renminbi magnifying glass Zhang Peng/LightRocket via Getty Images

Exposing China’s Overseas Lending

China has fueled an unprecedented surge in official lending over the past 15 years. The most remarkable feature of this wave of credit, however, is not its size, but its dangerous lack of transparency.

CAMBRIDGE – Over the past 15 years, China has fueled one of the most dramatic and geographically far-reaching surges in official peacetime lending in history. More than one hundred predominantly low-income countries have taken out Chinese loans to finance infrastructure projects, expand their productive capacity in mining or other primary commodities, or support government spending in general.