China has drastically curtailed the overseas lending programme of its two largest policy banks, after nearly a decade of ambitious growth which at its peak rivalled that of the World Bank, new research indicates.

Lending by the China Development Bank and the Export-Import Bank of China collapsed from a peak of $75bn in 2016 to just $4bn last year, according to data compiled by researchers at Boston University and seen by the Financial Times.

Here is the full FT article.  People used to ask me what I think of Belt and Road Initiative (they don’t any more), and there is my answer.

The post China lending fact of the day appeared first on Marginal REVOLUTION.

China lending fact of the day

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