Sovereign Debt Restructuring in Zambia: The Chinese Approach

Date & Time: January 5, 2024 (Friday) 12:30 – 13:30
Venue: Room 723, 7/F, Cheng Yu Tung Tower, The University of Hong Kong (In-person)
Language: English

This talk provides a thorough exploration of China’s strategies and methodologies in sovereign debt restructuring, focusing on Zambia as a key example. It aims to shed light on the mechanisms and negotiations China, as a significant global creditor, employs in its debt restructuring agreements, particularly in Africa.

The talk begins with an in-depth analysis of Zambia’s situation, highlighting the negotiation tactics and agreement terms between Zambia and China. This specific case not only reflects China’s approach with one country but also sets the stage for a wider discussion on China’s role in Africa. The talk then expands to assess China’s lending dynamics across the African continent, examining the patterns, similarities, and differences in its lending practices. These insights reveal the underlying motives and implications of China’s financial interactions in Africa. Additionally, the talk situates China within a global context, acknowledging its status as the world’s largest official creditor. It critically evaluates China’s decision to remain outside the Paris Club and explores its tendencies towards either coordinated or unilateral approaches in debt restructuring.

Speaker:
Charles Ho Wang Mak is an award-winning scholar. He is a Lecturer in Law at Robert Gordon University, a PhD Candidate in law at the University of Glasgow, a Fellow at the Stanford-Vienna Transatlantic Technology Law Forum at Stanford Law School, a Fellow of the Centre for Chinese and Comparative Law at the City University of Hong Kong, a Leslie Wright Fellow at the Philip K.H. Wong Centre for Chinese Law at the University of Hong Kong (HKU) (2022), an Honorary Fellow of the Asian Institute of International Financial Law at the HKU, a Research Affiliate at SovereigNet at The Fletcher School, Tufts University, and a Research Associate at China, Law and Development Project at the University of Oxford. He taught Commercial Law, Business Organisations, and Common Law System and Method at the University of Glasgow. His research concentrates on sovereign debt restructuring, technology law and dispute resolution. He has also published extensively in reputable journals, including Trusts & Trustees and the Asian Journal of International Law.