Talking about the world 丨 The thief shouting to catch the thief to the West is the "debt trap" manufacturer

Recently, some developing countries such as Sri Lanka are facing economic difficulties and debt crisis. The United States and Western have used this to speculate on the so -called "Chinese debt trap theory" and slander China to put developing countries into a "debt trap". Tang Xiaoyang, a professor at the Department of International Relations of Tsinghua University, believes that the West is the main creditors of developing countries, and they are indifferent when they are in crisis in developing countries. The United States is the manufacturer of "debt trap" in developing countries.

Editor -in -chief of Xinhua News Agency: ： ： 新 新:

Hello everyone from Xinhuanet! I am honored to invite Professor Tang Xiaoyang at the Department of International Relations of Tsinghua University today. Welcome, Professor Tang!

Professor Tang Xiaoyang, Professor of the Department of International Relations of Tsinghua University:

Thank you, the host, I am very happy to come to Xinhua.com!

邰 邰 邰 邰:

We know that since the beginning of this year, the Fed has raised interest rates in succession, and the United States has strictly sanctioned Russia with allies, bringing a serious impact on the world economy. At the same time, developing countries such as Sri Lanka have encountered a serious economic and debt crisis. Want to ask you to talk about what aspects of the impact of economic and financial policies in the United States and Western in the United States?

Tang Xiaoyang:

I think this year's developing countries, especially the crisis of Sri Lanka's outbreaks since this year, has adopted interest rate hikes such as the United States and other countries, including the previous easing policy.

The United States has a loose or tightening, and the Federal Reserve ’s interest raising has a huge impact and impact on the global economy. However, there are priority considerations in the United States' own monetary policy, and this priority consideration must be the US economy. In Sri Lanka, Argentina and other developing countries, they belong to a very peripheral and edge status in the consideration of the entire US financial policy. As these countries lack foreign exchange, they need to continuously financing and borrowing, and when the interest is increased, the cost of national lending has increased significantly. Sometimes it can be said that it is impossible to repay. In addition It has greatly reduced the foreign exchange income of these countries, so these countries soon encountered the plight of liquidity and the bottleneck of financing, so they could not get more foreign exchange. At this time, developed countries in the United States and Europe will not put the interests of these small countries in the center of their consideration, which has led to a series of exchange rates in Sri Lanka, the collapse of currencies' collapse, inflation, and the social and political crisis.

邰 邰 邰 邰:

At the time of developing countries facing severe economic tests, some forces in the United States in the West reversed black and white and took the opportunity to hype the so -called China's "debt trap theory". So, what kind of mentality and motivation do these American Western forces do this speculation?

Tang Xiaoyang:

After 2008, another trend was generated internationally. Private financial institutions encouraged developing countries to issue bonds, which made profit. Financial institutions in these developed countries encourage developing countries to issue bonds to the speed and scale of bonds. However, most of China is mainly based on productive projects when borrowing. It is relatively cautious. Especially when the epidemic occurs, it can take a very timely action of debt reduction and debt.

Therefore, if we really compare and comprehensively compare, we can see it in an all -round way that China can easily help developing countries get cheaper and more effective funds. However, China ’s help to develop countries will form a greater impact, challenges and even changes to the operation of Western capital. Behind it is the development of China, including China's impact on developing countries, and has impacted the ideological ideology of Western traditions.

邰 邰 邰 邰:

Professor Tang just talked about the increase in the market share of financial institutions in private sector. We saw that the British charitable institution "debt justice" recently reported that 35%of African countries' foreign debt came from Western private loan institutions, and its total amount was almost China. Three times, the average interest rate is about twice the non -loan of China. Western private loan institutions borrow a large number of debt to African countries and collect higher interest, but they have rarely actions to help these countries slow down their debt pressure. What are your comments on this behavior of Western agencies?

Tang Xiaoyang:

The behavior of these institutions can be argued for themselves to follow the usual practice and market -oriented operation, which is precisely the crux of the problem. Developing countries often have a very single source of economic income. When they encounter economic upward stages, they will be very good. Because of the lack of experience in this area, they felt that all conditions were very good when the market economy went up, so I borrowed more debts, but I did not expect that when the economy declined, the price of resource commodities also fell.

The Fed mentioned that it just raised interest rates. After interest rate hikes, it was necessary to issue debt financing, and the interest would be increased a lot. Moreover, the US dollar interest rates have been high after interest rate hikes, so the burden of debt repayment has also greatly increased. In addition, in recent years, there is a epidemic conflict with the Russian and Ukraine, so the foreign exchange income of Sri Lanka is basically gone.

At this time, due to the debt you borrowed before, the private institutions have a set of rules, saying that although there are agreements to reduce and slow debt under the G20 framework, the private bonds are not under the G20 framework.They are all laws in developed countries. They have no obligation to reduce debt or slow debt. They are considered by Western countries to be a complete market -oriented independent kingdom.But we can see that the proportion of bonds held in these private institutions now account for more than 50%of the debt of low -income countries, and it has accounted for more than one -third of Africa.Planning: Liu Jiawen

Executive planning: Yang Dingdu

Coordinating: Liu Xiajun Bi Qiulan

Host: 平 邰 邰

Script: Xue Bi Li

Special guest:

Professor Tang Xiaoyang, Professor of the Department of International Relations of Tsinghua University

Editing: Wang Shuo Tian Jianzheng

Visual design: Yang Yixin

Shooting: Xu Nan Zhao Peng

Produced by Xinhua News Agency International Communication integration platform

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