Indebted to China
China has become the largest source of development finance globally. What are the facts?
May 8, 2024
China has become the largest source of development finance globally, having committed more than $1.3 trillion since 2000.
China is owed more than $1 trillion through its Belt and Road Initiative – making it the biggest debt collector in the world.
China has committed aid and credit to fund almost 21,000 projects across 165 countries.
The total outstanding debt at $1.1 trillion and 80% of China's lending in the developing world was made to countries in debt distress.
International aid from official donors in the OECD was roughly $223 billion in 2023, up from $211 billion in 2022.
In 1992, China had more influence capacity than the United States in 33 countries, while the United States retained an advantage in 160 countries.
By 2020, Chinese influence capacity had surpassed U.S. capacity in 61 countries, while the U.S. lead had dropped to 140 countries.
Sources: AidData/The Economist/RFI/Atlantic Council/OECD
Takeaways
China has become the largest source of development finance globally. What are the facts?
Author
The Globalist
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