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The World Bank says that since May 2020, a total of more than $10.3bn has been delivered in debt relief by G20 countries under this scheme. Why does this matter? Gatestone Institute is a 501(c)3 not-for-profit organization, Federal Tax ID #454724565. Assessing repayment burdens and financial risks requires detailed knowledge on all outstanding debt instruments. China acquired over 20 ports around the world in 2018 after indebting "We hear from public officials in China all the time, saying 'Look, you're in the only game in town'," explains Brad Parks, executive director of AidData. This pattern can also be seen in Australia, Belgium, Canada, France, Israel, the Netherlands, Spain, South Korea, Sweden and the UK. The China CCP prefers to corrupt the political establishment of the countries that it targets for increased influence, which it has been highly successful at through its' Belt & Road Program initiatives. Territorial changes of the People's Republic of China - Wikipedia US-China Economic and Security Review Commission, 2020 annual report to Congress. For decades, politicians wondered about building such a connection - linking landlocked south-west China directly to South East Asia. As a result, private investors and other competing creditors may underestimate the risk of default on their claims. But the billion dollar project using loans and contractors from China became mired in controversy, and struggled to prove viable, leaving Sri Lanka saddled with growing debts. Its loans to lower and middle-income countries have tripled over the past decade, reaching $170bn (125bn) by the end of 2020. Numbers, Facts and Trends Shaping Your World, Fast facts about views of China ahead of the 2022 Beijing Olympics, Large Majorities Say China Does Not Respect the Personal Freedoms of Its People, Most Americans Have Cold Views of China. The sheer amount of Chinese lending is startling. National Security Threat: Another Latin American Country Chooses China, China Winning Technological War: Biden Administration Allowing It, China Crosses "Red Line" Advancing Russia's War Effort. But even then, about 90% of the $100 billion (in todays dollars) spent in Europe comprised grants and aid. Beijing began raising the question of sovereignty over the islands in the the 1970s when evidence of oil reserves in the regionsurfaced. Taken individually, these "nations" would account for eight of the 20 most populous countries in the world. While China has been increasing its annual Foreign Direct Investments (FDI) in Africa -- its FDI flows grew from just $75 million in 2003 to $4.2 billion in 2020 -- annual American FDI flows to Africa have been heading the other way. Despite the large size of Chinas overseas lending boom, no official data exists on the resulting debt flows and stocks. What China's One Belt, One Road really means. There are other parts of the world where Chinese lending has also proved controversial, with contracts whose terms could give China leverage over important assets. More countries have opted to take the strictest measures possible to contain it. Laos has a 313-mile border with China that runs from the tripoint with Myanmar in the west to the tripoint with Vietnam in the east. Election Integrity's Biggest Threat: Big Tech, The Biden Administration's Vacuum of Leadership, Thousands of Political Prisoners are Rotting in Turkish Jails. In June last year, Malaysia summoned Chinas ambassador after 16 military aircraft flew over disputed waters off its eastern state of Sarawak. However, critics fear that the high-interest loans funding many Chinese projects are saddling unsuspecting populations in sky-high debt.