China overtakes World Bank in international lending
Over the past two years, China’s banks have loaned more money to developing countries than the World Bank, making China the world’s number one investor in emerging economies. The two state-controlled banks, China Development Bank and China Export-Import Bank are “policy banks”; they are mandated to make investments that further China’s interests. To this goal, they have offered loans to producers of raw materials.
BBC Correspondent, Chris Hogg, reports from Shanghai on the money and the power that comes with it.
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