Who owes China the most? Once you ask this question, who comes first depends on how you calculate it.
If you look at broad sovereign and other financing exposure (including commercial loans, energy-backed loans, and more), Russia ranks first, owing about $169 billion. This is mainly the result of its financing channels shifting wholesale toward the East after Western sanctions. Venezuela (about $113 billion) and Pakistan (about $69 billion) follow.
But if you use the World Bank’s strict definition of “public and publicly guaranteed debt” for low- and middle-income countries, Pakistan takes the top spot, owing about $22.38 billion. Angola (about $14.4 billion) and Sri Lanka (about $8.69 billion) come next. This debt is largely tied to the Belt and Road infrastructure and energy projects we’re familiar with.
Why are the two rankings so different? Because they count different things. The broader measure includes commercial loans and countries that don’t report their data (such as Venezuela), while the World Bank measure only counts official, long-term infrastructure loans to those few dozen low- and middle-income countries.
Put simply, the bulk of Russia’s debt stems from energy and financial ties forged under geopolitical pressure, while Pakistan and Sri Lanka are typical cases of infrastructure in exchange for development. Behind this is a very clear web of global competition over capital and resources.
Do you think this kind of sovereign debt will look more like an investment in the future, or more like a bargaining chip in a geopolitical game?
You can also follow me for more news and information.
#一带一路
The content above is compiled solely from publicly available reports and does not constitute investment advice.$ETH $BNCB $SOL
If you look at broad sovereign and other financing exposure (including commercial loans, energy-backed loans, and more), Russia ranks first, owing about $169 billion. This is mainly the result of its financing channels shifting wholesale toward the East after Western sanctions. Venezuela (about $113 billion) and Pakistan (about $69 billion) follow.
But if you use the World Bank’s strict definition of “public and publicly guaranteed debt” for low- and middle-income countries, Pakistan takes the top spot, owing about $22.38 billion. Angola (about $14.4 billion) and Sri Lanka (about $8.69 billion) come next. This debt is largely tied to the Belt and Road infrastructure and energy projects we’re familiar with.
Why are the two rankings so different? Because they count different things. The broader measure includes commercial loans and countries that don’t report their data (such as Venezuela), while the World Bank measure only counts official, long-term infrastructure loans to those few dozen low- and middle-income countries.
Put simply, the bulk of Russia’s debt stems from energy and financial ties forged under geopolitical pressure, while Pakistan and Sri Lanka are typical cases of infrastructure in exchange for development. Behind this is a very clear web of global competition over capital and resources.
Do you think this kind of sovereign debt will look more like an investment in the future, or more like a bargaining chip in a geopolitical game?
You can also follow me for more news and information.
#一带一路
The content above is compiled solely from publicly available reports and does not constitute investment advice.$ETH $BNCB $SOL