Category: Week in Review
WEEK IN REVIEW: Chinese Foreign Minister Wang Yi Warned That Asian Countries Are at Risk of Becoming “Chess Pieces”
Chinese Foreign Minister Wang Yi warned that Asian countries are at risk of becoming "chess pieces" in the burgeoning geopolitical rivalry with the United States. Instead, he argued to the ASEAN Secretariat on Monday that "the future of our region should be in our own hands." Wang's comments ...
WEEK IN REVIEW: Chinese Foreign Direct Investment in BRI Countries Jumped 10.2% in the First Five Months of the Year
Chinese foreign direct investment in BRI countries jumped 10.2% to $8.2 billion in the first five months of the year, according to new data from the Chinese government. Singapore, Indonesia and Pakistan were among the top FDI destinations in 2022. But the news wasn't so good for Chinese ...
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 ...
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 ...