Today is a public holiday in South Africa – Human Rights Day. There’s a certain irony in spending the day focusing on China’s President Xi Jinping’s visit to Vladimir Putin, knee-deep in a human rights disaster.
What one makes of the Ukraine crisis increasingly maps on where one lives. This is made clear by a remarkable new set of polling data recently published by the European Council on Foreign Relations ...
Category: Finance
China Hints It May Not Back U.S. Nominee to Lead World Bank
Ajay Banga's candidacy to become the next president of the World Bank encountered turbulence when the Chinese government hinted that it would oppose his nomination. Banga spent the day in the Chinese capital on Wednesday, meeting with Finance Minister Liu Kun, ...
World Bank President Nominee in China for Critical Meetings With Finance Leaders
Ajay Banga arrived in Beijing on Wednesday for the latest stop in his worldwide job interview to become the next president of the World Bank. Banga is scheduled to meet with Chinese Finance Minister Liu Kun, various leaders from the People's ...
Analysis from Cobus van Staden
Xi Bets on Global South in Moscow
China Pushes Back at Outgoing World Bank President’s Criticism That Beijing Isn’t Doing Enough on Debt Relief
The Chinese government clapped back on Wednesday against renewed criticisms from outgoing World Bank President David Malpass that Beijing isn't moving fast enough to restructure debts in many of the world's poorest countries. Earlier this week, at a speech in New ...
World Bank Nominee Meets Head of China-led Asian Infrastructure Investment Bank
World Bank President-nominee Ajay Banga met with the head of the Chinese-led Asian Infrastructure Investment Bank (AIIB) on Wednesday during his brief trip to Beijing. The AIIB released a short statement after the meeting that said the two discussed "how the ...
Benin’s Finance Minister Meets With China Exim Bank President
Beninese Finance Minister Romuald Wadagni is in Beijing this week, where he met with China Exim Bank President Ren Shengjun. Neither side released details of the meeting, but it does highlight how China Exim Bank is continuing to engage African governments ...
IMF Head Kristalina Georgieva Will Go to Beijing in Bid to Break Debt Relief Impasse With China
International Monetary Fund Managing Director Kirstalina Georgieva will travel to China at the end of this week for a visit that will be closely watched by finance ministries throughout the Global South. The primary purpose of Georgieva's trip is to deliver keynote ...
Africa’s Role in China’s Evolving Geopolitical Priorities
It's been a momentous past two weeks for Chinese foreign policy with major a breakthrough in the Sri Lanka debt impasse and the landmark announcement that Beijing helped to broker the restoration of ties between Iran and Saudi Arabia. Meantime, China ...
India To Discourage Foreign Trade Settlement in Chinese Yuan – Sources
India has asked banks and traders to avoid using Chinese yuan to pay for Russian imports, three government officials involved in policy making and two banking sources said, because of long-running political differences with its neighbor. India, which has emerged as ...
China vs. the Multilateral Development Banks
There was a major breakthrough this week in China's months-long standoff with the World Bank, IMF and other multilateral creditors when Beijing agreed to fully back Sri Lanka's debt restructuring. The move now clears the way for Colombo to secure $2.9 ...
Rays of Hope Following China Settlement in Sri Lanka
China’s commitment to supporting Sri Lanka’s debt restructuring in line with other bilateral creditors is a major step towards securing a rescue package from the International Monetary Fund. However, it’s still unclear how negotiations will proceed, as the country suffers from food and ...
China Announces Double-Digit Budget Increase for Diplomacy
China is sharply increasing its budget for diplomacy and influence-building around the world after three years of retreat from the world stage. The announcement of a 12.2% increase follows Foreign Minister Qin Gang’s recent comment that “Chinese ...
China Unexpectedly Backs Sri Lanka Debt Plan, Clearing the Way for Desperately-needed IMF Rescue Funds
After months of delays and obfuscation, the China Exim Bank suddenly and unexpectedly reversed course this week and agreed to fully support Colombo's debt restructuring plan. President Ranil Wickremesinghe broke the news on Tuesday when he told parliament that China Exim would ...