China Could Use ‘Usurious’ Loans to Hurt America and Its Partners: Former Energy Department Official

China Could Use ‘Usurious’ Loans to Hurt America and Its Partners: Former Energy Department Official
A barge is berthed at Hambantota International Port in southern Sri Lanka on Aug. 2, 2011. The port was constructed with a Chinese loan. Lakruwan Wanniarachchi/AFP via Getty Images
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China could use its unconventional debt practices as an exercise of power against America and its partners, according to Bart Marcois, former U.S. deputy assistant secretary for policy and international affairs in the Department of Energy.

“Let’s imagine that China increases its threats to Taiwan, for example. Let’s imagine that it actually attacks Taiwan. Any country that assists the United States in assisting Taiwan would then have their loans called, due immediately. They would face immediate financial pressure,” Marcois said in a Sept. 22 interview with NTD News, The Epoch Times’ sister media.

‘Loan Sharking’

The former George W. Bush administration official called the regime’s lending practices “loan sharking.”
Hannah Ng is a reporter covering U.S. and China news. She holds a master's degree in international and development economics from the University of Applied Science Berlin.
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