Currently there is no description available for Brad Parks.
“Many poor governments could not take on any more loans. So [China] got creative. Loans were given to a constellation of actors other than central governments, but often backed by a government guarantee to pay up if the other party could not. The contracts are murky and governments themselves don't know the exact monetary values they owe to China. What we're seeing right now with the Belt and Road Initiative is buyers' remorse. Many foreign leaders who were initially eager to jump on the Belt and Road Initiative bandwagon are now suspending or canceling Chinese infrastructure projects because of debt sustainability concerns.”
29 Sep 2021
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