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In 2013, China’s President Xi Jinping launched the Belt and Road Initiative (BRI). Originally set to be a massive programme of investments in infrastructure development that would ultimately link Asia to Europe, the plan later expanded around the globe, particularly in developing countries.
A decade on, China is now the world’s largest official debt collector – and the number of overdue payments it's owed is soaring at a time when Beijing is grappling with its own financial issues. Research organisation AidData estimates that as much as 80% of China’s overseas lending portfolio currently supports countries in financial distress, with the total it's owed reaching more than $1 trillion (£790bn).
Read on to discover the 30 countries most heavily in debt to China and find out who’s struggling to make payments. Debt figures are via AidData and account for total debt from 2000 to 2021. All dollar amounts in US dollars.
Nicole Robinson
20 September 2024
Features
There is an error under the Indonesia section "In April 2023, it took out a loan to the tune of $560 million (£443bn) from China Development Bank, ensuring the railway could launch in October." I assume the loan wasnt £443 billion! $560 million is around £431million which I assume is what you mean.
Why do we send foreign aid to China?
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