Tag: predatory lending
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Senior Commerce Ministry Official Says China Not the Main Creditor in Africa, Refutes Debt Trap Charge
The top Africa official at China's powerful Ministry of Commerce (MOFCOM) forcefully pushed back against U.S. and Indian accusations that Beijing engages in predatory lending on the continent. Shen Xiang, MOFCOM's director of West Asia and Africa, responded to a question ...
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New Report Debunks Chinese Debt Trap Narrative in Sri Lanka
The Chinese debt trap narrative was started based on the purported surrender of the Port of Hambantota in Sri Lanka. When Colombo fell behind in its payments to the China Exim Bank for the loan, the story goes, Beijing seized the ...
Almost Every Major Kenyan Newspaper Published Column by Chinese Ambassador That Refutes Debt Trap Accusation
An unusual phenomenon occurred in Kenya over the past few days: the country's normally competitive newspapers all ran the same column written by China's envoy to Nairobi, Zhou Pingjian. Normally, newspapers insist on exclusivity when publishing columns like this. While we have no proof, it's possible that the ...
Chinese Infrastructure Loans to Africa Are Not Aid – But What Are They?
As concern grows as to how countries like Kenya will repay their loans to China, navigating misinformation about Chinese lending remains challenging. Johns Hopkins University Professor Deborah Brautigam, one of the world’s leading experts on Chinese lending to Africa, unpacked the issue in a public lecture on ...
If You’re Going to Criticize China For Its Lending Practices, Make Sure to At Least Get Your Facts Right
The central bank in Sri Lanka will make a $500 million payment on Tuesday to bondholders, the first tranche of $4.5 billion in debt servicing obligations that Colombo is due to pay this year. The South Asian island state ...
File image of a worker cleaning solar panels installed on the roof of the traditional Gedhe market in Klaten, Central Java. China’s $180 billion clean tech push is reshaping the Global South, with Indonesia a key test of who controls new green industries. (Photo: DEVI RAHMAN / AFP)
By Cobus van Staden, CGSP Head of Research Remember “no blood for oil”? Decades ago, the slogan emblematized opposition to the U.S. invasion of Iraq. Its logic subsequently shifted as the United States experienced a gas and oil revolution thanks to fracking.
Senior Commerce Ministry Official Says China Not the Main Creditor in Africa, Refutes Debt Trap Charge
The top Africa official at China's powerful Ministry of Commerce (MOFCOM) forcefully pushed back against U.S. and Indian accusations that Beijing engages in predatory lending on the continent. Shen Xiang, MOFCOM's director of West Asia and Africa, responded to a question ...
New Report Debunks Chinese Debt Trap Narrative in Sri Lanka
The Chinese debt trap narrative was started based on the purported surrender of the Port of Hambantota in Sri Lanka. When Colombo fell behind in its payments to the China Exim Bank for the loan, the story goes, Beijing seized the ...
Almost Every Major Kenyan Newspaper Published Column by Chinese Ambassador That Refutes Debt Trap Accusation
An unusual phenomenon occurred in Kenya over the past few days: the country's normally competitive newspapers all ran the same column written by China's envoy to Nairobi, Zhou Pingjian. Normally, newspapers insist on exclusivity when publishing columns like this. While we have no proof, it's possible that the ...
Chinese Infrastructure Loans to Africa Are Not Aid – But What Are They?
As concern grows as to how countries like Kenya will repay their loans to China, navigating misinformation about Chinese lending remains challenging. Johns Hopkins University Professor Deborah Brautigam, one of the world’s leading experts on Chinese lending to Africa, unpacked the issue in a public lecture on ...
If You’re Going to Criticize China For Its Lending Practices, Make Sure to At Least Get Your Facts Right
The central bank in Sri Lanka will make a $500 million payment on Tuesday to bondholders, the first tranche of $4.5 billion in debt servicing obligations that Colombo is due to pay this year. The South Asian island state ...
Kenyatta to China’s Critics: “We Don’t Need Lectures”
Kenyan President Uhuru Kenyatta hit back at critics of China's presence in Africa, presenting Beijing as a welcome alternative to Africa's legacy partners in the U.S. and Europe that too often, he said, lectured African countries and dictated the terms of engagement.
Fact-Checking a Kenyan MP’s Assertions About the Risks of Borrowing From China
Kenya's former majority speaker and current MP from the northeastern city of Garissa, Aden Duale, is not a big fan of China...to say the least. He took to Twitter during Chinese Foreign Minister Wang Yi's visit last week to tell his 650,000 followers how Africa's ...
One of China’s Top Africa Scholars Tries to Explain How Wang Yi Chooses What African Countries to Visit and Also Responds to Debt Trap Accusation
For 32 years, Chinese foreign ministers like Wang Yi have made it a priority to go to Africa for their first overseas trip of the year but little is known about what goes into selecting the countries for these annual visits. ...
Don’t Worry Africa… China Isn’t Going to Seize Your Assets, But They’re Also Not Going to Forgive Your Debts
There is a sense of anxiety over Chinese debt in several African countries and beyond. From Zambia to Kenya, Uganda, and now even in the small Balkan country of Montenegro. Repeated assurances from China and borrowing countries that the debt situation is under ...
The U.S. State Department Has All But Abandoned the Chinese “Debt Trap” Line, But Pentagon Officials Haven’t
One of the many differences between the Biden State Department and that of his predecessor Donald Trump is that today's U.S. diplomats rarely make any public reference to Chinese "debt traps," very common taking point just a couple of years ago. Inside the State Department, a number ...
In Glasgow, Biden Positioned His Global Infrastructure Plan Against China’s Without Actually Saying “China”
U.S. President Joe Biden addressed the COP26 meeting in Glasgow, Scotland on Tuesday. He used some of his time to restate the broad principles guiding his Build Back Better World (B3W) initiative that is ostensibly intended to build infrastructure in developing countries but is also ...
The Man Who Came Up With the Now-Debunked Chinese “Debt Trap” Theory Still Trying to Convince Official Washington that It’s a Thing
Commentator and author Brahama Chellaney is determined to keep his Chinese "debt trap" theory alive regardless of whether or not there's any credible evidence to support his assertion. Chellaney first introduced the idea in ...