Title : The World Owes China $5 Trillion
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The World Owes China $5 Trillion
Al Jazeera: How much money does the world owe China?
China loans more money to the world than the richest 32 nations. Plus, the man behind a $1 trillion stock market crash.
China has been rapidly rolling out its Belt and Road Initiative to build new roads, ports and rail lines in mostly developing nations, extending the country's reach across continents.
China says the infrastructure will benefit countries while critics say China is extending unfair influence over others.
Many nations have been rethinking their involvement amid accusations that China has overpriced projects.
Between 2000 and 2017, the world's debt obligations to China rose from $500bn to a staggering $5 trillion - about six percent of the world's economic output - according to the Kiel Institute for the World Economy.
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WNU Editor: There are a lot of strings attached to that $5 trillion.
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