Debt trap label hides anxieties of developed nationsBy GLOBAL TIMEShome/News/World/Debt trap label hides anxieties of developed nationsThe “debt trap” allegation against China was raised again recently. But the hype about China’s “debt trap” begs the question: Do the US, Japan and other Western developed countries really care about the debt problems of developing countries? Paris Club creditors manage debt programs for debtor countries, such as debt restructuring, debt relief or even debt cancellation. They can also borrow from the China-proposed Asian Infrastructure Investment Bank, the Export-Import Bank of China and the China Development Bank. The “debt trap” theory obviously indicates the anxiety of Western elites.

Source: Manila Times November 29, 2018 07:30 UTC