日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Summer Davos 2023

'Debt traps' false criticism of lending

By OUYANG SHIJIA in Tianjin | CHINA DAILY | Updated: 2023-06-29 10:19
Share
Share - WeChat
A logo of the Belt and Road is seen in Shanghai. [Photo/VCG]

Big gap exists in providing emerging economies with sustainable funds

China's international lending and the Belt and Road Initiative have contributed to the world's growth instead of creating "debt traps" for other countries, experts and officials attending the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, said in Tianjin on Wednesday.

Jin Keyu, associate professor of economics at the London School of Economics and Political Science, told a forum during the meeting on Wednesday that while there still exists a big gap in providing long-term sustainable financing for developing countries, China has stepped up and played a positive role.

Jin said developing countries should be able to borrow in bad times, and the fundamental problem in the international financial system — which is the international credit cycle — is that it is pretty much based on US monetary policy.

"This is also a place where China can play a role (with) China being the second-largest economy and not in a synchronized credit cycle with the US, which is often a big provider to emerging market liquidity."

Sri Lankan Minister of Foreign Affairs Ali Sabry said at the same forum that China's international investment has played a major role in some countries like Sri Lanka, as China actively invested in Sri Lanka during the latter's difficult times.

He added that China's international funding is key to the development of the developing world and global growth overall.

When it comes to claims that China-proposed BRI has been used as a tool to create debt traps for recipient countries, Jin told China Daily on the sidelines of the meeting on Wednesday that this is a completely wrong take on Chinese lending practices.

"The majority of debt in emerging markets is owed to Western institutions, multilateral institutions and financial institutions, including private creditors — not to China," Jin said. "China has provided stable financing for infrastructure and developmental goals for emerging markets."

Jin added that China's international lending practices have substantially evolved during the past decade, including lending standards and transparency.

"So this is not a debt trap," she said. "Emerging-market debt problems have been a time-honored, historical problem, even before China came on the scene. So, it has nothing to do with that. China is trying to help. Of course, it can do better with greater transparency and international coordination."

Looking ahead, she said there has to be a different kind of common framework with more emerging market representation, of which China is the leader.

"Going forward, Western countries have to recognize that the rules of their game have to be adjusted, not only to meet modern and contemporary standards, but also get closer to the market, involving private creditors and incentivizing China to play a greater role."

During the past decade, China has made considerable progress in terms of facilitating high-quality development related to the BRI.

"Over three-quarters of countries and major international organizations have joined the initiative," Liang Linchong, deputy director of the Department of Regional Opening-up at the National Development and Reform Commission, said at another forum on Tuesday during the Summer Davos Forum.

Liang said the BRI has contributed to the prosperity of the global economy. For instance, China and other countries involved in the BRI have built economic and trade cooperation zones, creating more than 400,000 jobs for locals.

Under the framework of the BRI, China and other countries involved in the initiative have built a wide range of infrastructure projects key to people's livelihoods such as hospitals and schools, which not only promote economic growth and generate jobs but also improve people's lives, he added.

To further facilitate the high-quality development of the BRI, he said China will work with related countries to further deepen interconnections by focusing on infrastructure projects, further expanding institutional opening-up, continuously enhancing standardization cooperation in the field of financing, trade, energy, digitalization and agriculture as well as building more livelihood projects.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 麻豆专区一区二区三区四区五区 | 精品久久久久久久 | 色屁屁www影院免费观看视频 | 国产91对白叫床清晰播放 | 午夜性色一区二区三区不卡视频 | 国产操片 | 国产精品精品视频一区二区三区 | 久久国产一二区 | 免费能直接在线观看黄的视频 | 99久久婷婷 | 国产欧美精品一区二区三区 | 日本不卡中文字幕一区二区 | 久久激情综合色丁香 | 欧美四虎 | 在线成人免费 | 黄视频网站在线看 | 色偷偷888欧美精品久久久 | 婷婷综合网站 | 日日摸夜夜摸狠狠摸日日碰夜夜做 | 国产一级毛片在线看 | 妞干在线 | 色伊人网 | 国产精品久久久久久久午夜 | 亚洲天堂免费视频 | 看a级毛片 | av一区二区三区四区 | 亚洲国产二区 | 91 视频网站 | 成年人国产网站 | 久久久久久中文字幕 | 九热视频在线观看 | 国产精品毛片无码 | 91在线入口 | 国产精品亚洲视频 | 日本中文字幕免费 | 91久久精品久久国产性色也91 | 成人永久免费 | 天天影视欧美 | 精品人妻无码一区二区三区手机板 | 小泽玛利亚一区二区 | 久久大香香蕉国产免费网站 |