The United States is working hard to counter China's influence in international institutions and in lending to developing countries, U.S. Treasury Secretary Janet Yellen said on Wednesday.
Yellen said she was concerned by some of China's activities globally, particularly in lending to developing countries.
China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt and Road" infrastructure, aAlmost 80% of the lending was made between 2016 and 2021, mainly to middle-income countries including Argentina, Mongolia and Pakistan, according to the report by researchers from the World Bank, Harvard Kennedy School, AidData and the Kiel Institute for the World Economy.
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