China’s emergency support for borrowers from its Belt and Road infrastructure program has ballooned as foreign governments struggle under heavy debts
has ballooned as foreign governments struggle under heavy debts, highlighting the extent of Beijing’s bad loan problem as it works to overhaul its overseas lending strategy.
in distress means Beijing has effectively established a new system for international rescue lending that exists alongside the International Monetary Fund and other Western institutions, according to new research published by the World Bank.
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