Indebted to China – The Globalist

Sustainable Development Goals (SDGs) and China’s Global Development Finance

China’s Contribution to Global Development

1. China has become the largest source of development finance globally, having committed more than $1.3 trillion since 2000.

China’s Debt Collection through the Belt and Road Initiative

1. China is owed more than $1 trillion through its Belt and Road Initiative – making it the biggest debt collector in the world.

China’s Aid and Credit Commitments

1. China has committed aid and credit to fund almost 21,000 projects across 165 countries.

China’s Lending to Countries in Debt Distress

1. The total outstanding debt at $1.1 trillion and 80% of China’s lending in the developing world was made to countries in debt distress.

Comparison with Official Donor Aid

1. International aid from official donors in the OECD was roughly $223 billion in 2023, up from $211 billion in 2022.

China’s Influence Capacity

• In 1992, China had more influence capacity than the United States in 33 countries, while the United States retained an advantage in 160 countries.
• By 2020, Chinese influence capacity had surpassed U.S. capacity in 61 countries, while the U.S. lead had dropped to 140 countries.

SDGs, Targets, and Indicators

1. SDGs Addressed

   • SDG 1: No Poverty
   • SDG 8: Decent Work and Economic Growth
   • SDG 9: Industry, Innovation, and Infrastructure
   • SDG 10: Reduced Inequalities
   • SDG 17: Partnerships for the Goals

2. Specific Targets

   • SDG 1.4: By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, ownership, and control over land and other forms of property.
   • SDG 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries.
   • SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all.
   • SDG 10.6: Ensure enhanced representation and voice for developing countries in decision-making in global international economic and financial institutions in order to deliver more effective, credible, accountable, and legitimate institutions.
   • SDG 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources.

3. Indicators

   • Indicator 1.4.2: Proportion of total adult population with secure tenure rights to land, with legally recognized documentation and who perceive their rights to land as secure, by sex and by type of tenure.
   • Indicator 8.1.1: Annual growth rate of real GDP per capita.
   • Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road.
   • Indicator 10.6.1: Proportion of members and voting rights held by developing countries in international organizations.
   • Indicator 17.16.1: Number of countries that have implemented well-functioning and sustainable national and local capacity-building mechanisms.

Table: SDGs, Targets, and Indicators

Analysis

The article highlights China’s role as the largest source of development finance globally, its significant debt collection through the Belt and Road Initiative, and its commitment to funding projects in numerous countries. These issues are connected to several Sustainable Development Goals (SDGs) and their corresponding targets.

SDG 1: No Poverty is addressed as China’s development finance and aid can contribute to poverty reduction and economic empowerment, particularly for the poor and vulnerable. The specific target identified is SDG 1.4, which focuses on ensuring equal rights to economic resources and access to basic services and property. The indicator mentioned is Indicator 1.4.2, which measures the proportion of the population with secure tenure rights to land.

SDG 8: Decent Work and Economic Growth is relevant as China’s economic activities impact global economic growth. The specific target identified is SDG 8.1, which aims to sustain per capita economic growth, particularly in least developed countries. The indicator mentioned is Indicator 8.1.1, which measures the annual growth rate of real GDP per capita.

SDG 9: Industry, Innovation, and Infrastructure is connected to China’s commitment to developing infrastructure projects globally. The specific target identified is SDG 9.1, which focuses on developing quality, reliable, and sustainable infrastructure for economic development and well-being. The indicator mentioned is Indicator 9.1.1, which measures the proportion of

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Fuente: theglobalist.com

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