Bono could pressure Western lenders to forgive debt back in the day.
But he won’t have any say in Beijing.
Beijing is proving to be much less generous than Bretton Woods system institutions and, as it is the dominant trade partner and investor in the majority of countries, what Beijing wants, it gets.
The Chinese want their pound of flesh – and forgiveness of sovereign debts isn’t an agenda item.
https://www.politico.com/news/2023/04/11/china-lending-imf-world-bank-00090588
Following in the footsteps of Japan and India, the U.S. should establish a dedicated institution to head up its economic and cultural engagement with Southeast Asia. Such a move would give Washington a way to help quiet doubts about its long-term commitment to the region.
China’s application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership free-trade agreement is dead in the water unless its commerce minister, Wang Wentao, agrees to meet his Australian counterpart, Dan Tehan.
David Uren, writing on The Strategist, suggests Dan Tehan could wield his power to Canberra’s advantage.
The View From Berlin
The emergence of the AUKUS – Australia, United Kingdom, United States – pact surprised European Union leaders who have been slow to adapt to fast changing geo-strategic realities.
Viewed from Berlin the emerging strategic and intelligence alliances and accompanying arms race are alarming.
Perhaps reminiscent of the 1930s for Berlin. Or the Cold War.
Der Spiegel, a news magazine that often reflects official thinking in Berlin, has published – in English – an assessment of current developments.
“Chinese warplanes over the Taiwan Strait, nuclear-powered submarines for Australia, hypersonic rockets in North Korea: Military posturing has turned the Far East into a dangerous place.”
Spiegel’s writers note that the current arms race is taking place within a fast evolving set of trading pacts, with Australia the lynchpin linking many different interests.
Aussie Arts & Letters 
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