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Category: Week in Review

WEEK IN REVIEW: Iran Is the Second Country This Week, After Argentina, to Submit an Application to Join the BRICS Club

Iran is the second country this week, after Argentina, to submit an application to join the BRICS club. The BRICS group is increasingly seen by both Beijing and Moscow as a potential alternative to the Western-led international economic order. Although the BRICS states have agreed to expand their ...

WEEK IN REVIEW: The United States To Re-launch B3W at Next Week’s G7 Conference

The United States will re-launch the Build Back Better World (B3W) initiative at next week's G7 conference with a new program that aims to provide an alternative to Chinese infrastructure financing in the Global South. National Security Advisor Jake Sullivan did not provide many details on the new ...

WEEK IN REVIEW: The First Meeting of the Zambia Creditor Committee to Convene in Paris this Week

The first meeting of the Zambia Creditor Committee, co-chaired by China and France, will convene on Thursday in Paris. IMF officials indicated on Wednesday that if everything proceeds smoothly with restructuring the country's $17.3 billion external debt, a bail-out deal with the fund could be reached by early ...

WEEK IN REVIEW: China, For the First Time, Will Convene A Horn of Africa (HoA) Conference

China, for the first time, will convene a Horn of Africa (HoA) conference between June 20th and 22nd in Addis Ababa.  China's new Special Envoy for HoA, Xue Bing, announced during a tour in March that Beijing would organize such a conference in the first half of the ...

WEEK IN REVIEW: Chinese Oil Major Sinopec and Algerian Oil Giant Sonatrach Signed a $500 Million deal to Drill for Oil and Gas

Chinese oil major Sinopec and Algerian oil giant Sonatrach signed a half-a-billion dollar deal to drill for oil and gas in the Zaarzaitine field, 1500km from Algiers. Under the new agreement, the two sides will produce 95 million barrels. The timing of the deal is notable given ...

Analysis from Cobus van Staden

The G7’s New Infrastructure Initiative Could Strengthen China’s Global South Game: Experts

The G7’s new Partnership for Global Infrastructure Investment (PGII), a $600 billion plan to build infrastructure across the Global South and counter China’s Belt and Road Initiative (BRI), could have the effect of improving how Chinese companies do business and could end up improving the BRI itself, according to development experts. 

Some acknowledged that the BRI has been controversial for its environmental and debt impacts. But they also pointed out ...

WEEK IN REVIEW: Heavy Rains Are Once Again Pounding South Africa’s KwaZulu-Natal Province

Heavy rains are once again pounding South Africa's KwaZulu-Natal province, no doubt causing serious concern among mining companies in neighboring Zambia and DRCongo who rely heavily on the KZN's Port of Durban to export copper and cobalt, mostly to China. Massive floods last month forced the port to ...

WEEK IN REVIEW: Zimbabwean Government Accuses the U.S. of Paying Local Journalists to Write Negative Stories About China

The Zimbabwean government is once again accusing the U.S. of paying local journalists to write negative stories about Chinese investment in the country. The state-run Herald newspaper reported on Tuesday that the U.S. embassy in Harare is working with the opposition MDC party to foment opposition to Chinese ...

WEEK IN REVIEW: China will Serve as Co-Chair of Zambia’s New Creditor Committee

China, not South Africa or France, will serve as co-chair of Zambia's new creditor committee, said Finance Minister Situmbeko Musokotwane.  “It does make sense for our biggest creditor to play a leading part, to take a leading role in the proceedings,” Musokotwane told Bloomberg late last week. "They are ...

WEEK IN REVIEW: African officials Concerned about the Deteriorating Value of the Chinese Yuan

Finance officials in Africa and other emerging markets are becoming increasingly concerned about the deteriorating value of the Chinese yuan that's weighing down the value of their currencies. The RMB has fallen steeply over the past two weeks in response to the disruption of factory production, trade, and ...

WEEK IN REVIEW: South African Rand Falls for Seventh Consecutive Week due to Concerns about China’s Economic Wellbeing

The South African rand fell for a seventh consecutive session due in part to investor concerns about the economic well-being of the country's largest trading partner, China.  The SA currency is now at its lowest level since January, weighed down by the ongoing lockdowns that have cooled demand for ...
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