Since the Lehman Crisis, global credit has been crunched even among international organizations, such the World Bank. According to the Financial Times (17 January 2011) China Development Bank and China Export-Import Bank agreed to lend at least $110 billion to infrastructure in the developing countries, such as Ghana and Argentina in 2009 and 2010. On the other hand, the World Bank handed out only 100.3 billion to the developing countries from mid-2008 to mid-2010 in response to the global financial meltdown. The Chinese agreements contain large loan-for-oil deals with
Russia, Venezuela, and . Also, some of loans were denominated in yuan as Brazil tried to internationalize Renminbi. In fact, Chinese banks offer more favorable terms than the World Bank and other lenders. China
Sunday, March 6, 2011
The Chinese Loans Top the World Bank’s
Labels: Chinese Aids
After growing up and studying in China and Japan, Dr. Suganuma went to the U.S. for graduate studies, earning master’s degrees at both St. John's University (in Chinese studies) and Syracuse University (in international relations) as well as a Ph.D. (in geography) from the Maxwell School of Syracuse University.