Amid a looming global economic crunch driven in part by a slowdown in China, a recalibration of Beijing’s footprint in Africa and deepening tensions with the West, many African governments are asking questions about what direction the relationship between their countries and China will take in the next couple of years.
With U.S. President Joe Biden’s latest escalation of the U.S.-China trade war, it’s clear the world is a far cry from the “Golden Age” of economic globalization that marked the 1990s and early 2000s. So how did globalization’s “golden age” come to a halt? Three major factors contributed to the global economy’s fragility.
Last week, the U.S. Department of Commerce issued new regulations restricting the sale of semiconductors and cutting-edge chip-making equipment to China. For while the implementation of these far-reaching measures will require international cooperation, Beijing’s technology ambitions are still set to hit rougher waters.
Last month, Indonesian President Joko “Jokowi” Widodo noted that the country’s first-ever presidency of the G-20 in 2022 was a sign of its growing global stature. The remarks spoke to how Jokowi is walking a fine line between selectively engaging abroad, while also seeking to advance his immediate policy priorities at home.