Jose Miguel Sdera, Chief economist at BFA, dives into the ongoing Lobito Corridor project, highlighting its role in enhancing mineral transport in Angola. He discusses the shift in Angola's alliances, moving from reliance on China and Russia towards the West, underscoring financial diversification. Meanwhile, William Yang sheds light on the geopolitical tensions involving Taiwan amidst Biden's significant visit to Angola, reflecting on the implications for U.S.-China relations. They also touch on the recent political maneuvers, including controversial diplomatic appointments, and their global impact.
Joe Biden's visit to Angola reflects a strategic shift in U.S. foreign policy aimed at enhancing economic ties and countering China's influence in Africa.
Taiwan's President Lai Ching-te's diplomatic tour emphasizes strengthening international alliances amid escalating tensions with China over territorial claims.
Deep dives
US-Angola Relations and the Lobito Corridor
US President Joe Biden's visit to Angola emphasizes strengthening bilateral ties and advancing the Lobito Corridor project, a crucial railway system designed to enhance mineral transportation between Angola and the Democratic Republic of Congo. This initiative is particularly significant for copper producers in the Colwesi region, dramatically reducing transport times from several weeks to merely days. Funded by multiple sources, including the US and the EU, the project represents a shift in Angola's international relationships, moving away from its historically close ties with China. The visit signals US intentions to compete with China’s influence in Africa, highlighting Angola's desire to diversify its economic partnerships.
Taiwan's Diplomatic Moves and China's Response
Taiwan's President Lai Ching-je is engaging in a diplomatic tour of the Pacific to bolster relations with the few countries that recognize Taiwan's independence. His trip, which includes stops in key US territories, is aimed at reaffirming Taiwan's commitment to the U.S. Indo-Pacific strategy amidst growing tensions with China. In response, Beijing has reacted strongly to U.S. support for Taiwan, increasing military exercises around the island and condemning arms sales to enhance Taiwan’s defense. This situation underscores the delicate balance of territorial claims and international alliances in the region, raising concerns about future stability.
Controversy Surrounding Trump's Ambassador Pick
Charles Kushner, a controversial figure convicted of complex financial crimes, has been nominated as the US ambassador to France by Donald Trump, leading to significant public scrutiny and discontent among the French establishment. His appointment is viewed as consistent with Trump's practice of rewarding close associates and campaign donors with key diplomatic positions. Despite lacking traditional diplomatic credentials, Kushner's family ties to the president may offer leverage in U.S.-France relations, although many in France are unconvinced about his suitability. This situation reflects ongoing tensions in international diplomacy, where personal connections often outweigh formal qualifications.
For one of his final international engagements as US president, Joe Biden arrives in Angola, making good on his promise to visit an African country. Another president on tour is Taiwan’s Lai Ching-te, who visits the Marshall Islands after trips to Hawaii and Guam over the weekend. Plus: Monocle’s Paris bureau chief, Simon Bouvier, on Donald Trump’s selection of property developer Charles Kushner – his son-in-law Jared’s father – as US ambassador to France. And we get the latest business news from Bloomberg and look ahead to the Fashion Awards.