Germany has questioned China's debt policy and said that a new crisis may arise in front of the world. German Chancellor Olaf Scholz called China's debt policy a lack of transparency and said it was a threat to developing and emerging countries. He said that this could lead to a new debt crisis facing the world.
German Chancellor Olaf Scholz's statement comes amid the crisis in Sri Lanka and the ongoing economic crisis in Pakistan. In a panel discussion on Germany's Catholic Day in Stuttgart, Scholz said, "It is indeed a serious threat; the next major crisis in the Global South will be the debt that China has lent to the world and does not fully monitor itself." Because it involves a lot of players.
This policy of China will affect the whole world
Scholz further said that going forward, this would put both China and the countries of the Global South in a major economic and financial crisis, and the rest of the world could not be untouched by it. The Global South that Olaf Scholz has talked about is also called a third-world country. These include Asian countries like Sri Lanka, Pakistan, Iraq, and Iran. Apart from this, Latin American countries, Caribbean countries, and African countries are also called South World Countries.
China's debt of more than $ 11 billion to Pakistan alone
Talking about China's debt, so far it has given a loan of about $ 11 billion to Pakistan. Last financial year, Pakistan paid 26 billion Pakistani rupees to China as interest. According to media reports, Sri Lanka, which is currently facing a financial crisis, has a debt to China. China alone accounts for 20 percent of the $5 billion foreign debt on Sri Lanka.
The second match of the five-match Test series between India and England is being played at Edgba
AUS vs IND: Australia announces ODI and T20I squads, India's biggest enemy returns
Australia's ODI and T20I squads have been announced for the upcoming series against India. Marnus
Union Minister of State (MoS) Nityanand Rai said in the Lok Sabha on Tuesday that the problem of
The fifth and final match of the five-match Test series between India and Australia is being play
In the cabinet meeting of the Uttarakhand government, a major decision has been taken to curb for
BJP 24-25, rebels 15, independents also 'revdi'; Shinde cabinet may be like this
Eknath Shinde Cabinet: After a long wait of almost a month, an agreement has been reached on the
At least 10 people have been killed and 251 injured after a tanker leaked toxic gas at Jordan's A
Another hottest couple of Bollywood has now joined the parenting club. Siddharth Malhotra and Kia
The ED has moved the Delhi High Court against the trial court's order granting bail to Delhi CM A
Tariffs will be increased by 264% for people who consume less electricity in Sri Lanka. Whereas f
