According to an article published by Ye Xie on Bloomberg, China is stepping up its role as the lender of last resort to some of the world’s most financially strapped countries.Ye Xie refers to the examples of Argentina, Venezuela and possibly Russia and argues that the country’s influence in the global economy has been increased. It is also worth-mentioning that – as opposed to IMF – Beijing is not pusblish for painful structural reforms but firstly seeks to secure its strategic interests.
You can read the article written by Ye Xie on Bloomberg here.
