⏰14 Countries In Debt To China – Time Is Running Out!
In a bid to boost its economic growth, China has been lending to countries all over the world. This Asian economic powerhouse has been one of the fastest-growing economies over the last two decades. China has since become the largest creditor to low and middle-income countries (LMICs), with $180 billion in loans in 2022.
A large portion of this debt went to the countries’ economic development and large infrastructure projects. By providing funding to LMICs, China, in return, gains access to resources that it needs to sustain its economy. This lending strategy also helps foster China’s geopolitical ties with countries in key regions.
Worldbank’s website shows the following countries as having the most debt to China, in billion USD.
