Michael Pettis Explains How China's Changing Economy Will Impact the World
The China-Global South Podcast
Insights on Chinese Views on Debt and Debt Relief
The Chinese do not operate by the same rules as Western creditors when it comes to handling debt/nThe Chinese government has shown no interest in debt cancellations/nDebt piled up at the provincial level after the SARS epidemic in 2003/nThe Chinese central government initially cleared some provincial debt but stated they won't do it again/nThe Chinese government's optics prevent them from providing debt relief to other countries if they are not providing it domestically/nThere is a misunderstanding in the outside world regarding the Chinese view on debt and debt relief/nHistorically, loans are expected to be fully repaid but end up being difficult to repay/nDebt renegotiation and restructuring is a common step before debt forgiveness is considered the only solution
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