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China is now the biggest debt collector in the developing world, report says (www.npr.org)

submitted 4 days ago by [email protected] to c/[email protected]

43 comments fedilink hide all child comments

China has dramatically curtailed its lending in recent years. Now, it's emerging as the largest debt collector for many of the world's poorest nations — a shift that threatens to undermine poverty reduction efforts and fuel instability, according to a new report.

Lending for China's Belt and Road Initiative — which includes funding for a massive series of new railways, ports and roads in the developing world — began winding down before the COVID-19 pandemic, according to Peak repayment: China's global lending, released this month by Australia's Lowy Institute, a foreign policy think tank. The report points to diplomatic pressure within China to restructure unsustainable debt and to recover outstanding debts from abroad for the change.

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[–] [email protected] 7 points 4 days ago (3 children)

Except they don't get the hospital, they get loaned money to build a hospital, and China expects them to default. Then China takes the hospital.

It's even more obvious when it's a shipping port. You've built a port for China to control.

[–] [email protected] 7 points 4 days ago (1 children)

Here comes the lecture.

[–] [email protected] -3 points 4 days ago (1 children)

No, here comes the truth. Some of you need to hear it.

[–] [email protected] 3 points 4 days ago* (last edited 4 days ago)

The truth is that Americans will call Israelis bombing a hospital in Gaza an act of self defense while China building a hospital in Madagascar is an act of war.

[–] [email protected] 3 points 4 days ago

Right but Western aid has only ever done good right? I mean, that's why South America and Central Africa are booming with industry and lack any serious endemic diseases right? Because the West made sure they would have the same living standards and be seen as truly equal competitors , right?...right?

[–] [email protected] 0 points 4 days ago (1 children)

They don’t care about anything unless it crushes the west.

[–] [email protected] 2 points 4 days ago

Lol the West is doing that all on its own. But keep crying or whatever l.