China's Africa loans ‘underestimated risk, like those of US, Japan in past'
The slowdown in Chinese lending for African infrastructure projects was likely to happen because it mirrored past lending by other countries, and the coronavirus pandemic has only accelerated the trend, a Beijing-based finance professor has said.Michael Pettis, a senior fellow at the Carnegie-Tsinghua Centre for Global Policy and a finance professor at Peking University, said that 10 to 15 years ago the Chinese government was largely following the same path every country before it followed when…
South China Morning Post
Wed, 02 Dec 2020 04:00:18 +0800
Source:
