SHIFT IN CHINA\u2019S LENDING<\/p>\n
Liquefied natural gas developments in Texas and Louisiana, data centres in northern Virginia, and new terminals at New York\u2019s John F Kennedy International Airport and Los Angeles International Airport are among the critical infrastructure projects bankrolled by Chinese state-owned entities.<\/p>\n
According to AidData, Beijing has also helped Chinese firms acquire or buy stakes in high-tech US companies and provided liquidity to a wide range of Fortune 500 companies including Amazon, Tesla and Boeing.<\/p>\n
Brad Parks, executive director at AidData, said: \u201cWe’re talking about lending into sectors that have been designated as sensitive on national security grounds.\u201d<\/p>\n
These industries include artificial intelligence, defence production, quantum computing, biotechnology, robotics and semiconductors, he noted.<\/p>\n
Parks added that Chinese state lenders often avoided scrutiny by channelling funds through offshore shell companies in jurisdictions such as Bermuda, or by routing the money through international bank syndicates.<\/p>\n
But it is not just the US receiving Chinese loans.<\/p>\n
China’s lending and grant giving totalled US$2.2 trillion across 200 countries in every region of the world from 2000 to 2023, said the report.\u00a0<\/p>\n
It noted that in 72 high-income countries alone, China financed nearly 10,000 projects and activities over that period, with spending approaching US$1 trillion.<\/p>\n
\u201cI think everyone previously assumed that China’s lending operations in wealthy industrialised countries were small and insignificant, but we discovered the opposite to be true,\u201d said Parks, who is also a research professor at the College of William & Mary.<\/p>\n
\u201cThe share of Beijing’s lending portfolio that supports high-income and upper middle-income countries has skyrocketed from 12 to 76 per cent.\u201d<\/p>\n
The study found that China\u2019s overseas lending portfolio is far larger than previously understood. Its lending for Belt and Road infrastructure projects in the developing world makes up a surprisingly small share \u2014 just 20 per cent of the total.<\/p>\n","protected":false},"excerpt":{"rendered":"SHIFT IN CHINA\u2019S LENDING Liquefied natural gas developments in Texas and Louisiana, data centres in northern Virginia, and…\n","protected":false},"author":3,"featured_media":409587,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,74,79,14231,67,132,68],"class_list":{"0":"post-409586","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-china","10":"tag-economy","11":"tag-loans","12":"tag-united-states","13":"tag-unitedstates","14":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115624775840911064","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/409586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=409586"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/409586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/409587"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=409586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=409586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=409586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}