With power comes responsibility. China is already a great power, not least as a lender for development, notably in support of President Xi Jinpings Belt and Road Initiative. Chinese institutions and multilateral bosies under its influence have become significant creditors of emerging and developing countries. This role can only grow. How China handles it, not least how well it co-ordinates the management of lending and debt relief with the traditional creditors is increasingly important.
Christine Lagarde, managing director of the IMF, noted in Beijing at the beginning of April that good infrastructure can help achieve more inclusive growth,…
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