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NYT Columnist Argues China’s Inexperience in Managing a Debt Crisis Poses Systemic Risk for the Global Economy

by Eric Olander

While rapidly deteriorating economic conditions in developing countries is major news around the world, it barely registers in the United States. So, it was notable on Friday when New York Times Columnist Peter Coy dedicated an entire opinion piece to the issue of Chinese debt.

Coy singled out China for its role in the crisis, suggesting Beijing plays a disproportionately important role given that it’s the world’s largest bilateral creditor to developing countries but still largely refuses to abide by Western-led standards for international debt relief. 

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