Day: September 21, 2023

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Tart Response in Beijing to India-Canada Dispute

China’s state-owned Global Times newspaper said the brewing conflict between India and Canada about the possible involvement of Indian actors in the assassination of a Sikh leader in British Columbia reveals “the vulnerability of the so-called value-based alliance system led by the US.”

Nepal Walks a China-India-U.S. Tightrope as Prime Minister Heads to Beijing

Nepal’s Prime Minister Pushpa Kamal Dahal (nicknamed “Prachanda”) arrives in China on Friday for the second overseas visit since he took office. His first, in June, was to India, and the choice of destinations shows the delicate balance Nepal has to strike between its giant neighbors. ...

Climate Chart of the Day: China and the U.S. Spend the Most on Fuel Subsidies

Fossil fuel subsidies in 2022 amounted to $7 trillion globally, about 7.1% of global gross domestic product. It shot up by 18.3% year on year, partly in response to the Ukraine war, according to research by the IMF. The subsidies worsen ...

Climate Change Dilemma: How Can the Global South Get Rich from Their Own Minerals?

This week, the Democratic Republic of Congo convened its inaugural DRC-Africa Battery Metals Forum in Kinshasa. Under the theme “Creating Wealth for the DRC and Africa’s Battery Metals Industry Value Chain,” the event tackles an issue that has preoccupied many Global South countries. Considering that everyone wants their minerals, ...

Chinese Lending to Africa Plunges to 20-Year Low

Chinese lending to African countries plunged to below a billion dollars in 2022, the lowest level in two decades, according to new data from the Global Development Policy Center at Boston University. The findings confirm that the era of Beijing financing ...

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 ...

West’s Delays in Financing Indonesia’s Just Energy Transition Provides New Opening for China

Indonesia decided last month to delay launching an investment plan for the $20 billion Western-sponsored climate funding, known as the Just Energy Transition Partnership (JETP). This delay shows us several things. First, the problematic nature of how our leaders are handling the issue of energy transition, and ...