China's Expanding Role in Global Bailouts and Lending
TL;DR Summary
China is emerging as a new heavyweight in providing emergency funds to debt-ridden countries, catching up to the IMF as a lender of last resort. China has been helping countries that have either geopolitical significance or lots of natural resources. China provided $40.5 billion in emergency loans to distressed countries in 2021, compared to the IMF's $68.6 billion. China's emerging position as a lender of last resort reflects its evolving status as an economic superpower at a time of global weakness.
- After Doling Out Huge Loans, China Is Now Bailing Out Countries The New York Times
- China's debt-heavy local governments look for new ways to raise cash CNBC
- Beijing Borrows at Fastest Pace on Record Bloomberg Television
- China spent $240 bln bailing out 'Belt & Road' countries, study shows Reuters
- China Boosts Lending to Struggling Belt and Road Borrowers The Wall Street Journal
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