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U.S. Discussed Debt Issues With China While Also Hinting Beijing Uses Loans for “Coercive Leverage” in South Asia
There was a hint of optimism going into Saturday's debt roundtable organized by India, the World Bank and the IMF that the U.S. and China might be able to find some common ground. Deputy-level officials from both countries met on Friday,
Xinhua: The U.S. Deliberately Distorts Chinas’s Role in the African Debt Crisis
The burgeoning debt crisis in a growing number of African countries is increasingly seen by the Chinese government as another front in Beijing's competition with Western powers like the U.S. A recent article published earlier this month by the official Xinhua ...
When it Comes to the Global South Debt Crisis, the Chinese Message is Clear: Don’t Talk About China, Just Focus on the West
Chinese scholars and U.S. and European officials seem to follow the same playbook on debt. Both sides are highly selective in their assessment of the worsening debt crisis in developing countries by focusing disproportionate attention on opponents' role while conveniently overlooking their own contribution to the problem. ...
Gyude Moore: Future of Global Development Finance System at Risk if China Wins Stand-off With IMF, World Bank
If China is successful in its effort to force multilateral development banks (MDB) like the World Bank and the International Monetary Fund to accept the same kind of writedowns (known as 'haircuts') on loans to poor countries as other lenders, it would endanger the entire global development ...
China, Russia, and the New Era of “Systemic Competition”
By Lukas Fiala Earlier this week we had the opportunity to host the German Marshall Fund’s Andrew Small for a discussion about his latest book The Rupture: China and the Global Race for the Future. As the title suggests, Andrew ...
Pentagon Not Happy About South African Naval Exercises But Won’t Admit It Publicly
The United States military is staying largely quiet over the ongoing joint naval exercises in South Africa that include Russia and China. Earlier, Deputy Assistant Secretary of Defense for African Affairs Chidi Blyden said the U.S. respects South Africa's ...
Major Powers Express Ambivalence Going Into This Weekend’s Critical G20 Debt Relief Talks in Bangalore
As major powers head into this week’s G20 talks on debt restructuring, the mood is grim. The outcome of the talks will be decisive for Sri Lanka’s debt restructuring process and will have a direct bearing on talks affecting Zambia, Ethiopia, Ghana, Ecuador and ...
Sharply Contrasting Views on Whether China is Right to Demand Multilateral Development Banks to Take Losses on Their Loans
The dispute between China and Western lenders about how Multilateral Development Banks (MDBs) should take part in debt restructuring goes beyond current U.S.-China tensions. Rather, it relates to the fundamental question of how to fund development, rooted in much broader differences ...
Chinese, International Analysts Differ Markedly on Iranian President Ebrahim Raisi’s Visit to Beijing
Iranian President Ebrahim Raisi's visit to China earlier this month, when he met with his counterpart Xi Jinping, drew a lot of international attention. However, Chinese experts differ sharply from their international counterparts on what was achieved. Commentators in China, not ...
Toxic Politics to Blame if G20’s Debt Relief Efforts Fail, Says Deborah Brautigam
Vulnerable societies like Zambia could be crushed if geopolitics are allowed to hijack debt renegotiation processes. So warns the Africa-China and debt expert Deborah Brautigam in a recent article in Foreign Affairs. The article is very useful for those following the ...
Why China Must Partner With Global South Countries to Build a “New International System”
China should respond to pressures from the United States and its allies by building a new global system based on coalitions with Global South countries. So argues Yang Ping, the publisher and editor-in-chief of the influential magazine Beijing Cultural Review. An edited translation of ...
Wang Huiyao on China’s ‘Misunderstood Foreign Policy’
Senior-level Chinese stakeholders often contend that one of the main reasons for today's heightened geopolitical tensions between China and the West is due to "misunderstandings" of its foreign policy objectives by outsiders. Chinese distrust is ...