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 ...
Country: Argentina
How Chinese Distant Fishing Is Wrecking Coastal Economies
China’s distant fishing fleet is increasingly affecting coastal economies throughout the Global South. With an estimated 17,000 vessels, China has the world’s largest distant fishing fleet. They operate in a legal grey zone, hauling thousands of tons of sea creatures from international ...
Economy Minister Sergio Massa Leads Argentina’s Pivot to China, Racking Up Some Big Wins During Recent Visit
Argentinian Economy Minister Sergio Massa wrapped up a near-week-long visit to China on Saturday. Early indications are that it was an enormously successful trip. Massa arrived in Beijing last week with a long list of things he needed to get done to ...
Argentina Scores $924 Million in Deals from China
Argentina’s Economy Minister Sergio Massa managed to secure almost a billion dollars' worth of investment deals on the first leg of his trip to China. He is on an economic rescue mission, with talks expected to renew and extend a currency ...
How China Is Moving up the Ranks in the Global Arms Market
By Lukas Fiala The label ‘Made in China’ has long epitomized China’s prominence in global manufacturing. From primary materials to advanced consumer goods, China’s rapid economic rise has been undergirded by the country’s insertion into global value chains since the 1980s ...
New Report: China Is Now the Major Lender of Last Resort for Developing Countries
China has spent $240 billion in rescue payments to 22 economically distressed Belt and Road economies between 2008 and 2021. A new report published by AidData, the research center at the College of William and Mary, and co-authored with researchers at the ...
Analysis from Cobus van Staden
Proposed New York Law Could Reshape Debt Negotiations Around the World
WEEK IN REVIEW: Japan Will Upgrade Ties With ASEAN Later This Year To “Comprehensive Strategic Partnership
Japan will upgrade its ties with the Southeast Asian bloc ASEAN later this year to a "comprehensive strategic partnership" -- joining both the United States and China at this level. Tokyo is moving quickly to strengthen its ties in the region in response to heightened tensions with China and ...
Latin America Was Once an Afterthought for China… Not Anymore
In just the past twenty years, China's trade with countries in Latin America and the Caribbean surged 26-fold to almost half-a-trillion dollars. The region is also now a major destination for Chinese foreign investment and becoming a critically important new front ...
China-Argentina Call Reveals Closer Ties
China’s Foreign Minister Qin Gang held a phone conversation with his Argentine counterpart Santiago Cafiero, the newest sign of the two countries’ increasing closeness. Argentina is a champion of closer cooperation between China and Latin America and plans to ...
WEEK IN REVIEW: Brazil Warns That Mercosur in Jeopardy if Uruguay Signs a Free Trade Agreement With China
Brazilian Foreign Minister Mauro Vieira warned that the South American Common Market known as Mercosur is in jeopardy if Uruguay signs a free trade agreement with China. Viera told the Folha de Sao Paulo newspaper that if Chinese goods enter the common market via Uruguay, it would "destroy" ...
Xi Issues Call For Solidarity Among Developing Nations in Video Address to Latin American Leaders Summit
Chinese President Xi Jinping addressed the final day of a leaders summit of the Community of Latin American and Caribbean States (CELAC) in Buenos Aires on Tuesday, where he renewed calls for closer coordination among developing countries and improved South-South cooperation. The President's ...