A new study shows that Beijing's foreign loans are shifting from traditional developing countries to high-income economies. A report released by AidData, a research initiative of the College of William & Mary in the United States, states that between 2000 and 2023, China invested approximately $2.2 trillion in loans and aid across 200 countries globally; more than three-quarters of the funds now flow to middle- and high-income countries for key infrastructure, critical minerals, and high-tech assets such as chips and artificial intelligence. The report estimates that China's overseas credit volume is two to four times higher than previously believed, and it remains the world's largest official creditor. The study shows that the United States received the most Chinese official credit, exceeding $200 billion and involving nearly 2,500 projects, including liquefied natural gas facilities in Texas and Louisiana, data centers in Northern Virginia, terminal construction projects at New York's JFK and Los Angeles International Airports, and several oil and gas pipelines, all with participation from Chinese state institutions. China also provides credit support to numerous Fortune 500 companies, including Amazon, AT&T, Tesla, General Motors, Ford, Boeing, and Disney. In contrast, China's loan share to low-income countries dropped from 88% in 2000 to 12% in 2023, leading to a significant contraction in "Global South" infrastructure financing under the Belt and Road Initiative, while investments in developed economies such as the UK (60 billion dollars) and the EU (161 billion dollars) have rapidly increased.
Image source: network
Original: www.toutiao.com/article/1849199942760457/
Statement: This article represents the personal views of the author.