Jeremy Stevens
@jeremydms.bsky.social
Economist living in Beijing China working for an African bank. Right now spending time looking at renewable energy in Africa and the role of Chinese firms in this matter. Normally mostly China Macro.
Bot or not, matters not a dot.
December 13, 2024 at 3:45 AM
Bot or not, matters not a dot.
Ha. That’s a risky move.
December 11, 2024 at 2:47 AM
Ha. That’s a risky move.
12/12 Ultimately, collaboration between Chinese SOEs and private firms, alongside Western funding agencies, may be essential for scaling up clean energy projects in Africa.
December 11, 2024 at 2:44 AM
12/12 Ultimately, collaboration between Chinese SOEs and private firms, alongside Western funding agencies, may be essential for scaling up clean energy projects in Africa.
11/12 If Beijing aims to lead in renewable energy and global sustainable development, significant shifts in funding models and risk assessments will be necessary. Its policy tools will need to change to reflect this pivot towards private owned firms.
December 11, 2024 at 2:44 AM
11/12 If Beijing aims to lead in renewable energy and global sustainable development, significant shifts in funding models and risk assessments will be necessary. Its policy tools will need to change to reflect this pivot towards private owned firms.
10/12 Chinese private solar investments in Africa are market-seeking but face significant challenges, including policy uncertainty and political instability
December 11, 2024 at 2:44 AM
10/12 Chinese private solar investments in Africa are market-seeking but face significant challenges, including policy uncertainty and political instability
9/12 However, the profit model for solar investments in Africa presents risks not aligned with the risk metrics of Chinese state-owned enterprises (SOEs). And
December 11, 2024 at 2:44 AM
9/12 However, the profit model for solar investments in Africa presents risks not aligned with the risk metrics of Chinese state-owned enterprises (SOEs). And
8/12 clearly then most African countries cannot meet their financing needs, with utilities lacking investment-grade ratings. Here Chinese investments and private capital are becoming key sources of finance.
December 11, 2024 at 2:44 AM
8/12 clearly then most African countries cannot meet their financing needs, with utilities lacking investment-grade ratings. Here Chinese investments and private capital are becoming key sources of finance.
7/12 Renewable energy presents a pathway to leapfrog traditional infrastructure, but integrating these resources into existing grids poses challenges. Mini-grids and off-grid solar are emerging, yet markets remain weak and fragmented
December 11, 2024 at 2:44 AM
7/12 Renewable energy presents a pathway to leapfrog traditional infrastructure, but integrating these resources into existing grids poses challenges. Mini-grids and off-grid solar are emerging, yet markets remain weak and fragmented
6/12 The reach of power grids is inadequate, with old transmission lines and an average of 8.6 hours of power outages per month. It’s probably worse than that. Many firms rely on costly generators, further eroding their competitiveness.
December 11, 2024 at 2:44 AM
6/12 The reach of power grids is inadequate, with old transmission lines and an average of 8.6 hours of power outages per month. It’s probably worse than that. Many firms rely on costly generators, further eroding their competitiveness.
5/12 Currently, half of SSA's population relies on biomass for cooking, leading to an estimated one million deaths annually. This reliance results in the region's GDP being the most polluting per unit in the world.
December 11, 2024 at 2:44 AM
5/12 Currently, half of SSA's population relies on biomass for cooking, leading to an estimated one million deaths annually. This reliance results in the region's GDP being the most polluting per unit in the world.
4/12 yet, reliable energy access is essential for achieving 125 of the 169 Sustainable Development Goals. It’s a precursor. Today, SSA has the lowest per capita electricity usage globally—just 10% of East Asia's levels. Around 600 million people do not have access to energy.
December 11, 2024 at 2:44 AM
4/12 yet, reliable energy access is essential for achieving 125 of the 169 Sustainable Development Goals. It’s a precursor. Today, SSA has the lowest per capita electricity usage globally—just 10% of East Asia's levels. Around 600 million people do not have access to energy.
3/12 To address the infrastructure deficit, about $150 billion per year is needed, with 40% of that in energy. Again, here the numbers vary but what is certain is that public budgets have been strained by a series of shocks, limiting their ability to invest and even borrow at scale.
December 11, 2024 at 2:44 AM
3/12 To address the infrastructure deficit, about $150 billion per year is needed, with 40% of that in energy. Again, here the numbers vary but what is certain is that public budgets have been strained by a series of shocks, limiting their ability to invest and even borrow at scale.
2/12 Sub-Saharan Africa's infrastructure is notoriously inadequate. The numbers vary but consensus seems to be that energy poverty is constraining GDP growth by 2 percentage points annually and reducing productivity by 40%. This is a key reason why the region = for just 2% of global value-added.
December 11, 2024 at 2:44 AM
2/12 Sub-Saharan Africa's infrastructure is notoriously inadequate. The numbers vary but consensus seems to be that energy poverty is constraining GDP growth by 2 percentage points annually and reducing productivity by 40%. This is a key reason why the region = for just 2% of global value-added.
It raises interesting questions about how mindset influences development and national identity. How do you perceive your country’s potential?
December 10, 2024 at 11:10 AM
It raises interesting questions about how mindset influences development and national identity. How do you perceive your country’s potential?
Is this a statement about in national attitudes towards ambition and achievement? Often we, in South Africa or other developing countries, see success as occurring despite the system. As extraordinarily. Here, perhaps because success is so widespread (in terms of numbers) that it’s less exceptional
December 10, 2024 at 11:10 AM
Is this a statement about in national attitudes towards ambition and achievement? Often we, in South Africa or other developing countries, see success as occurring despite the system. As extraordinarily. Here, perhaps because success is so widespread (in terms of numbers) that it’s less exceptional
And, in many respects, it is realistic for China - its people, its businesses, its UFC fighters - to aspire to be a leader in various sectors, given its resources and capabilities.
December 10, 2024 at 11:10 AM
And, in many respects, it is realistic for China - its people, its businesses, its UFC fighters - to aspire to be a leader in various sectors, given its resources and capabilities.
China, as a singular thing, which it obviously isn’t, recognizes challenges ahead, but they do seem to believe that they are or will be at the forefront and top-tier globally in a wide arc of things. It’s just a matter of time.
December 10, 2024 at 11:10 AM
China, as a singular thing, which it obviously isn’t, recognizes challenges ahead, but they do seem to believe that they are or will be at the forefront and top-tier globally in a wide arc of things. It’s just a matter of time.
This absence is true in many developing countries. Sure, some people believe in South Africa or Ghana or Kenya that they can be anything and that hard work pays off, but as a group, we don’t collectively share this belief in the same way.
December 10, 2024 at 11:10 AM
This absence is true in many developing countries. Sure, some people believe in South Africa or Ghana or Kenya that they can be anything and that hard work pays off, but as a group, we don’t collectively share this belief in the same way.
And, he makes the point that now that he is no longer living here anymore he notices that this conviction isnt present everywhere else.
December 10, 2024 at 11:10 AM
And, he makes the point that now that he is no longer living here anymore he notices that this conviction isnt present everywhere else.
The mindset is: if China isn’t the best, it can be—with hard work and effort. This attitude permeates daily life and conversations. It is a cornerstone of many aspects of society.
December 10, 2024 at 11:10 AM
The mindset is: if China isn’t the best, it can be—with hard work and effort. This attitude permeates daily life and conversations. It is a cornerstone of many aspects of society.
He quickly explains that he doesn’t mean this in a triumphant fist pumping rampant nationalism; rather, he explains that it’s a generalized common belief and confidence that China can excel in any field.
December 10, 2024 at 11:10 AM
He quickly explains that he doesn’t mean this in a triumphant fist pumping rampant nationalism; rather, he explains that it’s a generalized common belief and confidence that China can excel in any field.
🌱 12/12 President Xi Jinping announced ten partnership actions focused on green development, committing to 30 clean energy projects in Africa and enhancing disaster management efforts. #GreenPartnerships
December 10, 2024 at 9:10 AM
🌱 12/12 President Xi Jinping announced ten partnership actions focused on green development, committing to 30 clean energy projects in Africa and enhancing disaster management efforts. #GreenPartnerships