G20 Comes to the Rescue as China Drives Poor Countries to Bankruptcy
~ In a teleconference on the evening of April 7, G20 finance ministers and central bank governors agreed on a package of financial support for developing countries. Behind their move is the increased risk of bankruptcy in countries with fragile economies due to the prolonged COVID-19 pandemic. Shaken by currency depreciation, developing countries are becoming further polarized from the United States, China, and other developed countries that are normalizing their economies. Meanwhile, China has continued to seek priority repayment of debt from developing countries, using the debt to gain ...
Source: japan-forward.com