Poorest 750 nations face ‘tidal wave’ of debt repayments to China in 2025, study warns
www.theguardian.com
Vulnerable countries to pay record $22bn this year, mostly relating to loans issued under Xi Jinping’s belt and road initiative

Vulnerable countries to pay record $22bn this year, mostly relating to loans issued under Xi Jinping’s Belt and Road Initiative

The most vulnerable nations on Earth are facing a “tidal wave” of debt repayments as a Chinese lending boom starts to be called in, a new report has warned.

The analysis, published on Tuesday by Australian foreign policy thinktank the Lowy Institute, said that in 2025 the poorest 75 countries were on the hook for record high debt repayments US$22bn to China. The 75 nations’ debt formed the bulk of the total $35bn calculated by Lowy for 2025.

“Now, and for the rest of this decade, China will be more debt collector than banker to the developing world,” the report said.

The pressure to repay was putting strain on local funding for health and education as well as climate change mitigation.

    • cygnus@lemmy.ca
      14·
      5 days ago

      “China” has been colonialist for ~3000 years. The entire region has been a series of colonial projects since the dawn of civilisation. I can’t even think of a period when they weren’t colonialist.

      Edit: I don’t mean to single out China here – my point is that nearly everyone is colonialist and has been for a very long time, so any state saying they are not colonialist is most likely lying.