| Last updated: Dec. 25, 13:35 | Page 3 of 4 |
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Money is one of humanity’s greatest inventions. But crises of credit have been with us since ancient times.
By James Grant, the editor of Grant’s Interest Rate Observer, is the author of “Friends Until the End: Edmund Burke and Charles Fox in the Age of Revolution.”
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Beijing has used loans to developing nations to expand its influence, but a new study says no country has received more Chinese financing than the United States. In all, Chinese state-owned firms have provided $2.2 trillion in loans and grants around the world since 2000, a figure two to four times larger than previously thought, according to Brad Parks, the lead author of a report that AidData released on Tuesday, which draws on information from more than 30,000 projects in over 100 countries.
By Alexandra Stevenson
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| Last updated: Dec. 25, 13:35 | Page 3 of 4 |


