As China Nitpicks Terms, Asia’s Debt Bomb is Ticking…

As technocrats in Sri Lanka and Laos grapple with renegotiating loans to a variety of creditors, including China, the region’s creeping debt distress is slowly tipping into a full-blown humanitarian disaster. 

The situation is the most critical in Sri Lanka, where the government has essentially run out of foreign currency, triggering massive shortages of food, fuel, and medicine, and in Pakistan, where debt distress is worsened by climate change-related flooding. 

…

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

The post As China Nitpicks Terms, Asia’s Debt Bomb is Ticking… appeared first on The China Global South Project.



source https://chinaglobalsouth.com/2022/09/28/as-china-nitpicks-terms-asias-debt-bomb-is-ticking/

Comments

Post a Comment

Popular posts from this blog

The Stark Difference Between How African and U.S. Governments See Engagement With China Was Clearly Evident in Nigeria

The huge divide between how African governments see their engagement with China and how it’s framed by the United States was on full display  at a press conference late last week in Abuja with visiting Secretary of State Antony Blinken and his host Nigerian Foreign Minister Geoffrey Onyeama . While Blinken appeared to intentionally avoid using some of the more controversial rhetoric about “debt traps” and imported labor that has long informed official U.S. thinking on this issue, he wove in subtle, indirect references to several of the longstanding criticisms of Chinese investments in Africa. But Onyeama, like many of his peers in other foreign ministries, was not afraid to push back on that narrative: This marketing content will be shown in place of your protected content to anyone who is not allowed to read the post… Get a daily email packed with the latest China-Africa news and analysis. Read exclusive insights on the key trends shaping China-Africa relations. Full a...
Read more

A Groundbreaking New Report Provides Unprecedented Insights Into Chinese Lending Practices Around the World

A new report provides an unprecedented view into Chinese loan contracts with dozens of governments throughout the Global South. Researchers from AidData, the Kiel Institute, and the Center for Global Development analyzed 100 contracts between Chinese state-owned entities and government borrowers in 24 countries and then compared the terms of those contracts with those of other bilateral, multilateral and commercial creditors. China’s lending practices are notoriously opaque and until now very few people other than key principals involved in the actual loans have had the opportunity to review these contracts in detail so as to better understand the specific legal terms and how they’re structured. What the research team discovered is that China is “a muscular and commercially-savvy lender” who employs contract terms that are in many ways quite similar to those of other international creditors. However, they did note a number of key differences that highlight how China structures its d...
Read more

Huawei’s Mobile Handset Business Still Has Some Life Left in It… Pretty Much Only in South Africa Though

Chinese telecommunications giant  Huawei held on to a respectable 25% share of the South African market last year  despite the fact that it no longer sells handsets with Google’s Android operating system. Huawei was nonetheless a distant second to Samsung, who dominates the SA market with 47.6% of mobile device sales. Apple came in third with just under 16%,  according to data analytics firm Statcounter . This marketing content will be shown in place of your protected content to anyone who is not allowed to read the post… Get a daily email packed with the latest China-Africa news and analysis. Read exclusive insights on the key trends shaping China-Africa relations. Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South. China, Africa and the Global South... find out what’s happening. Subscribe today for unlimited access. Monthly $15/mo OR Yearly $149/yr (17% Savings) Already a subs...
Read more