American-Chinese debt loop (video) | Khan Academy
American-Chinese debt loop (video) | Khan Academy
7 months ago
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The BRI "debt trap" argument is pure propaganda, John Ross, former director of the Department of Economic and Business Policy of London said at an event in Kunming, Yunnan province on Thursday. | China Daily
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#VantageOnFirstpost: China's local governments owe a whopping $13 trillion in debt, according to a report released by Goldman Sachs. Officials from debt-ridden Chinese provinces Liaoning and Hebei were in Beijing last week for a crisis meeting. They spoke to bankers and discussed ways to restructure their debts. To contain the rising debt, China has advised its local governments to scale back on infrastructure projects. Palki Sharma tells you how this situation is impacting the Chinese economy.
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For those that have done debt traps for some 75 yrs to accuse China of a "debt trap" is really a funny accusation, said Indian geopolitical expert S.L. Kanthan, adding less than 5% of developing nations' external debt is owed to China. "It's really an astonishing & cynical propaganda effort by the West." | China Xinhua News
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