Day: January 8, 2024

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COSCO Halts Shipments to Israel in Response to Red Sea Attacks, Chinese Diplomats Renew Calls for Ceasefire

China's state-owned shipping giant COSCO will halt all operations in-and-out of Israel in response to the worsening security situation in the Red Seas, according to Israeli news site Globes. Sunday's announcement by the company is a major setback for the ...

Europe-Asia Shipping Costs Surge Due to Houthi Attacks in the Red Sea

The cost of shipping a standard 40-foot container from Asia to northern Europe now costs around $4,000, a whopping 173% increase from just a few weeks ago. Average freight costs from the rest of Europe to/from China have gone up almost ...

3 Reasons Why China Didn’t Join the U.S.-Led Coalition to Counter Houthi Attacks in the Red Sea

There was some dismay/confusion in the U.S. and Europe when China opted not to join the multinational coalition to combat Houthi attacks in the Red Sea. A lot of Western analysts supposed, incorrectly, that it would be in China's economic ...

The BRICS Got Bigger in 2024 But Not as Big As Expected

Five new countries joined the BRICS bloc at the beginning of the year, marking a dramatic expansion for the fourteen-year old group. With the admission on January 1 of Saudi Arabia, UAE, Iran, Ethiopia, and Egypt, the loosely-formed group is now ...

Beijing Leans Into Ties With Myanmar’s Military Government as Ethnic Rebels Capture More Territory Near Chinese Border

Senior Chinese officials wrapped up a series of high-level talks with the leadership in Myanmar over the weekend amid a worsening insurgency that is now spilling over the border into China. Chinese Vice Foreign Minister Sun Weidong concluded a three-day ...

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 ...