The Chinese Have Lent More Money To The World Than The World Bank, The IMF, And All OECD Creditor Governments Combined
While China’s role in global trade is highly publicized and politically polarizing, its growing influence in international finance has remained more obscure, mostly due to a lack of data and transparency. Over the past two decades, China has become a major global lender, with outstanding claims now exceeding more than 5% of global GDP. Almost all of this lending is official, coming from the government and state-controlled entities.
Our research, based on a comprehensive new data set, shows that China has extended many more loans to developing countries than previously known. This systematic underreporting of Chinese loans has created a “hidden debt” problem – meaning that debtor countries and international institutions alike have an incomplete picture on how much countries around the world owe to China and under which conditions.
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WNU Editor: The Chinese have lent $1.5 trillion dollars to the world. That is a lot of leverage.
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The Chinese Have Lent More Money To The World Than The World Bank, The IMF, And All OECD Creditor Governments Combined
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Reviewed by crazy
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