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WEEK IN REVIEW: Why Angola is the “Vietnam of Africa”
Angolan President João Lourenço returned from a three-day visit to China loaded with goodies. He secured an upgrade in diplomatic ties, promises of new investment and, most importantly, a major reduction in monthly debt payments. ...
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 ...
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 ...
How China Can Make a Significant Difference in Mobilizing Capital for Climate and Conservation
By Rebecca Ray On February 7, major global creditors will meet at the Global Sovereign Debt Roundtable (GSDR) to address the continuing debt crisis among emerging market and developing economies (EMDEs), which have faced a confluence of crisis factors – ...
China and the Global South’s Merging Talking Points
Considering that we’re called “The China-Global South Project,” it’s probably not surprising that we’ve long predicted that the developing world is becoming more central to China’s global geopolitical agenda. Other analysts are coming around to this view. For example, the Asia ...
Who Will Come to the Rescue? The Inadequacies of the Global Financial Safety Net and Its Impact on Developing Countries
By Marina Zucker-Marques and William N. Kring In an era marked by ‘higher-for-longer’ interest rates and restricted access to international financial markets, access to emergency liquidity financing is essential for emerging markets and developing economies (EMDEs) to weather economic ...
A Primer on China’s Role in the Worsening Zambian Debt Crisis
Zambia's debt restructuring deal that was hailed earlier this year as a "landmark" breakthrough for developing countries is now in shambles. Talks broke down a couple of weeks ago when bilateral creditors led by China and France objected to the terms ...
What the Past Tells Us About the Future of the BRI
There's a widely-held perception in many parts of the U.S., Europe, and India that debt and geopolitics have led to the demise of China's Belt and Road Initiative (BRI). But a landmark new study from AidData proves otherwise, revealing not only ...
Michael Pettis Explains How China’s Changing Economy Will Impact the World
China's economy emerged from the pandemic much weaker than before. Unemployment is up, exports are down and a burgeoning property crisis is having a devastating impact on local government finances. These changes in the economy ...
Breaking the Taboo: How Multilateral Development Banks Can Participate in Debt Relief
By Marina Zucker-Marques and Kevin P.Gallagher For three long years now, the Group of 20 (G20) Common Framework has been unable to put debt-distressed countries on a path toward debt sustainability and development. The Common ...
Africa at the Intersection of Three Megatrends: China, Climate and Debt
Dramatic scenes this week in Italy where 7,000 people, mostly from Africa, came ashore after making the dangerous trek across the Mediterranean. It was a similar situation along the U.S.-Mexico border where 9,000 people crossed in a single day.
How China’s Economic Slowdown Impacts Developing Countries
The Chinese economy is in trouble. Exports, manufacturing output, and investment are all down. Unemployment, particularly among young people is up. Provincial debt is now at a record $8 trillion while a burgeoning property crisis has eliminated a once reliable source ...