Much of the world is indebted to China, But it might be China’s problem as a Covid recession takes hold
As the attached article points out, no one knows China’s actual financial numbers. The country is a black (red?) box. And that is dangerous for the Chinese, their debtors, and the world at large. (Good for cronies though.)
(From The South China Morning Post)
“The Chinese government considers the details of its overseas lending programme a state secret. No one really knows the numbers,” said Brad Parks, executive director of AidData, part of the College of William & Mary in Virginia, and co-author of a study on Chinese lending practices released last month by the Centre for Global Development (CGD).