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Belarus-China: Avoiding the "Debt Trap"

In: Global Trade in the Emerging Business Environment

Author

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  • Kiryl Rudy

Abstract

Since 2005 Belarus with its developing Post-Soviet economy has been attracting loans from China. By 2019 China became among top three international lenders for Belarus. On one hand Chinese loans financed infrastructure and industrial projects and supported economic growth in Belarus, and on the other hand they increased import from China and foreign debt of Belarus. In order to overcome the phobia of Chinese "debt trap" the Government of Belarus recently decreased the number and amount of Chinese loans tied to infrastructure projects, improved credit terms, increased FDI from China, and created joint industrial park 'Great Stone'. As a result, the case of Belarus and China outlines how to avoid "debt trap" in 'Belt and Road' initiative by focusing on FDI from China.

Suggested Citation

  • Kiryl Rudy, 2022. "Belarus-China: Avoiding the "Debt Trap"," Chapters, in: Muhammad Mohiuddin & Jingbin Wang & Md. Samim Al Azad & Selim Ahmed (ed.), Global Trade in the Emerging Business Environment, IntechOpen.
    • Handle: RePEc:ito:pchaps:230541
    DOI: 10.5772/intechopen.96858
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    More about this item

    Keywords

    government debt; foreign direct investments; debt trap; 'Belt and Road' initiative;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General

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