Many of China’s debtor nations are unable to repay their debt, but debt-for-climate swaps could be an innovative solution.
The coast of La Digue, one of Seychelles’ largest islands. Seychelles greatly expanded its marine protected areas in exchange for millions in debt relief. Credit: Jean-Marie Hullot, Creative Commons
After rising to become the world’s top bilateral creditor, China is facing a new challenge: a looming global debt crisis. Many of China’s most frequent borrowers now find themselves unable to repay their debts.
China has already shown itself as a willing partner in debt renegotiations. It has joined the G-20 Debt Service Suspension Initiative (DSSI) to ease this burden among 73 lower-income borrowers by allowing them to temporarily suspend their debt payments to participating bilateral le
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The former Biden official and China scholar makes the case for the previous administration's approach and discusses why Beijing is content to watch the U.S. now dismantle its sources of strength
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