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: Law
TRANSLATION: In Africa, the Chinese Are Scapegoats
The following is a translation of a post by popular Africa-based WeChat content creator Nie Shaorui 聂少锐. The original post can be read in Chinese on his WeChat page at 小聂说事儿. This article has been edited lightly for clarity. When ...
3 Chinese Nationals Arrested in DRC For Allegedly Murdering a Compatriot
A trio of suspected Chinese "bandits" were made to pose in front of a stash of weapons and cash seized by military authorities in the southern DRC province of Lualaba. Authorities claim the three extorted the money from a fellow Chinese ...
Kenya’s Supreme Court to Weigh In on SGR Contract
Kenya’s Supreme Court will rule on the legality of the country’s Standard Gauge Railway contract. Opponents say the contract being awarded to China Road and Bridge Corp contravened Kenya’s competitive tender rules. The ruling will ...
Just as in Nigeria, Kenyan Lawmakers Are Also Confused About What It Means to Waive “Sovereign Immunity” in Chinese Loan Contracts
Anger is mounting across Kenyan society over the terms of the loan agreements with the China Exim Bank for the multi-billion dollar Standard Gauge Railway that were released by the government on Sunday. Members of Parliament are sounding off in the ...
Chinese Embassy Calls for Retreat from Nigeria’s Kaduna State
The Chinese embassy in Nigeria called for Chinese citizens to leave Kaduna state due to ongoing criminal attacks and kidnappings. This is only the latest such warning from the embassy, and Chinese diplomats have also met with Nigerian security officials to ...
Analysis from Cobus van Staden
Proposed New York Law Could Reshape Debt Negotiations Around the World
Chinese National Convicted of Illegal Mining in Nigeria
A Nigerian court sentenced a Chinese national to five years in jail (with the option of a fine of 1 million naira (about $2,300) for illegal mining. Gang Deng, who works for a Chinese mining company, was caught with 25 tons of unlicensed lepidolite, a mineral used ...
China Moving to Expand CCP’s Legal Influence Abroad, Says Report
The Chinese Communist Party (CCP) is moving to expand its legal influence overseas, both in pursuit of its own objectives and as part of a broader effort to blunt the impact of U.S. extraterritorial laws, according to a new report published on Monday by the Center for ...
Chinese National Killed, Two Others Injured When Gunman Opened Fire in a Karachi Dental Clinic
Pakistani authorities now believe that a gunman "singled out and targeted" an ethnically Chinese-owned dental clinic in Karachi in an attack that killed one and injured two. Police say all three of the ...
Chinese Gold Miner in Zimbabwe Faces Labor Abuse Allegations — Again
A Chinese mining company in Zimbabwe is under fire for labor abuses. Workers at Odzi Resources Zimbabwe’s gold mine in the Mutare district accuse managers of violence and say operations often breach local laws.
Ghanaian Government Steps Up Illegal Mining Crackdown in the Wake of Aisha Huang Arrest
Ghanaian security forces arrested 164 people last week in a new crackdown on the illegal small-scale gold mining known as "galamsey." Many of those detained are foreigners, mostly from West African countries but none from China. The government's renewed ...