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As Debt Resolution Deadlock Looms, Which Scenarios Face Us?
China’s rapid rise as a global lender has also made it a significant disrupter of the business-as-usual of debt restructuring. While Western stakeholders have framed China’s role as a ‘barrier,’ Beijing insists that it is being treated unfairly in comparison to Western-led ...
China’s “Marshall Plan” for South Africa Raises Questions
China Communications Construction Company (CCCC) has apparently provided a comprehensive blueprint to overhaul South Africa’s ailing infrastructure sector in order to kickstart growth. South African development is being dragged down by a joint crisis in its state-owned enterprises. Ongoing blackouts from its ...
BRI DEEP DIVE: New Chinese Government Report Gives the Broadest Inside View of the BRI Yet
Marking the tenth anniversary of the Belt and Road Initiative, China’s State Council Information Office released a huge white paper taking stock. It provides the most comprehensive view yet of how the BRI is viewed inside China and a rundown of key achievements.
BRI DEEP DIVE: Outside View Reveals Debt and Pollution, But Also Real Development Benefits
If the Chinese Government’s white paper gives the government account of the BRI, a second huge report provides the view from outside. Boston University’s Global Development Policy Center published a report this week that takes a critical view of the initiative’s first decade.
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 ...
Kenya’s Longshot Request for Chinese Financial Assistance and Debt Relief
Kenyan President William Ruto is preparing to make a longshot billion-dollar request for badly-needed financial assistance in a bid to bolster his country's ailing economy. Deputy President Rigathi Gachagua said Ruto will submit the request in person when he travels to Beijing later this month. Although he ...
DRC President Inaugurates New Chinese-Built Hydropower Plant
Congolese President Félix Tshisekedi opened the floodgates of the new Busanga hydropower station on the Lualaba River in southern Lualaba province's copper/cobalt belt. There's a certain irony in Tshisekdi inaugurating this particular project given that it's part of the massive $6 billion ...
The Future of the Belt and Road Initiative in Latin America
There's growing anxiety in the United States over China's expanding presence in the Latin America-Caribbean (LAC) region. Last week, a Congressional subcommittee held another breathless hearing that warned of the dangers of "Communism on our shores."
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 ...
Chinese Lending to Africa Plunges to 20-Year Low
Chinese lending to African countries plunged to below a billion dollars in 2022, the lowest level in two decades, according to new data from the Global Development Policy Center at Boston University. The findings confirm that the era of Beijing financing ...
How China’s Overseas Coal Plants in South and Southeast Asia Can be Retired Early
By Alex Clark Chinese public financial institutions have financed almost 40 gigawatts of coal-fired power generation capacity outside China in the last decade. These coal plants, located predominantly in Indonesia, Vietnam, and Pakistan, as shown below, and with an average ...