A globally connected network of solar and wind energy could provide three times the global energy demand by 2050 at a lower cost than independent national power systems. This is the finding of a study led by the Chinese Academy of Sciences in collaboration with researchers from the United States and Denmark.
The study focused on how areas with high solar and wind capacity (such as deserts) can be linked ...
Category: Finance
A Peer-to-Peer Pivot in China’s Overseas Development Finance
By Rebecca Ray In 2024, China extended $6.1 billion in 20 commitments in public and publicly guaranteed (PPG) loans, according to a new update to the China’s Overseas Development Finance (CODF) Database managed by the Boston University Global Development Policy ...
It’s Payback Time For a Lot of Those Chinese Loans
Borrowers in Africa and other developing regions are expected to repay $35 billion of Chinese loans this year, with two-thirds of the amount coming from the world's poorest countries. Many of these debts were taken out in the mid-2010s and are ...
China Floats Ideas for “Multipolar” Currency System to Balance U.S. Dollar
China announced several new initiatives aimed at increasing global trade in the yuan and to hedge against the dominance of the U.S. dollar. Pan Gongsheng, the governor of the People’s Bank of China, proposed a future where the global financial system would rely on several currencies.
Kenya’s FM Pushes China for Fast Approval of Financial Assistance Package
Kenya's top diplomat, Musalia Mudavadi, hoped that his visit to China this week would prompt Beijing to speed up approval of a large financial package that his government is counting on to build new roads and extend the Standard Gauge Railway (SGR) to the Ugandan border.
China Says It Could Replace U.S. Funding in Colombia
China could step in to support infrastructure projects in Colombia if the United States withdraws funding, the country’s ambassador, Zhu Jingyang, said. In mid-May, the US Bureau of Western Hemisphere Affairs said it would “strongly oppose” upcoming disbursements by the Inter-American ...
Analysis from Cobus van Staden
No More Time to Waste: The Imperative to Strengthen Global South Voice and Representation at the IMF
By Tim Hirschel-Burns and Marina Zucker-Marques The International Monetary Fund’s (IMF) governance is increasingly out of step with today’s world. While emerging market and developing economies (EMDEs), including China, account for 60 percent of global gross domestic product (GDP), they ...
The New Realities About Chinese Development Finance in Africa
Chinese overseas development finance is unrecognizable from what it was just a few years ago. After suffering tens of billions of dollars in losses, Chinese lenders have moved to de-risk their lending to countries in Africa, Asia, and across the Global ...
Xi Stresses Global South Ties During New Development Bank Meeting
Chinese President Xi Jinping emphasized China’s support for the BRICS-led New Development Bank (NDB) and called on the institution to further build ties with the Global South. Xi called the bank "a pioneering initiative for the unity and self-improvement of the Global South," and said it will strengthen ...
Xi Stresses Global South Ties During New Development Bank Meeting
Chinese President Xi Jinping emphasized China’s support for the BRICS-led New Development Bank (NDB) and called on the institution to further build ties with the Global South. Xi called the bank "a pioneering initiative for the unity and self-improvement of the Global South," and said it will strengthen ...
Xi Stresses Global South Ties During New Development Bank Meeting
Chinese President Xi Jinping emphasized China’s support for the BRICS-led New Development Bank (NDB) and called on the institution to further build ties with the Global South. Xi called the bank "a pioneering initiative for the unity and self-improvement of the Global South," and said it will strengthen ...
Trump to Gut U.S. Agency Funding Africa Infrastructure Projects: Memo
President Donald Trump's administration plans to gut a U.S. agency that has invested billions in infrastructure in Africa, ceding ground in a key area of competition with China, according to a memo. A memo, which was sent to staff and whose ...
Stanbic Bank Kenya Unveils New Measures to Boost Trade With China
Stanbic Bank Kenya, a subsidiary of Standard Bank — Africa's largest bank by assets, announced a series of initiatives aimed at fostering closer commercial ties between Kenya and China. Among the key announcements at the Chinese Economic Forum held ...