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Indebted to China

China has become the largest source of development finance globally. What are the facts?

May 8, 2024

1

China has become the largest source of development finance globally, having committed more than $1.3 trillion since 2000.

2

China is owed more than $1 trillion through its Belt and Road Initiative – making it the biggest debt collector in the world.

3

China has committed aid and credit to fund almost 21,000 projects across 165 countries.

4

The total outstanding debt at $1.1 trillion and 80% of China's lending in the developing world was made to countries in debt distress.

5

International aid from official donors in the OECD was roughly $223 billion in 2023, up from $211 billion in 2022.

6

In 1992, China had more influence capacity than the United States in 33 countries, while the United States retained an advantage in 160 countries.

7

By 2020, Chinese influence capacity had surpassed U.S. capacity in 61 countries, while the U.S. lead had dropped to 140 countries.

Sources: AidData/The Economist/RFI/Atlantic Council/OECD

Takeaways

China has become the largest source of development finance globally. What are the facts?