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Country: Germany

WEEK IN REVIEW: German Chancellor Olaf Scholz Embarks on Three-Day, Two-Nation African Tour

German Chancellor Olaf Scholz will embark on a three-day, two-nation African tour, marking the second G7 leader this week to visit the continent. Scholz will arrive in Ethiopia on Thursday and then go to Kenya on Friday. The Chancellor's visit is widely seen as part a broader EU ...

New African Debt Database Shows Chinese Loans Are Cheap, But Not the Cheapest

Researchers at the Kiel Institue for the World Economy in Germany launched a new database of African debt that confirms a key Chinese talking point: Beijing's loans to African countries are significantly cheaper than those of commercial creditors. However, David Mihalyi and ...

WEEK IN REVIEW: Chinese and Indian Oil Buyers Ignoring West’s Price Cap on Russian Crude

Chinese and Indian oil buyers are ignoring the West's price cap on Russian crude, snapping up a majority of Moscow's output at prices well above the $60 per barrel limit. The cap was imposed by G7 countries in a bid to curb revenue used by the Russian military ...

Chinese Company Commences Construction Works After 5-Year Delay as Kenya Turns to Mega Dams for Irrigation

China’s Sinohydro Corporation and Engineering has received the green light to commence works on the $135 million Mwache Multipurpose Dam project in Kenya’s Kwale County. Launched by President William Ruto on Thursday, the long-awaited project is scheduled for completion in 2026. ...

Germany’s Ambassador to Ghana Explains Why He Thinks China is Hesitating to Set Up a Creditor Committee

The German government is advocating on behalf of Ghana for China to stop stalling in the creation of a new Creditor Committee that will restructure Accra's debts. Last week, Ghana officially became the second African country in the post-pandemic era to default ...

Analysis from Cobus van Staden

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 swap agreement in order to infuse much-needed foreign money into the Argentinian economy.

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Germany’s Finance Minister Singles Out China in Debt Relief Appeal for Ghana

German Finance Minister Christian Lindner is the latest high-ranking Western official to pressure China to do more to help relieve the burgeoning debt crisis in a growing number of African countries. "I remind China of its responsibilities as a very important ...

Scholz Looks to South America to Reduce Germany’s Dependence on Chinese Critical Resources

German Chancellor Olaf Scholz has spent the past few days crisscrossing South America in a bid to find alternative sources of critical minerals, notably lithium, that his country's powerful auto industry now relies predominantly on China to supply.  Over the weekend, ...

Countries in Asia and the Americas Account For Half of China’s Total Auto Exports

China is on the verge of displacing Germany to become the world's second-largest auto exporting nation (Japan is #1). This is a remarkable accomplishment given the speed that China's automakers have gained international market share, tripling sales to 2.5 million units since 2020.

Western Calls to De-Risk African Projects Echo China’s Approach

One of the underlying factors driving Chinese business in Africa is the role of state insurers like Sinosure in reducing the risk taken on by Chinese companies.  So it’s interesting to see that Western actors are slowly moving in ...

China Revealed Diplomatic Double Standard in Dealings With Some International Leaders

Xi Jinping did not disappoint China-watchers when he re-emerged on the international stage. After remaining in China during the pandemic, the last few weeks saw him greeting visiting leaders in Beijing and attending summits in Southeast Asia. He was a commanding ...
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