Post #403

China Is Losing Partners Chinese companies abandon one of their oldest allies in Africa 🌐 A 30-year chapter in the relationship between Chinese oil producers and Sudan has come to an end. Against the backdrop of ongoing fighting and the continued advance of the RSF, China’s CNPC is seeking to terminate its existing oil contracts, including its rights to Block 6. 🚩 For China, this is not only a financial loss but a symbolic one. In the 1990s, Sudan was one of the first frontiers of China’s oil expansion, as Beijing anticipated shortages in domestic production amid rapid economic growth. 💰 The financial implications are no less serious. Along with the loss of assets, Chinese analysts are warning that Sudan may soon be unable to service its debts to China. In addition, oil supplies from South Sudan, where CNPC is still present for now, are also under threat. 🔽 Such cases are the inevitable downside of China’s style of economic expansion. While Western investors often flee as soon as conditions stop being comfortable, Chinese companies can afford more stubbornness, backed by state support. But insensitivity to risk can also lead to a grim ending — as Sudan has shown. ➡️ Follow to stay informed - @devilsbelow