When it was announced in 2023 that the African Union would become a full member of the G20, I darkly joked on a podcast that the AU’s entry into the body could very well mark the moment the G20 lost its status as one of the most important global coordination forums. Mark my words, I said, soon The Economist will be like “Uhhh, the G20 is OVER – it’s the ...
Tag: developing countries
Related Posts
China Says BRICS Not Seeking ‘Confrontation’ After Trump Tariff Threat
China said on Monday that BRICS, the grouping that also includes Brazil, Russia and India, was not seeking "confrontation" after U.S. President Donald Trump vowed to impose an extra 10 percent tariff on countries aligning with the bloc. "Regarding the imposition ...
China Minister Says U.S. Tariffs Will ‘Inflict Serious Harm” on Poor Nations
China's Commerce Minister Wang Wentao told the head of the World Trade Organization that U.S. tariffs will "inflict serious harm" on poor nations, according to a ministry statement released Saturday. Washington and Beijing have been trading salvos of increasingly higher tariffs ...
Making Sense of Competing Narratives on Debt and Climate Change
By Tim Hirschel-Burns If you are a casual observer trying to keep up with the news on sovereign debt right now, you have every right to be confused by last month’s stories. According to Bloomberg, ...
Searching for Climate Solutions In a Haze of Geopolitics
In the afternoons when I would reach for the air conditioner’s remote control, unable to go on without turning on the cooling machine, I grieve a little. I know it didn’t used to be this hot. I remember playing outside as a child at this hour. The ...
China Gambled When It Lent A Lot of Money to the World’s Poorest Countries. Now Those Bets Are in Real Trouble.
With a growing number of developing countries facing acute debt distress, many to Chinese creditors, Beijing may soon be forced to abandon its long-held policy of refusing to cancel concessional and commercial loans. Chinese creditors have been aggressively rescheduling billions of ...
New Research Reveals China’s BRI Riddled With Corruption, Labor Problems and Billions in “Hidden Debts”
Developing countries along China's Belt and Road Initiative (BRI) owe nearly $400 billion in so-called "hidden debts," according to a landmark new study published on Wednesday from AidData researchers at the College of William & Mary in Virginia. These newly discovered ...
China Will No Longer Build Coal Power Plants Overseas, Xi Tells UN
China's long history of building coal-fired power plants in developing countries around the world is now over, said President Xi Jinping in a short, 15-minute video address to the United Nations General Assembly. "China will step up support ...
Hunan Province’s Trade With BRI Countries Jumps 20%
Hunan province is now among the key hubs in China for African trade and increasingly it appears to be positioning itself as a larger BRI trading center. Hunan trade with BRI countries is up 20% year-on-year to $16.5 billion in the January-August period.
It May Be Too Late For the U.S. and Europe to Catch Up With China’s Vaccine Distribution Drive in the Developing World
The reality that China and Russia together have distributed almost a billion doses of COVID-19 vaccines lingered over Friday's virtual G7 summit. While attendees expressed concern about the unfair distribution of vaccines, ironically brought on by hoarding in their countries, the leaders from the ...
Why One Chinese COVID-19 Vaccine, in Particular, is Poised to Have a Huge Impact in the Developing World
A new Chinese-made vaccine emerged from late-stage clinical trials this week, well-positioned to help overcome a number of the obstacles that have hampered large-scale distribution of COVID-19 jabs to the world's poorest countries, including many in Africa.
What did Xi Jinping Really Say at Davos?
It’s fascinating to read Xi Jinping’s address to the World Economic Forum and then to read the comments about the speech. What U.S. commentators focus on, and what they ignore, reveal much about the challenges posed by China’s rise to established powers like the United States. The ...
World Bank President Frustrated About the Slow Pace of Private Debt Relief for Africa
World Bank President David Malpass said in a conference call with reporters on Tuesday that he is disappointed that Africa's private creditors aren't doing more to provide badly-needed relief for poor countries struggling amid worsening economic conditions brought on by the COVID-19 pandemic. (BLOOMBERG) ...