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Incompetence, Inexperience to Blame For China’s Bad Loans in Global South, More Than Any “Plot to Enslave Poor Countries,” Argues Professor

The prominent expert on Chinese finance, Michael Pettis, is the latest scholar to challenge the popular narrative that China engages in predatory lending abroad. Instead, the Peking University professor attributes the surge of Chinese loans to less developed countries on “inexperience” and “bad lending practices.”

Pettis explained in a four-part Twitter thread that China’s pattern of exuberant lending was also not unique:

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