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WEEK IN REVIEW: Chinese Premier Li Qiang Embarked on a Three-Nation, Week-Long Tour of Asia-Pacific Countries on Thursday

Chinese Premier Li Qiang will embark on a three-nation, week-long tour of Asia-Pacific countries on Thursday that will include stops in Malaysia, New Zealand, and Australia. Li's visit to both NZ and Australia will be the first by a Chinese premier in seven years and the first to ...

Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors

Developing countries spent a staggering $294 billion to service their debts in 2022, a figure that's expected to balloon by a third this year, according to the findings of a new report published by the UK NGO ONE Campaign. While China ...

Zambia’s Finance Minister Acknowledged His Country Borrowed Too Much From China

Zambian Finance Minister Situmbeko Musokotwane said the quiet part out loud when he acknowledged that previous administrations borrowed too much money from China. “The level of debt that Zambia acquired from China was way, way too high,” he told the Wall ...

WEEK IN REVIEW: Chinese Premier Li Qiang Said Beijing Will Assist Sri Lanka in Its Debt Restructuring Process

Chinese Prime Minister Li Qiang provided fresh assurances on Tuesday to his Sri Lankan counterpart Dinesh Gunawardena that Beijing will assist Colombo in its debt restructuring process. Gunawardena is visiting Beijing this week and raised the issue of Sri Lanka's $7.1 billion outstanding loans owed to Chinese creditors. 

Tang Xiaoyang on Why the U.S., Not China is to Blame for Africa’s Debt Problems

While many in the West still contend Africa's worsening debt crisis is largely due to excessive Chinese lending, Tsinghua University Professor Tang Xiaoyang argues that accusation just isn't true.  Instead, the well-known China-Africa scholar contends ...

Analysis from Cobus van Staden

Philippine President Ramps Up Rhetoric as Local Attitudes Harden

The President of the Philippines, Ferdinand Marcos Jr., told soldiers to be ready for any conflict amid a potential overlap of his country’s tensions with China in the South China Sea and growing tensions between China and Taiwan.
Speaking to troops at a base in the northern Isabela province on Monday, Marcos said: “The external threat now has become more pronounced, has become more worrisome, and that is why we have to ...

Zambia is Very Close to Finalizing Its Debt Restructuring, But There’s Still One More Chinese Obstacle in the Way

Zambia's breakthrough deal on Monday to restructure $3 billion of Eurobond debt helps the southern African country move tantalizingly close to finally ending three years of brutal negotiations with its various creditors. Even though President Haikinde Hichilema's government has already negotiated a ...

Letting Some Get Wealthy First

By Felix Brender 王哲謙 This week, the Communist Party set a rather ambitious GDP growth target of 5%, doubling down on China’s growth narrative and development success story without qualifications. At the same time, CNN and Al Jazeera are reporting on PRC citizens ...

Investors Celebrate Zambia’s Debt Deal With China by Snapping Up Government Bonds

Zambian bonds traded at their highest levels in 18 months on Monday following news that Lusaka reached a debt deal last week with official Chinese creditors. “China agreeing on terms means that we can get on with the private-creditor restructuring,” Sam ...

China Proposes Billion-Dollar Revamp of the Legendary Tazara Railway

The competition between the United States and China to refurbish some of Africa's decrepit railways intensified this week when the Chinese government presented a billion-dollar proposal to rebuild the Tazara railway linking Zambia's copperbelt to the Tanzanian port of Dar es Salaam. ...

Africa’s Debt Dilemma: The Urgent Need for More Equitable Borrowing

For the first time in years, a few African countries are venturing back into the bond market to raise funds for infrastructure and to pay down their debts. However, borrowing more from private creditors is a risky move given the difficulties ...
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