It wasn’t that long ago when China lent tens of billions of dollars to developing countries in Africa and the Americas to build vast amounts of badly-needed infrastructure. Now, it appears, those days are over.
Concerns over debt sustainability, corruption, and poor planning have all led to a dramatic fall-off in Chinese lending in those regions.
Deborah Bräutigam, director of the China-Africa Research Initiative at Johns Hopkins University, and Kevin Gallager, head of the Global Development Policy Center at Boston University join Eric & Cobus this week to talk about what the latest data on Chinese lending reveals and how Chinese development finance is rapidly evolving.
- The China-Africa Research Initiative: Twenty Years of Data on China’s Africa Lending by Deborah Brautigam and Kevin Acker
- Financial Times: China cut lending to Africa in 2019 as debt fears grew by David Pilling and Andres Schipani
- Financial Times: China curtails overseas lending in face of geopolitical backlash by David Pilling and James Kynge
ABOUT DEBORAH BRAUTIGAM AND KEVIN GALLAGHER:
Dr. Deborah Bräutigam is the Bernard L. Schwartz Professor of Political Economy and Director of the China Africa Research Initiative at Johns Hopkins University’s School of Advanced International Studies (SAIS). Her most recent books include The Dragon’s Gift: The Real Story of China in Africa (OUP, 2010) and Will Africa Feed China? (OUP, 2015). Before joining SAIS in 2012, she taught at Columbia University and American University. Dr. Bräutigam’s teaching and research focus on international development strategies, governance, and foreign aid. She has twice won the Fulbright research award and is a recipient of fellowships from the Council on Foreign Relations, the Woodrow Wilson International Center for Scholars, and research grants from the UK Economic and Social Research Council (ESRC) and the UK Centre for Economic Policy and Research (CEPR).
Dr. Kevin P. Gallagher is a professor of global development policy at Boston University’s Frederick S. Pardee School of Global Studies, where he directs the Global Development Policy Center. Kevin is the author or co-author of six books: The China Triangle: Latin America’s China Boom and the Fate of the Washington Consensus, Ruling Capital: Emerging Markets and the Reregulation of Cross-Border Finance; The Clash of Globalizations: Essays on Trade and Development Policy; The Dragon in the Room: China and the Future of Latin American Industrialization (with Roberto Porzecanski); The Enclave Economy: Foreign Investment and Sustainable Development in Mexico’s Silicon Valley (with Lyuba Zarsky); and Free Trade and the Environment: Mexico, NAFTA, and Beyond. Gallagher serves on the United Nations’ Committee for Development Policy and co-chairs the T-20 Task Force on International Financial Architecture at the G-20. He previously served on the investment sub-committee of the Advisory Committee on International Economic Policy at the US Department of State and on the National Advisory Committee at the Environmental Protection Agency.
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