Book Authored (ISBN-10: 0824821599)

Book Authored (ISBN-10: 0824821599)
Sovereign Rights and Territorial Space in Sino-Japanese Relations: Irredentism and the Diaoyu/Senkaku Islands (ISBN-10: 0824824938)

Sunday, March 6, 2011

The Chinese Loans Top the World Bank’s

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 Brazil. Also, some of loans were denominated in yuan as China tried to internationalize Renminbi. In fact, Chinese banks offer more favorable terms than the World Bank and other lenders.

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