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Archive for the tag “Africa”

China’s Belt And Road Initiative Faces Increased Political Risk In Participating Countries

China’s top economic planner has warned that the impact of Covid-19 and increased political risks in countries taking part in the Belt and Road Initiative are among the main challenges the multibillion-dollar project faces in the next five years. A report by the National Development and Reform Commission outlining the country’s development over the course of its new five-year plan also identified what Beijing regards as the key problems and tasks the infrastructure project faces.

Read Here | South China Morning Post

Also Read | China looks To Recreate Ancient Silk Road With Network Of African Ports

Meet The World’s Largest Free Trade Area

When it comes into effect in stages over the next several months and years, the AfCFTA will cover a market of more than 1.2 billion people and up to $3 trillion in combined GDP… On its completion, the AfCFTA will become the largest free trade area in the world since the establishment of the World Trade Organization.

Read Here | Foreign Policy

The Huawei Ban Could Crush U.S. Overseas Aid Efforts

A new U.S. law designed to keep Chinese telecommunications companies out of American networks is threatening to delay, disrupt, or kill vital U.S. military, diplomatic, and aid programs, particularly in Africa and Asia, where Chinese telecoms are the only game in town.

Read Here | Foreign Policy

China-Africa Trade Takes Big Hit From Coronavirus In First Half

Two-way trade between China and Africa fell 19.3 per cent in the first half of the year to US$82.37 billion as coronavirus ravaged economies and cut demand for commodities. China, one of the biggest importers of raw materials from Africa, including copper, cobalt and oil, cut its imports from the continent by 31 per cent while its exports to Africa fell by 8.3 per cent.

COVID-19 Poses Formidable Threat For Fragile States In The Middle East and North Africa

COVID-19 will trigger a sharp drop in household incomes in Middle East and North African (MENA) countries that are fragile and in conflict situations, such as Afghanistan, Djibouti, Iraq, Lebanon, Sudan, and Somalia. As export earnings suffer and social distancing reduces domestic activity, incomes will decline—especially for informal and low-skilled workers, including within large internally displaced populations and refugees.

Read Here – IMF

Africa Has A Question For Beijing: Will You Forgive Us Our Debt?

African states expect a devastating impact on their economies this year from the Covid-19 pandemic and are appealing for relief from repayments on billions of dollars in outstanding debt to cope. Most of those appeals involve China, the biggest lender to the continent, but it is unclear how Beijing will respond.

Read Here – South China Morning Post

How The Coronavirus Pandemic Has Trapped China’s Belt And Road Initiative Between A Rock And A Hard Place

Either Beijing will find innovative ways that benefit debtor nations or it will be seen as just another predatory lender in a long history of empire builders. The backlash to China’s presence in lands around the world will soon follow, along with fractured political and economic relationships that become difficult, if not impossible, to mend.

Read Here – South China Morning Post

The Edge That Indian Companies Could Wield In Africa

Indian companies have a head-start in translating those growth trends into profitable, sustainable enterprises. From deep experience in their home market, they know how to overcome the challenges that limit markets and make life harder for ordinary people. Africa should be high on the agenda of Indian companies targeting global growth. Their innovations and investments can create both outsize returns and real social impact.

Read Here – Mint

New Delhi Begins Expanding Its Diplomatic Footprint In Africa

India has begun to implement plans to expand its diplomatic footprint across resource-rich Africa, appointing ambassadors to countries where previously it had no representation, such as Djibouti and Burkina Faso. New Delhi seeks to extend its diplomatic reach to 47 out of 54 African nations, up from the existing 29, with the new appointments.

Read Here – Mint

Red Sea Rivalries

Gulf states with deep pockets and big appetites are asserting themselves in the Horn of Africa as never before. The flurry of new economic and military investments is reshaping geopolitical dynamics on both sides of the Red Sea, as two formerly distinct regions are fast becoming one.

Read Here – Foreign Affairs

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