Wednesday, July 24, 2024
PoliticsEastern promises

Eastern promises

It seems that the election of Donald Trump as president of the United States of America is reshaping the global geopolitical scene far beyond anticipation. In one sweeping decision, in July, President Trump slapped a tariff on Chinese goods thus heralding the beginning of trade war which is expected to go worse in the coming years. Nowadays, the US foreign policy seems to be slowly shifting away from war on terror to another war – trade war. According to commentators, African could be a major battle ground in the coming years; nevertheless, the early signs are already there with the two superpowers –China and the US – competing for investment and support and by extension expand their sphere of influence on the continent. A few months ago, the Chinese made a financial commitment of USD 60 billion for Africa which was matched by the US weeks after, following Congress’s decision to pass what is called BUILD ACT entailing USD 60 billion in financing for LDCs. Fast forward to this week, another Chinese gesture: a Chinese funded building in Addis Ababa. Pictured above are Chinese Foreign Minister Wang Yi and MoussaFakiMahamat, Chairperson of AUC, inaugurating the Integrated Service Center Project.

[speaker]
- Advertisement -spot_img

Subscribe

- Advertisement -

Popular

More like this
Related

Ethiopian Chamber ends six year assembly hiatus, elects new president

The Ethiopian Chamber of Commerce and Sectoral Association (ECCSA)...

Administrative vacuum exposes Majang forest reserve to wide axes

The Majang Forest Biosphere Reserve, a UNESCO recognized and...

Ministry confirms Sudan war nearing Ethiopian border

Gedaref replaces Khartoum as center of operations The Ministry of...

NBE green lights investment licensing for commercial banks as ESX nears debut

Central bank Governor Mamo Mihretu has given the go-ahead...