Chinese loans to Africa could spark crisis, warns Germany

Middle East
27-05-2022 | 11:34
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Chinese loans to Africa could spark crisis, warns Germany
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Chinese loans to Africa could spark crisis, warns Germany
China’s years-long lending spree in poorer countries, notably in Africa, poses a “serious danger” that might push the world into the next financial crisis, German Chancellor Olaf Scholz warned Friday.
 
He also stated that “there is a really serious danger that the next major debt crisis in the global south will be caused by loans that China has granted worldwide and doesn’t have a complete overview of because there are so many players involved.”
 
 

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