Join East Asia Co-Director Yun Sun in an online discussion of Non-Resident Fellow Lex Rieffel’s new policy paper on the issues of debt and China, titled Normalizing China’s Relations with the Paris Club. Scott Morris from the Center for Global Development will contribute additional insights on this important issue and discuss ways forward.
The COVID-19 pandemic has strained low-income countries as they service their external debts, leaving them to turn to the Paris Club for relief. China, a significant lender of debt, is not a member of the Paris Club and has dealt with countries struggling to meet debt obligations differently. Key to understanding how debtors will recover from the pandemic and how borrower-lender relations evolve between the Global North and South will be analyzing how China and the Paris Club view debt and how they may can reconcile differences for the greater global good.