Africa doesn’t have to 'pick sides' between US and China
The head of the UK’s development finance body added that prioritizing clean power made it impossible to remove Chinese firms from supply chains.
International development finance bodies are striving to avoid being pinned to either the US or China, despite geopolitical pressures, according to the head of the UK's development finance organization. Leslie Maasdorp, speaking at a Semafor World Economy Global Leaders Dinner in Bangkok, highlighted the complexity of the global development finance landscape.
While Western-led bodies like his own, British International Investment, may inadvertently align with different values than China, promoting clean energy has made it impractical to sever ties with Chinese firms due to their dominance in the sector. This perspective contrasts with the stance of the US Development Finance Corporation, which has expressed a desire to bolster US-aligned infrastructure, particularly in the tech sector, emphasizing that bypassing US-friendly networks would be unwise.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
