{"id":59676,"date":"2023-11-07T08:00:50","date_gmt":"2023-11-06T23:00:50","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2023\/nov\/06\/china-worlds-biggest-debt-collector-as-poorer-nations-struggle-with-its-loans"},"modified":"2023-11-07T08:00:50","modified_gmt":"2023-11-06T23:00:50","slug":"china-worlds-biggest-debt-collector-as-poorer-nations-struggle-with-its-loans","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=59676","title":{"rendered":"China \u2018world\u2019s biggest debt collector\u2019 as poorer nations struggle with its loans"},"content":{"rendered":"<p>Country, estimated to be owed up to $1.5trn, is increasing penalties for late payments and cutting back on infrastructure projects <\/p>\n<p>China has become the world\u2019s biggest debt collector, as the money it is owed from developing countries has surged to between $1.1tn (\u00a3889bn) and $1.5tn, according to a new report. An estimated 80% of China\u2019s overseas lending portfolio in the global south is now supporting countries in financial distress.<\/p>\n<p>Since 2017, China has been the world\u2019s <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0022199621001197#:~:text=However%20total%20lending%20amounts%20have,all%20Paris%20Club%20Governments%20combined.\">biggest<\/a> bilateral lender; its main development banks issued nearly $500bn between 2008 and 2021. While some of this predates the <a href=\"https:\/\/www.theguardian.com\/cities\/ng-interactive\/2018\/jul\/30\/what-china-belt-road-initiative-silk-road-explainer\">belt and road initiative<\/a> (BRI), Beijing\u2019s flagship development programme has mobilised much of the investment in developing countries.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2023\/nov\/06\/china-worlds-biggest-debt-collector-as-poorer-nations-struggle-with-its-loans\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Country, estimated to be owed up to $1.5trn, is increasing penalties for late payments and cutting back on infrastructure projects China has become the world\u2019s biggest debt collector, as the money it is owed from developing countries has surged to betw&#8230;<\/p>\n","protected":false},"author":3580,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[401,41,412,361,50,59,1086,42],"tags":[],"class_list":["post-59676","post","type-post","status-publish","format-standard","hentry","category-africa","category-asia-pacific","category-belt-and-road-initiative","category-cambodia","category-china","category-global-development","category-kenya","category-world-news"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/59676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/3580"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59676"}],"version-history":[{"count":1,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/59676\/revisions"}],"predecessor-version":[{"id":59677,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/59676\/revisions\/59677"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}