Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua
Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

As the world scrabbles to fund climate action, China’s debt relief could be key

  • If markets cannot mobilise the funds needed to save the planet, then payment in kind may be more realistic
  • China is leading the way with debt forgiveness, easing pressure on developing nations to exploit their natural resources – and linking debt relief to climate action

Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua
Engineers from Tanzania and China at the Dar es Salaam Port upgrade construction site on July 8 last year. China’s state banks are the largest bilateral creditors of developing countries, where many climate-influencing resources such as forests are. Photo: Xinhua
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Anthony Rowley

Anthony Rowley

Anthony Rowley is a veteran journalist specialising in Asian economic and financial affairs. He was formerly Business Editor and International Finance Editor of the Hong Kong-based Far Eastern Economic Review and worked earlier on The Times newspaper in London