the same playbook on debt. Both sides are highly selective in their assessment of the worsening debt crisis in developing countries by focusing disproportionate attention on opponents' role while conveniently overlooking their own contribution to the problem. ...
Gyude Moore: Future of Global Development Finance System at Risk if China Wins Stand-off With IMF, World Bank
If China is successful in its effort to force multilateral development banks (MDB) like the World Bank and the International Monetary Fund to accept the same kind of writedowns (known as 'haircuts') on loans to poor countries as other lenders, it would endanger the entire global development ...