News Snapshot:
"If you owe the bank $100, that's your problem. If you owe the bank $100M, that's the bank's problem." It's a famous quote attributed to industrialist John Paul Getty, but has been applied to many scenarios and across many sectors. China is the latest to find itself in a similar predicament after lending nearly a trillion dollars to developing countries under the Belt and Road Initiative, which President Xi Jinping dubbed the "project of the century" when unveiling his signature foreign policy in 2013. Bigger picture: Many have described the lending effort that funds infrastructure projects as a "debt trap,"...
