Tag: Global South
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China’s Newest Talking Point on Debt: The U.S. Dollar is to Blame
As China faces increasing criticism around perceptions that it is holding up debt relief processes, its state media seems to be trying out new talking points in its messaging on the issue to Global South audiences, as seen in a recent article in the state-owned tabloid Global Times: ...
China’s Economy Rebounds on Back of Increased Trade
China’s economy rebounded in the first quarter of this year, with gross domestic product growing by 4.5%, exceeding expectations. A recovery in retail spending and real estate prices has added to growth, according to new economic figures released on Monday. The 4.5% growth ...
Geopolitical Pressure Is Just One of the Global South’s Problems
I'm writing to you shortly after recording a podcast episode with the technology expert John Lee about the ramifications of the U.S.-China tech dispute for the rest of the world. That conversation will reach your inbox next week, but it made ...
Debt Standoff At IMF, World Bank Spring Meetings
Finance ministers from around the world have descended on Washington DC for the World Bank and International Monetary Fund’s Spring Meetings. The Chinese government has confirmed that a top-level Chinese delegation will attend in person -- the first time since the COVID pandemic.
How Does Africa Get the Tech It Needs?
As geopolitical tensions rise, external partners want a say in African development choices. This is particularly true for digital expansion, where Global South countries are frequently framed as battlegrounds between Chinese companies like Huawei and Western competitors. However, African policymakers are gaining ...
Lending Data Offers Clue to China’s Global South Influence
A new report led by the U.S.-based research center AidData is drawing global attention this week. It shows that from 2008 to 2021, China spent $240 billion in bailouts and liquidity support to 22 Global South countries. Even though the report focuses ...
Xi Bets on Global South in Moscow
Today is a public holiday in South Africa – Human Rights Day. There’s a certain irony in spending the day focusing on China’s President Xi Jinping’s visit to Vladimir Putin, knee-deep in a human rights disaster. What one makes of the ...
China Not to Blame for Debt Crisis in Developing Countries, Say a Chorus of Chinese Spokespeople in Beijing
Don't blame us, blame them emerged as a sort of chorus among various Chinese spokespeople in Beijing in recent days. They're all pushing back against accusations that Beijing is the cause of the worsening debt crisis in Africa, Asia and other Global South regions.
Stand-off Between China and Western Creditors Leading to Unprecedented Delays In Debt Relief for Poor Countries
Just ten years ago, it usually took less than two months for a debt-distressed country to get a sign-off from the International Monetary Fund for emergency financial relief, but that is no longer the case, according to new data compiled by Reuters.
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 ...
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 ...
China’s Debt Fight Has High Stakes
We’ve covered Chinese lending to the Global South through the boom days of the BRI and the current debt busts cratering Zambia, Sri Lanka and other economies. One of the things we’ve learned is that China plays a weird dual role in the global development finance landscape. ...