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China’s Lending Strategy in Emerging Markets Risks Prolonging Borrowers’ Pain
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SINGAPORE—Burdened with a growing pile of souring loans to the developing world the past few years, Chinese lenders have been rescheduling payments and offering more credit to borrowers in financial straits.
Those strategies—reminiscent of “extend and pretend” practices of banks unwilling to recognize bad debts—failed in Sri Lanka, whose government collapsed recently under the weight of unpayable loans.
Read more on wsj.comAbout this in other media
World Bank Cuts China Growth Forecast as Covid-19, Real-Estate Crunch Take Toll wsj.com /2 years ago
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China growth lags Asia-Pacific for first time in decades as World Bank cuts outlook theguardian.com /2 years ago
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