China gave huge loans to Belt and Road countries. Now it's spending billions to bail them out

For the past decade, China has lent massive sums to governments across Asia, Africa and Europe, growing its global influence through its Belt and Road infrastructure megaproject and becoming one of the world's biggest creditors.

source https://www.cnn.com/2023/03/28/economy/china-rescue-lending-belt-and-road-study-intl-hnk/index.html