Caixin
Nov 20, 2018 06:55 PM
WORLD

China-Japan Projects Shouldn’t Burden Developing Nations With ‘Unmanageable’ Debt, Japanese Ex-Foreign Minister Says

Former Japanese Foreign Minister Yoriko Kawaguchi speaks during a panel discussion at the Bloomberg New Economy Forum in Singapore on Nov. 6. Photo: VCG
Former Japanese Foreign Minister Yoriko Kawaguchi speaks during a panel discussion at the Bloomberg New Economy Forum in Singapore on Nov. 6. Photo: VCG

China and Japan should avoid burdening developing countries with “unmanageable” debt, a former Japanese foreign minister told Caixin in a recent interview.

Yoriko Kawaguchi’s words come as China has faced accusations of creating “debt traps” abroad, while improving relations with Japan have led to bilateral cooperation plans in third-party markets.

During Japanese Prime Minister Shinzo Abe’s visit to Beijing in late October, Japan ended its official development assistance to China — which had lasted for nearly four decades — making way for the two to cooperate in third-party markets. Meanwhile, multiple entities from each side signed over $18 billion worth of agreements targeting such cooperation, some of which involve infrastructure projects.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.