Latest news with #developingCountries
Fast Company
09-06-2025
- Business
- Fast Company
Unlock Africa's economic potential through open trade
Recent tariff announcements have caused significant disruption across global markets and economies. Subsequent changes and postponements—including negotiations between major economies like China and the U.S.—offer a welcome step towards resolution. But the initial uncertainty has already prompted impacted countries to diversify their trade partnership from long-standing trade allies in order to reduce dependence on a single market. In the short term, this volatility has created a significant headache for business leaders grappling with the costs and pricing of goods and services. However, this very uncertainty also presents unique opportunities, especially for emerging markets, particularly in Africa, to forge new trade relationships and strengthen their economic positions. A rare opportunity for Africa to forge its own path On one hand, escalating trade restrictions could further marginalize developing economies. On the other hand, they present a rare moment for Africa to forge its own path and build a future anchored in the open flow of trade, ideas, innovations, cross-border collaboration, and digital empowerment within its borders. Fortunately, private and public sector leaders on the continent have been actively putting in place measures to further grow trade within itself, both as a powerful engine for economic expansion and as a vital strategy to protect against external shocks such as tariffs. With the African Continental Free Trade Area (AfCFTA) now gaining momentum and a growing digital economy taking shape, the continent has the tools to chart its own course. The AfCFTA has already significantly increased intra-continental trade since its official commencement on January 1, 2021. According to Afreximbank's Africa Trade Report 2024, [1] intra-African trade rose to $192.2 billion in 2023, a 3.2% increase from the previous year, despite global economic challenges. The United Nations Economic Commission for Africa anticipates a 35% increase [2] in intra-African trade by 2045, after AfCFTA is fully implemented. Challenges to increasing intra-African trade Despite the promise of AfCFTA, significant barriers continue to hinder robust intra-African trade, whether through traditional channels or digitally enabled transactions. These challenges include fragmented payment systems, inconsistent regulatory frameworks, and complex cross-border logistics. This has contributed to Africa's historically low intra-African trade, which was about 18% of its total trade in 2022, compared to 59% for Asia and 68% for Europe. [3] Payments are trade's lifeblood Africa must be able to trade with itself quickly, affordably, and securely. When payments move across borders with ease, so do goods, ideas, services, opportunities, and people. This is not just about convenience or merely advocating for fintech adoption; it is about the transformation of how we trade. A trader in Nairobi selling goods to customers in Accra must be able to receive payment as easily, if not easier, than if they were in London or New York. Similarly, a major multinational looking to tap into Africa's young and growing consumer base needs payment systems that handle complex, high-volume transactions just like in their home markets. The future of intra-African trade depends on our ability to make such transactions as intuitive and reliable as the click of a button. When paying and getting paid for intra-African trade becomes seamless, we will see faster growth of regional value chains, a more efficient distribution of locally manufactured goods, and the emergence of more African brands competing globally. Essentially, with the necessary support for an open economy in Africa, we increase not just the volume but also the value of trades within Africa, building economic resilience for shared prosperity. What we must do First, we must ensure payment system interoperability so that businesses can transact seamlessly across borders, without the hindrance of friction or currency barriers. This is critical because, while African countries have developed efficient local payment networks tailored to their needs, these systems do not interact well across borders, limiting our potential to trade more internally and withstand global economic shocks. Second, we need to align policies across governments to create an environment where innovation thrives and cross-border commerce flows effortlessly. This includes, but is not restricted to, a review of policies on customs and barriers to trade, and logistics (inter-country shipping, freight, and flights). Lastly, a critical step involves significant investment in physical infrastructure, particularly in addressing inadequate transportation networks (roads, rail, and ports) and resolving unreliable energy supplies. Together, these efforts will reduce the continent's external dependency, making it easier for businesses to grow within Africa and beyond, creating an economic firewall that protects us from external shocks. Now is the time to double down on openness, not retreat from it; Africa's future depends on it.
Yahoo
30-05-2025
- Business
- Yahoo
PVC Alternatives Explored Amid Rising Costs in Blister Packaging Sector
Blister packaging, favored for its product visibility and ease of use, is advancing with technologies like thermoforming and cold forming. Increased demand for high-barrier films for enhanced protection and the growing packaged foods market in Asia Pacific drive this surge. Food Blister Packaging Market Dublin, May 30, 2025 (GLOBE NEWSWIRE) -- The "Food Blister Packaging Market - Forecasts from 2025 to 2030" report has been added to global food blister packaging market is estimated to grow at a CAGR of 4.08% to attain US$3.84 billion in 2030 from US$3.14 billion in manufacturers who compete in this global market continuously improve the blister packaging format by integrating cutting-edge packaging technologies like thermoforming and cold forming. Additionally, it is anticipated that the need for blister packaging with high barrier film for superior air, moisture, and light resistance will increase in the future, further fueling the expansion of blister packaging manufacturers. The rapid industrialization of developing countries and the increased demand for packaged meat and fruit products are expected to propel market growth. Market Trends: Affordable Packaging Solutions: Polyvinyl Chloride (PVC) is an economical thermoplastic widely valued for its versatility. It offers excellent impact resistance, strong dimensional stability, oxygen permeability, and acts as a barrier against oil and grease. Available in both rigid and flexible forms, PVC is commonly used in blister packaging for items like gum or breath mints and in tubing for food and beverage applications. However, as PVC's price per pound increases due to surging demand, brands are beginning to explore alternative materials. Technological Progress: Advancements in the blister packaging industry are a key driver of market growth throughout the projected period. With rising demand for blister packaging in the food sector, innovations in this field have gained momentum. Asia Pacific: The Asia Pacific region is expected to see significant growth over the forecast timeline. The escalating demand for food and beverage products, particularly in countries such as India, China, Japan, and South Korea, is a primary factor boosting the need for food blister packaging. Additionally, the increasing reliance on e-commerce platforms and growing consumer focus on health and hygiene are further accelerating market growth. Blister packaging provides tamper-proof, quality-assured products, enhancing food hygiene and appealing to consumers. Some of the major players covered in this report include Abhinav Enterprises, Vichare Brothers & Co, Sonic Packaging, Competent Packaging Industries, Vinpac Innovations, Real Packaging, Sudham Packaging Industries, Thermopack, Macpac Ltd., Dongguan Jiasheng Plastic Packaging Products Co. Ltd., and Jiangyin Jiaou New Materials Co., Ltd., among Coverage: Historical data from 2022 to 2024 & forecast data from 2025 to 2030 Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis Competitive Positioning, Strategies, and Market Share Analysis Revenue Growth and Forecast Assessment of segments and regions including countries Company Profiling (Strategies, Products, Financial Information, and Key Developments among others) Global Food Blister Packaging Market Segmentation: By Type Compartment Slide Wallet By Material PVC PVDC PP Others By Technology Cold-Form Thermoformed By Region North America Europe Asia Pacific South America Middle East & Africa Companies Featured Abhinav Enterprises Vichare Brothers & Co. Sonic Packaging Competent Packaging Industries Vinpac Innovations Real Packaging Sudham Packaging Industries Thermopack Macpac Ltd. Dongguan Jiasheng Plastic Packaging Products Co. Ltd. Jiangyin Jiaou New Materials Co., Ltd. Key Attributes: Report Attribute Details No. of Pages 145 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $3.14 Billion Forecasted Market Value (USD) by 2030 $3.84 Billion Compound Annual Growth Rate 4.0% Regions Covered Global For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Food Blister Packaging Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Asharq Al-Awsat
30-05-2025
- Business
- Asharq Al-Awsat
China Forms New Global Mediation Group with Dozens of Countries
Dozens of countries joined China on Friday in establishing an international mediation-based dispute resolution group. Representatives of more than 30 other countries, from Pakistan and Indonesia to Belarus and Cuba, signed the Convention on the Establishment of the International Organization for Mediation in Hong Kong to become founding members of the global organization, following Chinese Foreign Minister Wang Yi. The support of developing countries signaled Beijing's rising influence in the global south amid heightened geopolitical tensions, partly exacerbated by U.S. President Donald Trump's trade tariffs. At a ceremony, Wang said China has long advocated for handling differences with a spirit of mutual understanding and consensus-building through dialogue, while aiming to provide 'Chinese wisdom' for resolving conflicts between nations. 'The establishment of the International Organization for Mediation helps to move beyond the zero-sum mindset of 'you lose and I win,'' he said. The body, headquartered in Hong Kong, aims to help promote the amicable resolution of international disputes and build more harmonious global relations, he said. Beijing has touted the organization as the world's first intergovernmental legal organization for resolving disputes through mediation, saying it will be an important mechanism in safeguarding the principles of the Charter of the United Nations. It also positioned Hong Kong as an international legal and dispute resolution services center in Asia. Wang said the city's rule of law is highly developed, with the advantages of both common law and mainland Chinese law systems, asserting that it possesses uniquely favorable conditions for international mediation, The Associated Press reported. Hong Kong leader John Lee said the organization could begin its work as early as the end of this year. The ceremony was attended by representatives from some 50 other countries and about 20 organizations, including the United Nations. Yueming Yan, a law professor at the Chinese University of Hong Kong, said the new organization is a complementary mechanism to existing institutions such as the International Court of Justice and the Permanent Court of Arbitration in the Hague. 'While the ICJ and PCA focus on adjudication and arbitration, IOMed introduces a structured, institutionalized form of alternative dispute resolution — namely, mediation — on a global scale,' she said. Although many details about the new body are yet to be clarified, it could open the door for greater synergy between formal litigation or arbitration and more flexible methods like mediation, she said. Shahla Ali, a law professor at the University of Hong Kong, said the International Organization for Mediation would have the capacity to mediate disputes between states, between a state and a national of another state, or in international commercial disputes. 'Conventions can provide opportunities to experiment with new approaches," she said, noting rising interest in mediation globally as a means to resolve investor-state disputes.
RNZ News
28-05-2025
- Business
- RNZ News
Lowy report finds Pacific nations 'grappling with a tidal wave of debt repayments' to China
By foreign affairs reporter Stephen Dziedzic , ABC China has lent money to Vanuatu financing new roads for its outer islands. Photo: Facebook / China Civil Engineering Construction Corporation In short: What's next? New research shows that China has emerged as the world's largest creditor for developing nations, which are due to pay back at least $54 billion to Beijing this year. Australian foreign policy think tank the Lowy Institute has crunched data from the World Bank and found some of the world's poorest countries are now facing "record high debt payments" to China . China rapidly boosted investments in infrastructure last decade, funding railways, ports and roads across the developing world under its sprawling Belt and Road Initiative - projects which have often been welcomed by governments across Latin America, Africa, Central Asia and South-East Asia. But the lending has also placed pressure on government balance sheets around the world. Beijing has sharply pulled back lending in the last five to 10 years, but the Lowy Institute's Riley Duke said bills from earlier loans were now starting to land. "China's earlier lending boom, combined with the structure of its loans, made a surge in debt servicing costs inevitable," Duke said. "Because China's Belt and Road lending spree peaked in the mid-2010s, those grace periods began expiring in the early 2020s." "It was always likely to be a crunch period for developing country repayments to China." The problem has been exacerbated by China's move to defer debt repayments during the Covid-19 pandemic, a move which was "helpful at the time" but is now "heightening…the current repayment spike". The picture painted by the report is incomplete, because China typically does not provide data for its loans, and information isn't available for many developed nations. But Duke said it was obvious that developing countries - including in the Pacific - were now "grappling with a tidal wave of debt repayments and interest costs". "Now, and for the rest of this decade, China will be more debt collector than banker to the developing world," he said. "The high debt burden facing developing countries will hamper poverty reduction and slow development progress while stoking economic and political instability risks." Six people were killed and much of the central business district of Tonga's capital Nukuʻalofa was destroyed in the 2006 riots. Photo: ABC / Supplied Pacific nations like Tonga, Samoa and Vanuatu are already grappling with high levels of Chinese debt, and have been pushing Beijing for extensions on their loans . For example, Tonga borrowed heavily from China to rebuild in the wake of the devastating 2006 riots in Nuku'alofa . It has now started gradually repaying loans worth around $190 million - a sum which Lowy says is roughly equivalent to a quarter of its GDP. But those repayments - along with recent natural disasters - have placed significant strain on Tonga's budget, as well as stoking political controversy in the Pacific Island nation. Australia has stepped in with significant financial support to help Tonga balance its books, including an $85m budget support package unveiled earlier this year . The report says that while Chinese institutions are at times willing to push back repayment demands , they've typically been unwilling to forgive debts - which means Beijing often faces a difficult diplomatic balancing act. "Beijing faces a dilemma: pushing too hard for repayment could damage bilateral ties and undermine its diplomatic goals," Duke said. "At the same time, China's lending arms, particularly its quasi-commercial institutions, face mounting pressure to recover outstanding debts." The report said Beijing's preference to kick the can down the road could create new financial dynamics in a host of developing countries. "As a result, China's approach to debt distress increasingly echoes the 'extend and pretend' practices of Western lenders during the 1980s Lost Decade - a period that left many low-income countries deeply indebted and ultimately required sweeping restructurings and write-downs in the 1990s." China's foreign ministry denied Beijing was responsible for developing debt. "China's cooperation on investment and financing with developing countries follows international practice, market principles, and the principle of debt sustainability," spokesperson Mao Ning told reporters on Tuesday, local time. "A handful of countries are spreading the narrative that China is responsible for these countries' debt. "However, they ignore the fact that multilateral financial institutions and commercial creditors from developed countries are the main creditors of developing countries, and the primary source of debt repayment pressure. Lies cannot cover truth and people can tell right from wrong." - ABC
Malay Mail
27-05-2025
- Business
- Malay Mail
From lender to collector, China's US$22b Belt and Road loans are coming home to roost
SYDNEY, May 28 — The world's poorest nations face a 'tidal wave of debt' as repayments to China hit record highs in 2025, an Australian think tank warned yesterday in a new report. China's Belt and Road Initiative lending spree of the 2010s has paid for shipping ports, railways, roads and more from the deserts of Africa to the tropical South Pacific. But new lending is drying up, according to Australia's Lowy Institute, and is now outweighed by the debts that developing countries must pay back. 'Developing countries are grappling with a tidal wave of debt repayments and interest costs to China,' researcher Riley Duke said. 'Now, and for the rest of this decade, China will be more debt collector than banker to the developing world.' The Lowy Institute sifted through World Bank data to calculate developing nations' repayment obligations. It found that the poorest 75 countries were set to make 'record high debt repayments' to China in 2025 of a combined US$22 billion (RM92.5 billion). 'As a result, China's net lending position has shifted rapidly,' Duke said. 'Moving from being a net provider of financing — where it lent more than it received in repayments — to a net drain, with repayments now exceeding loan disbursements.' Paying off debts was starting to jeopardise spending on hospitals, schools, and climate change, the Lowy report found. 'Pressure from Chinese state lending, along with surging repayments to a range of international private creditors, is putting enormous financial strain on developing economies.' The report also raised questions about whether China could seek to parlay these debts for 'geopolitical leverage', especially after the United States slashed foreign aid. While Chinese lending was falling almost across the board, the report said there were two areas that seemed to be bucking the trend. The first was in nations such as Honduras and Solomon Islands, which received massive new loans after switching diplomatic recognition from Taiwan to China. The other was in countries such as Indonesia or Brazil, where China has signed new loan deals to secure battery metals or other critical minerals. — AFP
