How China Became A Global Lender Of Last Resort

The U.S. and International Monetary Funding have for decades been the globe’s lenders of last resort, stepping in to provide emergency loans to countries in financial distress. But a new study published Tuesday shows how China has emerged as a new global heavyweight. China provided 128 rescue loans in 22 countries from 2008 to 2021, according to researchers from the U.S.-based research lab AidData, the World Bank, Harvard Kennedy School, and the Kiel Institute for the World Economy.

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