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 ...
CGSP Podcasts
Weekly discussions with key thought leaders about China’s engagement in Africa and the Global South.
If You Lead a Developing Country and Want to Borrow Money From China, Then Listen to This Podcast
The days of China easily handing out billions of dollars to build infrastructure in developing countries around the world are now over. The Chinese can't afford it anymore and many of the borrowing countries just don't have the capacity to take ...
African Demand for Chinese Surveillance Technology
While many countries around the world, particularly G7 states, have largely outlawed the use of Chinese surveillance technology made by companies like Huawei, ZTE, and Hikvision among others, that is not the case in Africa. Dozens of governments across the continent ...
[WEEK IN REVIEW] Chinese Hacking in Kenya & DRC President Goes to Beijing
This week CGSP Francophone Africa Editor Geraud Neema joins Eric & Cobus to discuss DR Congo President Félix Tshiskedi's state visit to China which comes at a critical time for the Congolese leader. Tshisekedi is going to pressure his Chinese hosts ...
Key Lessons From Indonesia’s China-Backed Mining & Infrastructure Ventures
Indonesia is a pioneer among developing countries for its efforts in moving up the EV battery metal value chain. Whereas most other countries like the DR Congo and Chile export raw commodities that are processed elsewhere, Indonesia now requires all of ...
South-South Cooperation in Economically Perilous Times
For 70+ years, development economists have been touting the idea that if lesser developed countries trade and invest collaboratively, it would serve as a pathway out of poverty. But today, the notion of so-called South-South cooperation is facing unprecedented challenges as ...
Analysis from Cobus van Staden
Proposed New York Law Could Reshape Debt Negotiations Around the World
The Case for More U.S. Soft Power to Counter China in the Global South
China is one of the very few truly bipartisan issues in Washington today where there is near unanimous consensus that the U.S. must work to counter Beijing's growing influence around the world, especially in developing countries.
Chinese Merchants Are Disrupting Kenya’s Business Cartels
In the old days, a small group of Kenyan elites dominated the business of importing low-cost products from China that they would then turn around and sell for two or three times the cost. But that once-lucrative business is now under ...
China’s Confusing, Contradictory Policy on Coal Power
In September 2021, President Xi Jinping announced at the United Nations that China would immediately halt all financing of coal power projects abroad as part of Beijing's broader ambition to achieve carbon neutrality by 2060. ...
WEEK IN REVIEW: Life & Art Converge With China’s Evacuations From Sudan
PLA Navy warships facilitated China's third major evacuation from a war-ravaged MENA country this week when two vessels ferried more than a thousand Chinese and Pakistani nationals to safety. Chinese state media glorified the evacuations using music and language that echoed ...
Understanding China’s Role in the Developing World Debt Crisis (Part 2)
The widely debunked Chinese debt trap narrative re-surfaced again in Washington, D.C. when the top U.S. military commander for Africa General Michael Langley testified before Congress -- highlighting the urgent need for better information about Chinese lending practices in developing countries. ...
Update on China’s Role in the Burgeoning Global South Debt Crisis
There was a lot of excitement earlier this month at the IMF and World Bank's annual gathering in Washington, D.C. about rumors that the impasse between China and multilateral development banks (MDBs) had been resolved. That stalemate between the Chinese and ...
Bright Simons on Africa in the Era of Great Power Competition
Many African countries are confronting unprecedented challenges from a convergence of forces far beyond their control. Africans are suffering disproportionately from the effects of climate change, global economic disruption and are being pushed to the middle of yet another Great Power ...
U.S.-China Technology Competition in the Global South
The U.S. and China are waging a hard-fought battle today for dominance of global technology standards, particularly in emerging sectors like 5G mobile telecommunications. While China's access to markets in advanced economies is increasingly limited, tech companies like Huawei, ZTE, and ...
The Far-Reaching Consequences of China’s Demand for African Donkeys
Elephants, rhinos, and lions usually come to mind first in discussions about the China-Africa animal trade, not donkeys. But surging demand for donkey hides used to manufacture a Chinese traditional medicinal product is having a devastating impact on rural populations across ...
The Risks and Rewards of China’s New Mideast Diplomacy
When China announced in March that it had brokered a landmark agreement between Iran and Saudi Arabia to restore diplomatic ties, it took a lot of people by surprise. They just didn't see it coming. ...