The Chinese Communist Party (CCP) is trying to reverse the devastating economic effects of its extreme three-year zero-COVID lockdown. After the Chinese new year, local provincial governments across the country began a new trend of huge infrastructure spending in an attempt to reverse the economic downturn. An important source of funding for construction and infrastructure…
China Local Government Debt Skyrockets as CCP Pushes Infrastructure Investments
China Local Government Debts Grow Faster Than GDP
January 18, 2023
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The latest data from China shows considerable local government debts have grown faster than GDP. Given the opacity of the Chinese Communist Party’s (CCP) official data, it is likely that local government debt is much worse than reported. China’s frequent COVID-19 outbreaks in 2022 have led to production stagnation and economic recession. Pillar industries such as…
NZ Minister Concerned About Pacific Debt Levels to China
July 19, 2022
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New Zealand Foreign Minister Nanaia Mahuta has sounded a warning over debt levels among the Pacific nations, saying it is a key area of vulnerability that needs to be addressed. Speaking to TVNZ’s Q+A program on July 17 said she was concerned about the way development in the Pacific was being funded, particularly by China….
US Saves Ecuador From China’s Debt Trap
WASHINGTON—The United States struck a deal with Ecuador to refinance its China debt, as part of an effort to counter Beijing’s growing influence in Latin America. The U.S. International Development Finance Corporation (DFC) signed a framework agreement with the government of Ecuador on Jan. 14 to refinance its preexisting debt to China and support the…
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