As dollar borrowing costs soar, Chinese rates are approaching record lows. This divergence, combined with the US-China thaw, creates an opportunity for African governments: partner with the US on gas and with China on solar and storage, and tap lower-cost Asian capital markets to finance investments in both.
WASHINGTON, DC—Chinese President Xi Jinping’s state visit to the US produced a two-month extension of the current bilateral trade truce—and little else. Nonetheless, both leaders signaled that they want a more stable relationship ahead of the Asia-Pacific Economic Cooperation summit in Shenzhen in November and the G20 in Miami in December. This creates an opportunity for emerging and developing economies in Africa and elsewhere.
