US Edition‘Clock has hit midnight’: China loans pushing world’s poorest countries to brink of collapse
- Poor countries face economic instability and collapse under the weight of China's foreign loans, and debt is consuming an ever-greater amount of tax revenue needed for basic necessities like schools, electricity, food and fuel.
- Chinese reluctance to forgive debt, extreme secrecy about how much money it has loaned, and hidden escrow accounts have prevented other major lenders from helping. Two countries, Zambia and Sri Lanka, have already defaulted, and experts predict more defaults and political upheavals unless China softens its stance on taking big losses on its loans.
53 Articles
53 Articles
China’s loans pushing world’s poorest countries to brink of collapse
A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China. An Associated Press analysis of a dozen countries most indebted to China — including Pakistan, Kenya, Zambia, Laos and Mongolia — found paying back that debt is consuming an ever-greater amount of the tax revenue needed t…
Beyond Local: China's loans pushing world’s poorest countries to brink of collapse
A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China.
Beyond Local: China's loans pushing world’s poorest countries to brink of collapse
A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China.
Beyond Local: China's loans pushing world’s poorest countries to brink of collapse
A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China.
China's loans pushing world’s poorest countries to brink of collapse
A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China. An Associated Press analysis of a dozen countries most indebted to China — including…
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