With U.S.-South Africa ties in the deep freeze, it was notable to see the sheer size of the U.S. delegation sent to this week’s Mining Indaba in Cape Town – one of the most prominent industry gatherings and one of the few where the Global South gets a prominent voice.
The Trump administration’s famous Afrophobia seems (momentarily at least) tempered by its greed for minerals. It is reportedly walking ...
Category: Finance
The Development Finance Corporation and the U.S.-China Competition in the Global South
When the U.S. Development Finance Corporation (DFC) was launched in 2019, a big part of its mandate from Congress was to counter China's Belt and Road Initiative. That sentiment was a key theme on Capitol Hill late last year during the ...
China’s Evolving Lending Footprint in Africa: Selective Engagement and Strategic Retooling
By Mengdi Yue and Yiyuan Qi Chinese loans to Africa are down once again, but not out. Boston University Global Development Policy Center’s newly updated Chinese Loans to Africa (CLA) Database shows that, despite a slight rise in 2023, Chinese ...
China’s Africa Lending Nearly Halved in 2024, Shifts to Yuan
By Colleen Goko Chinese lending to Africa nearly halved to $2.1 billion in 2024, the first annual decline since the COVID-19 pandemic, as the country shifts to selective, strategic projects, according to data released on Wednesday by Boston University. ...
India’s Central Bank Proposes Linking BRICS’ Digital Currencies, Sources Say
By Jaspreet Kalra and Nikunj Ohri India's central bank has proposed that BRICS countries link their official digital currencies to make cross-border trade and tourism payments easier, two sources said, which could reduce reliance on the U.S. dollar as geopolitical tensions ...
Constructive Responses to Net Negative Transfers: What Next for China’s Financial Relationship With Low-Income Countries
By Rebecca Ray In the last few years, China’s net debt transfers (new disbursements minus repayments) to low-income countries have turned negative. This trend means that poor countries are now repaying China more each year for past years’ lending than they ...
Analysis from Cobus van Staden
China’s Trade Surplus Tops $1 Trillion Despite Plunge in US-Bound Exports
By Peter Catterall China's towering annual trade surplus surpassed $1 trillion for the first time last month, data showed Monday, as a sharp drop in shipments to the United States was offset by surging exports to other major markets.
China Kicks off Program to Import More Foreign Goods
China on Tuesday launched a programme to encourage its citizens to buy more imports, as Beijing pushes a long-term plan to turn the country into a major consumer nation. Premier Li Qiang and Commerce Minister Wang Wentao announced the start of ...
China’s Evolution from “Rules Taker” to “Rules Maker” in Development Finance
As China’s economic influence expands, so does its ambition to shape the very system that once constrained it. In this episode of The China-Global South Podcast, Eric speaks with Greg Chin and Kevin Gallagher from Boston University’s Global Development Policy Center about
China and the Bretton Woods Institutions
By Gregory T. Chin and Kevin P. Gallagher The global economic order is undergoing significant change, especially as it pertains to the Global South. In the 20th century, the legacy Bretton Woods Institutions (BWIs) served as one of the only sources ...
IMF Meetings Begin Under Fresh Cloud of U.S.-China Trade Tensions
The IMF and World Bank's semi-annual gathering of finance ministers and central bank governors got underway in Washington on Monday, against the backdrop of new trade threats between the world's two largest economies. Last week, China unveiled new export restrictions on ...
Kenya Swaps $3.5 Billion in Chinese Railway Debt From Dollars to Yuan, Cutting Costs and Boosting Beijing’s RMB Push
Kenya and China have agreed to restructure the East African country's loan portfolio by converting an estimated $3.5 billion of outstanding debts from U.S. dollars into Chinese yuan. The amount is believed to be the remainder of more than $6 billion of ...
Indonesia Prepares for Pivotal Talks on Expanding China-Financed ‘Whoosh’ High-Speed Railway
When the Jakarta-Bandung high-speed rail, known as the Whoosh, opened in October 2023, it quickly drew scrutiny. China provided billions in loans, KCIC—the China-Indonesia joint venture operating the line—reported losses, and parent companies like the state-owned PT Kereta Api Indonesia (KAI) absorbed significant deficits. Critics ...