. @JKynge:"What was conceived as world’s biggest devlopmnt program is unravelling into what could become China’s first overseas debt crisis.Lending by🇨🇳financial institutns that drive BRI...has fallen off a cliff & BJ finds itself mired in debt renegotiatns. https://www.ft.com/content/d9bd8059-d05c-4e6f-968b-1672241ec1f6
China pulls back from the world: rethinking Xi’s ‘project of the century’

Chinese overseas lending has fallen sharply amid a reassessment of the Belt and Road Initiative

https://www.ft.com/content/d9bd8059-d05c-4e6f-968b-1672241ec1f6
"Btwn 2008-19, two Chinese banks lent $462bn, just short of $467bn extended by World Bank, acc to the Boston Uni data. In some years, lending by Chinese policy banks was almost equivalent to that by all 6 of world’s multilateral financial institutions."
China's overseas lending collapses.
Will there be debt for equity swaps? "Alongside Xi in successive portraits were authoritarian leaders of countries w/ big debts & “junk” credit ratings, such as Alexander Lukashenko of Belarus, Hun Sen of Cambodia, Aleksandar Vucic of Serbia, Uhuru Kenyatta of Kenya & others."
You can follow @TheresaAFallon.
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