China Outspends US by Billions in Global Lending, Watchdog Says
- China spent $679 billion to US’s $76 billion, GAO report says
- Lending gives China ‘leverage’ but has downsides, report finds
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China outspent the US almost nine-to-one on infrastructure projects around the world over eight years, according to a government watchdog report that highlighted the challenge Washington faces as it vies for influence against Beijing in poorer countries.
China lent $679 billion under its Belt and Road Initiative from 2013 to 2021 for projects that involved highways, power plants and telecommunications, the Government Accountability Office said. The US provided $76 billion in that same period, it said.