President Xi

President Xi

Infrastructure
Hambantota Port, Sri Lanka

Caught in a debt trap

China’s Belt and Road Initiative promises to boost development in poorer nations. But the spread of SARS-CoV-2 means many countries may now struggle to pay back the loans they have accepted from Beijing
Markets
China historically pursued a credit-fuelled economic strategy. But its fiscal policy has continued to tighten in recent years and new appointments seem to confirm the focus on sustainability

China’s new economic appointments signal continued debt clampdown

The appointments of Yi Gang as the new governor of the People’s Bank of China and Liu He as vice-premier indicate that Beijing will continue to pursue a more sustainable economic model
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The Winter 2024-25 Issue
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