Tag: debt trap
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Why Biden’s Use of ‘Debt Trap’ Was so Awkward
This weekend, U.S. President Joe Biden made clear that, no matter how often it’s debunked, the “debt trap” will never die. Without recapping the entire debate, the talking point implies that Global South countries work with China because they’re ill-informed or have ...
All it Takes is a Simple Google Search to Confirm the China Debt Trap Meme Isn’t Real
President Joe Biden's latest reference to Chinese "debt traps" is part of a broader pattern among high-level U.S. legislative, government and military officials to level the charge against China's lending practices. It's odd that they continue to make the claim since it's been ...
Nigerians’ (Misplaced) Anxiety About Chinese Debt
For years, Nigerian politicians and media reports have issued breathless warnings about the dangers of becoming too indebted to China, fearing the dreaded "debt trap" and the risk of surrendering the country's strategic assets. While ...
Understanding China’s Role in the Developing World Debt Crisis (Part 2)
The widely debunked Chinese debt trap narrative re-surfaced again in Washington, D.C. when the top U.S. military commander for Africa General Michael Langley testified before Congress -- highlighting the urgent need for better information about Chinese lending practices in developing countries. ...
It’s China, Not Africa That Could be Facing a Debt Trap: Report
At 12% of Africa’s total external debt, China didn’t cause the current wave of debt distress hitting the continent. But the crisis presents Beijing with a dilemma: should it strongarm these countries to get its money back or trade economic losses for diplomatic gains? ...
New Report Debunks Chinese Debt Trap Narrative in Sri Lanka
The Chinese debt trap narrative was started based on the purported surrender of the Port of Hambantota in Sri Lanka. When Colombo fell behind in its payments to the China Exim Bank for the loan, the story goes, Beijing seized the ...
The Indian Pundit Who Created the Discredited Chinese “Debt Trap” Meme is Still Convinced He’s Right
The creator of the widely-debunked Chinese "debt trap" meme is at it again with a new litany of breathless warnings about the risks developing countries take on when they borrow money from China. Indian pundit ...
How Will the Debt Crisis Affect China’s Image as a Development Partner?
By Lukas Fiala As the debt crisis across the Global South accelerates, many commentators are weighing in on the drivers and implications of repayment difficulties and defaults. Unsurprisingly, as a major bilateral creditor to many governments across the developing world, China is ...
Week in Review: Kenya Elections, Zambian Debt & Blinken’s Africa Tour
The Chinese government pushed back this week against the U.S. and its new foreign policy strategy for Africa. The Foreign Ministry dismissed Washington's emphasis on democracy as mere rhetoric, while the railways, roads, and other infrastructure that China's built speak for ...
China Refines Its Rebuttal to Persistent Debt Trap Accusations
No matter how often the Chinese debt trap narrative is refuted by leading scholars around the world, policymakers in the U.S. and Europe seem unable to resist using the trope to frame China's engagement in Africa and other developing regions.
Chinese Foreign Ministry Claps Back at Latest U.S. Debt Trap Accusation
The seemingly never-ending dispute over supposed Chinese debt traps in Africa flared anew on Monday when Foreign Ministry Spokeswoman Hua Chunying launched a lengthy rebuttal to the latest accusation on the issue by a senior U.S. government official. Last week, prior ...
Chinese Lending Poses “Serious Danger” to Poor Countries Warns German Chancellor
German Chancellor Olaf Scholz became the latest Western leader to warn about the purported systemic risks to the global economy posed by Chinese lending to developing countries. Chancellor Scholz addressed the issue at an event in Stuttgart ...