China is now a bigger presence in international development finance than all of the world’s six major multilateral financial institutions put together, a new study has found.
The study, conducted by academics from Boston University and the Chinese Academy of Social Sciences, shows that in just over a decade lending overseas by Chinese development finance institutions has doubled the amount of such finance available in the world economy.
“China is emerging as the global leader in development finance,” said the study, which was authored jointly by Kevin Gallagher, professor at Boston University and co-director at the Global Economic Governance Initiative (GEGI), Rohini Kamal of GEGI and Wang Yongzhong at the Chinese Academy of Social Sciences.
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