While Beijing is known for lending to low-income countries through its $1 trillion geopolitical program, also known as the Belt and Road Initiative, a new study shows that China’s official financing totaled more than $2 trillion worldwide from 2000 to 2023, with the United States ranking first with more than $200 billion from nearly 2,500 projects.
The report, released on Nov. 18 by AidData, a research lab at the College of William and Mary in Virginia, offers a rare view into Chinese lending in developed countries.
The overall size of China’s cross-border landing was “two-to-four times larger” than previously understood, said Brad Parks, AidData’s executive director. China’s lending to 72 high-income countries—nearly $1 trillion—is on a scale comparable to the Belt and Road program….