The China-Global South Podcast The Development Finance Corporation and the US-China competition in the Global South
Feb 10, 2026
Dan Ford, a Quincy Institute researcher who studies DFC projects, and Karthik Shankaran, a geoeconomics fellow at Quincy, discuss the DFC’s reauthorization and why framing it as a tool to beat China is risky. They cover the Lobito Corridor, limits of development finance against Belt and Road, shifting congressional mandates, and where the DFC could better focus such as energy, critical minerals, and supply chains.
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Competition Framings Reshaped The DFC
- The DFC's reauthorization framed around competing with China has reshaped its mandate toward national security and competition.
- Karthik Sankaran warns this securitization risks sidelining development-focused objectives the agency was created for.
Scale Limits Demand Strategic Focus
- The DFC cannot match China's scale or operating model across the Global South.
- Dan Ford suggests it should instead leverage U.S. comparative advantages like energy and supply-chain expertise.
Lobito Corridor Shows Mixed Ownership Reality
- The Lobito Corridor exemplifies mixed ownership: it's funded partly by DFC and built by a firm with Chinese ownership.
- Dan Ford highlights the corridor's development benefits despite it potentially serving Chinese mineral exports.