日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global EditionASIA 中文雙語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 1994 - . 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: 91最新国产 | 久久在线免费视频 | 香蕉视频在线视频 | 黄色aa视频 | 国产有码在线观看 | 天天舔天天干 | 国产精品第一页在线观看 | 天天爽天天色 | 少妇一级淫片免费播放 | 免费观看毛片 | 亚洲伊人天堂 | 国产91福利 | 欧美丰满一区二区免费视频 | 日本美女毛片 | 精品久久一 | 激情高潮到大叫狂喷水 | 欧美黄色大片免费看 | 欧美日韩免费在线视频 | 欧美青青草| 亚洲四虎影院 | 欧美国产一区二区 | 亚洲一区三区 | 亚洲永久在线观看 | 午夜影院操 | 美女网站视频色 | 亚洲狠狠爱 | 久久久999久久久 | 欧美成人一级 | 中文区中文字幕免费看 | 一区中文字幕 | 一区二区三区视频免费观看 | 狠狠操伊人 | 91丝袜美腿 | 中文亚洲欧美 | 波多野结衣亚洲 | 国产精品情侣呻吟对白视频 | 一道本在线观看 | 四虎四虎 | 欧美国产日韩在线观看 | 亚洲激情图 | 亚洲午夜久久久久久久久久久 |