the China project granted loans for US$240,000 million

the China project granted loans for US$240,000 million

The economic policy of China highlighted its objective of monopolizing the hegemony of the world stage, under the slogan of a “multipolar world”. In this sense, an international report showed that in the last 20 years, the Asian giant turned in loans to developing countries, the figure of 240,000 million dollars.

In this way, China demonstrated that it seeks to intensify international trade, according to its internal market, at the same time that it constitutes a clear demonstration of the expansion of geopolitical interests in key areas of the map, especially in what is considered its ambitious project of the “New Silk Road”.

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China steps up lending to New Silk Road countries

According to the report prepared by the American research laboratory AidData, the World Bank, the Harvard Kennedy School and the Kiel Institute for the World Economythe Asian giant has issued 240,000 million dollars in loans to 22 developing countries at risk of suspension of payments in two decades.

The survey, published this Tuesday, showed that this figure maintained a constant rise, year after year, as proof of Chinese economic power.

Virtually all of these funds went to countries that are part of the program of the New Silk Road, such as Sri Lanka, Pakistan and Türkiye.

Criticism of the project and the Chinese defense

This ambitious project beijingpowered by Xi Jinpingseeks improve trade relations between Asia, Europe and Africathrough the construction of ports, airports, industrial parks and railway infrastructure.

These facilities allow the Asian giant to access other markets and create new destinations for its companies. The report highlighted that these loans have intensified between 2016 and 2021, a period that concentrates 80% of the total amount attributed in 20 years.

This project, to which more than 150 countries adhere, according to Beijing, is criticized internationally for the indebtedness that falls on poor countries. For its part, the Chinese government on Tuesday rejected criticism of this project.

“China (…) has never forced anyone to borrow money, has never forced any country to pay, does not put any political conditions on loan agreements, and has no political interest” in this system, Mao Ning said. , spokesman for the Ministry of Foreign Affairs.

Argentina, member of the New Silk Road

In the middle of last year, Argentina signed the agreement with China, where they will put into play investments for almost 24,000 million dollars.

With the incorporation of Argentina, the Chinese commercial initiative adds 150 member countries. 30 Europeans, 37 Asians, 54 Africans and 14 from Latin America. Bolivia, Chile, Ecuador, Uruguay, Venezuela and Peru represent South Americabesides our country.

The Chinese program has commercial, financial, security and cultural components. It will seek to develop its western markets, stimulate its industrial sectors, open markets and make it easier for other countries adopt their technological standards, such as 5G telephonyin addition to expanding its international presence and influence.

Source: Ambito

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