Category: Kevin Gallagher

China becomes global leader in development finance

Financial Times (subscription required) Kevin Gallagher, College of Arts & Sciences, Pardee School of Global StudiesC China is now a bigger presence in international development finance than all of the world’s six major multilateral financial institutions put together, a new study has found… Expert quote: “China is emerging as the global leader in development finance.” […]

Chinese bullet train in Venezuela stalls as alliance derails

Associated Press Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies It was once billed as a model of socialist fraternity: South America’s first high-speed train, powered by Chinese technology, crisscrossing Venezuela to bring development to its backwater plains… Expert quote: “Now the whole underbelly is falling out. The Chinese right now […]

Venezuela’s crisis: is there a third way?

Financial Times (subscription required) Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies With Venezuela’s government apparently hell bent on steering the country down an accelerating course to disaster, many analysts predict one of two catastrophic outcomes… View full article quoting expert Kevin Gallagher

China faces Catch-22 dilemma over Venezuela debt pile as default looms

Emerging Markets Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies China is fast approaching a crossroads in its relationship with Venezuela, the troubled economy that it has funded to the tune of some $66bn but which is now facing an almost inevitable default, analysts believe… Expert quote: “China has become ensnared […]

LatAm’s new power players: Chinese development banks outgun WB, IDB

Emerging Markets Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Health China’s two big development banks have become genuine power players in Latin America — to the point where they wield as much if not more regional clout than either the World Bank or its regional-focused sibling, the Inter-American Development Bank… Expert […]

China’s ambitions for Asia show through in ‘Silk Road’ lending

Financial Times (subscription required) Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies China’s quest for economic centrality in Asia and its ambition to become a global maritime power are emerging as twin priorities within the “One Belt One Road” (OBOR) initiative, a grand strategic plan through which Beijing hopes to create […]

The End of the Line for Bolivia’s President

Bloomberg View Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies For Bolivia’s Evo Morales, elections have been moments of triumph… Expert quote: “The running joke is that if a Chinese loan is signed in the morning, the shovels will be in the truck by after lunch.” View full article

China overtakes West in development funding to Latin America

The Tico Times Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies The China Development Bank’s $395 million loan to Costa Rica for expanding the highway that links San José to the Caribbean port of Limón is part of a dramatic surge in Chinese financing across Latin America… Expert quote: “While Western development […]

Peru has copper. China wants it. And now Beto Chahuayllo is dead.

Los Angeles Times Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies When the Chinese took over the Las Bambas copper mine here in the Andes Mountains in 2014, Beto Chahuayllo at first barely noticed the change… Expert quote: “Finance ministries loved it, and so did the heads of state.” View full […]