Country, estimated to be owed up to $1.5trn, is increasing penalties for late payments and cutting back on infrastructure projects
China has become the world’s biggest debt collector, as the money it is owed from developing countries has surged to between $1.1tn and $1.5tn, according to a new report. An estimated 80% of China’s overseas lending portfolio in the global south is now supporting countries in financial distress.
To mitigate the risk of future defaults, Chinese policymakers have introduced a number of measures, including reducing loans for infrastructure projects while ramping up. In 2015, infrastructure project lending accounted for more than 60% of China’s loan portfolio. By 2021, the share was just over 30%, with emergency lending accounting for nearly 60%.
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