On a three-day visit to Egypt, the Chinese president wants to strengthen the partnership between the two countries as well as undermine US hegemony by revitalising China's presence in the Middle East. The Suez Canal is strategically important to bypass the blockaded strait.
At the second Forum held in Kazakhstan after the one in Xi'an in 2023, China and the five countries in the region signed 58 trade agreements with investments of over $24 billion. Among the priorities are transport routes and energy, but also the processing of rare earths. On the political front, Xi Jinping gained support for his condemnation of all forms of ‘trade wars involving tariffs and sanctions’.
A report by the Lowy Institute highlights that China is expected to receive this year some US$ 22 billion in interest on debt from countries that the UN classifies as most fragile. This figure is far higher than new loans China currently grants per year. For 54 countries, China holds more shares of bilateral debt than all the countries of the Paris Club put together. The numbers are significant also considering the appeal Pope Francis made for debt cancellation on the occasion of the Jubilee.
Today's news: Pyongyang, nuclear weapons are needed ‘in combat’, they are not a bargaining chip; Today the release of three more Israeli hostages held by Hamas, the truce in Gaza holds; UNHCR: since September 2023 Islamabad has expelled over 825 thousand Afghan migrants; Kuala Lumpur withdraws controversial regulation with guidelines for Muslims participating in ‘non-Islamic’ events.
From 4 to 6 September, Beijing is hosting the Forum on China-Africa Cooperation (Focac), the first major post-Covid event in the capital. More and more Chinese companies have developed partnerships and collaborated with governments and businesses on the continent. A response to the protectionist policies of Brussels and Washington, but there is also a ‘dumping’ risk for Africa.
Former Foreign Minister Kamilov analyzes Uzbekistan's role in the region from a stability and development perspective. From the closed borders of the recent past to the process of “rebooting relations,” resulting in increased trade and investment. A return to the days of the Great Silk Road.
On the eve of the meeting between President Boluarte and Xi Jinping, Peru drops its lawsuit over exclusivity. The facility will be inaugurated in November, giving direct access to the region to the largest container ships from Asia. Pressure is building for a new Trans-Amazonian Highway to connect the port to Brazil.
Bishkek and Tashkent ink a memorandum to connect Kashgar to Andijon. This will cut the freight journey to Europe and the Persian Gulf, while bypassing Russia. For the Chinese president, the agreement is "a show of determination,” part of the Belt and Road Initiative.
Former government spokesman Bilal Karimi arrives in Beijing. For China’s Foreign Ministry, further steps are needed for full diplomatic relations. The move comes just weeks after Afghanistan took part in the Belt and Road Initiative Forum.
Sri Lanka is increasingly tying its fragile economy to China. After the debt agreement with the Export-Import Bank of China, Sri Lankan President Wickremesinghe said he was ready to expand the direct corridor with China bypassing India. Xi Jinping’s special envoy, State Counsellor Shen Yiqin, used her visit to the island to "lay out” China’s cards.
Argentina’s upcoming administration is already questioning whether to join the forum of emerging economies on 1 January, backed by Xi Jinping. During the election campaign, Milei had highlighted the gap with China. Beijing's reaction has been cautious so far, which may affect bilateral relations. Last year 92 per cent of Argentina’s soya beans and 57 per cent of its meat went the way of China.
From the Belt and Road Initiative Forum in Beijing, the Russian president does not seem to have brought home any new concrete agreements, only a reaffirmation of Eurasia's challenge to the West. Beijing has increased trade with Moscow by 30% but still does not recognise the annexation of Crimea and other territories. The current Ukrainian quagmire is the ideal situation for China.
At the Beijing Forum, the governor magnified Hong Kong's potential as a financial and logistical hub for countries involved in Xi Jinping's "new thirst road". An attempt to gather "results" to counter the decline that the harsh repression of the 2019 protests and the Covid season have brought with them.
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