Despite Washington’s long-standing warnings to other nations against accepting loans from Chinese state banks, the United States has ironically emerged as the single largest recipient of such funding, a new report reveals. The security and technology implications of this extensive financial entanglement are yet to be fully understood.
Over the past quarter-century, Chinese state lenders have channelled an estimated $200 billion into American businesses. However, many of these loans were kept secret, their origins deliberately obscured by being routed through shell companies in the Cayman Islands, Bermuda, and Delaware, according to AidData, a research lab at the College of William & Mary in Virginia.
