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Forum » Mysteria » Allgemein » Is it burdening poor countries with unsu
Is it burdening poor countries with unsu | |
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geemong Jungspund Posts: 44 |
# 06.01.2022 - 05:06:34 Uhr
Is it burdening poor countries with unsustainable debt? China has faced criticism for its lending practices to poorer countries, accused of leaving them struggling to repay debts and therefore vulnerable to pressure from Beijing. We use the mobile that we use regularly. Use in gambling or slots to earn extra money, play online slots at SLOT ONLINE But that is rejected by China, which accuses some in the West of promoting this narrative to tarnish its image. It says: "There is not a single country that has fallen into [a] so-called 'debt trap' as a result of borrowing from China." What do we know about China's lending? China is one of the world's largest single creditor nations. Its loans to lower and middle-income countries have tripled over the past decade, reaching $170bn (£125bn) by the end of 2020. However, China's overall lending commitments are likely to be significantly greater than these figures suggest. Research by AidData, an international development body at William & Mary University in the US, finds that half of China's lending to developing countries is not reported in official debt statistics. What are 'debt traps' and what's the evidence for them? In an interview with the BBC, Richard Moore, the head of Britain's foreign intelligence agency MI6, said China uses what he called "debt traps" to gain leverage over other countries. The claim is that China lends money to other countries, which end up having to cede control of key assets if they can't meet their debt repayments - an accusation that's been long denied by Beijing. One example often cited by critics of China is Sri Lanka, which years ago embarked on a massive port project in Hambantota with Chinese investment. |
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