PBOC Deputy Urges Private Role in Sovereign Debt Restructuring - Bloomberg.com
PBOC Deputy Urges Private Role in Sovereign Debt Restructuring - Bloomberg.com
Source: Bloomberg.com
―
DW NOTE
China wants private creditors to take haircuts on sovereign debt while the PBOC remains senior and whole. This is the same country that lent $838 billion into Belt and Road without publishing terms, then acted surprised when Pakistan and Zambia couldn't pay. Calling it "burden-sharing" doesn't make it multilateral — it makes it a unilateral repricing of risk after the fact.