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China's lending policy could trigger new debt crisis - Germany's Scholz

Published 05/27/2022, 10:24 AM
Updated 05/27/2022, 10:27 AM
© Reuters. German Chancellor Olaf Scholz attends a panel discussion during the 102nd German Katholikentag in Stuttgart, Germany, May 27, 2022. REUTERS/Andreas Gebert

BERLIN (Reuters) - A lack of transparency in China's lending poses a threat to developing and emerging countries and could trigger a new debt crisis, German Chancellor Olaf Scholz said on Friday.

© Reuters. German Chancellor Olaf Scholz attends a panel discussion during the 102nd German Katholikentag in Stuttgart, Germany, May 27, 2022. REUTERS/Andreas Gebert

"It really is a serious danger that the next big debt crisis in the global South will stem from loans that China has granted around the world and does not quite keep track of itself, because there are so many players involved," Scholz said at a panel discussion at Germany's Catholic Day in Stuttgart.

"That would then plunge both China and the global South into a major economic and financial crisis and not leave the rest of the world unaffected - to put it politely."

Latest comments

There seems to be no news items with regard to the recent Xinjiang Police file leak (that has some pretty damning evidence of human rights violations) here on this website. The leak was probably done from the inside. Seems there's some heavy internal struggles within the Party right now that's preparing to oust JinPing in the upcoming presidential election. If JinPing gets the boot the chinese markets are going to fly.
China is a big devious predator country. Their loans to countries may be just the thin edge of the wedge. New tool to perpetuate slavery.
China did not have history of slavery but most Western countries had strong history of slavery. So mindset of using debt to perpetuate slavery only exist in Western minded people. China debt help countries which other debtor nation would not help to develop it economy. Is this slavery? Helping to develop poor nation economy. Pls use God gift to you by think with brain not biased emotion.
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