A bill currently under consideration in New York State could reshape sovereign debt renegotiations around the world by making private creditors accept the same losses as the U.S. government would as a sovereign creditor instead of holding out for a full payback.
The bill comes as countries like Zambia and Sri Lanka face their loan renegotiations being dragged out for years as U.S.-based private lenders stonewall to obtain better deals. 52% of the ...
Category: Economy
Proposed New York Law Could Reshape Debt Negotiations Around the World
A bill currently under consideration in New York State could reshape sovereign debt renegotiations around the world by making private creditors accept the same losses as the U.S. government would as a sovereign creditor instead of holding out for a full payback.
Southeast Asia’s Climate Goals Are Ultimately Economic Goals: U.S. Vows to Help, But China Delivers
Two weeks ago, Indonesian President Joko “Jokowi” Widodo and his ministers received a visit from the U.S.-ASEAN Business Council (U.S.-ABC). Green industries — particularly electric vehicles — were at the top of Indonesia’s talking points. “How can Indonesia get facilities to ...
Analysis from Cobus van Staden
Proposed New York Law Could Reshape Debt Negotiations Around the World
WEEK IN REVIEW: Xiomara Castro, President of Honduras, to Travel to China for First Visit Since Switch of Diplomatic Relations From Taiwan
Xiomara Castro, the president of Honduras, will travel to Beijing this week for her first visit to China since her government switched diplomatic relations from Taiwan to the People’s Republic. Coffee trade is expected to be on the agenda and she will reportedly sign several (as-yet undefined) cooperation ...
Whatever Happened to China’s South-South Climate Cooperation Fund? The Answer is “Unclear”
During a meeting with U.S. President Barack Obama in 2015, Chinese President Xi Jinping committed to providing 20 billion yuan ($3.1 billion) to help developing countries tackle climate change. Notably, this commitment didn’t contain a timeline. Now, with the promise to ...
Trend to Watch: More Hunan Cities Launch Commercial Diplomacy Initiatives in Africa
Representatives from 50 African countries are expected to participate in the upcoming China-Africa Trade Expo that will take place for the third time in the central Chinese province of Hunan beginning on June 29th. The expo serves as an important showcase for ...
Why African Immigrants Won’t Help Offset China’s Declining Population
China, like other large northeast Asian industrial economies, is facing a rapidly declining population that threatens its long-term economic growth. The fundamental problem is that there aren't enough younger working-age people to support a ballooning population of retirees who often require ...
If You Lead a Developing Country and Want to Borrow Money From China, Then Listen to This Podcast
The days of China easily handing out billions of dollars to build infrastructure in developing countries around the world are now over. The Chinese can't afford it anymore and many of the borrowing countries just don't have the capacity to take ...
How Chinese Distant Fishing Is Wrecking Coastal Economies
China’s distant fishing fleet is increasingly affecting coastal economies throughout the Global South. With an estimated 17,000 vessels, China has the world’s largest distant fishing fleet. They operate in a legal grey zone, hauling thousands of tons of sea creatures from international ...
Prioritizing Socio-Ecological Protections: Study Shows Deregulation Doesn’t Attract Chinese Investment
By Christina Duran In a March 2023 synthetic report, the Intergovernmental Panel on Climate Change (IPCC) emphasized that Central and South America face adverse impacts from increased climate damage “without rapid, deep and sustained mitigation and accelerated adaptation action,” which ...
Report: China is Top Source of Development Finance to Southeast Asia, but Competitors Rapidly Catching Up
China remained Southeast Asia's largest source of aid and development finance even as competitors from G7 countries step up their engagement in this geopolitically strategic region, according to the findings from a new data project done by the Australian think tank Lowy Institute.
Economy Minister Sergio Massa Leads Argentina’s Pivot to China, Racking Up Some Big Wins During Recent Visit
Argentinian Economy Minister Sergio Massa wrapped up a near-week-long visit to China on Saturday. Early indications are that it was an enormously successful trip. Massa arrived in Beijing last week with a long list of things he needed to get done to ...
Chinese Battery Major Gotion Poised to Build Africa’s First Gigafactory in Morocco
The Sino-German electric vehicle battery major Gotion High-Tech is planning to build a massive new factory in Morocco that would produce electric car batteries and energy storage systems. The company signed an MOU with the Moroccan government last week in Rabat for a ...