NateNate60 , 6 months ago

Part of the reason also has to do with the fact that China will write loans for stupid crap when Western banks and the IMF won’t. You want a loan to build a giant statue in the middle of the desert? Chinese banks have got you covered. Western banks will laugh you out the door. Loan to build a new train line? Western banks want assessments, revenue estimates, feasibility studies, and ten other things. Chinese banks will ask “Are you going to hire a Chinese contractor to build it?” and if the answer is yes, they’ll write the loan.