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China overloading poor nations with debt, top US official says

Ray Washburne, president and CEO of the U.S. development finance institution OPIC, poses for a photograph after an interview with Reuters in Johannesburg, South Africa, July 16, 2018. REUTERS/Joe Bavier

China is saddling poor nations with unsustainable debt through large-scale infrastructure projects that are not economically viable, the head of the U.S. Overseas Private Investment Corporation (OPIC) said on Monday.

The criticism of Beijing - targeted by President Donald Trump in a trade war that has sent ripples through economies around the world - comes as Washington seeks to ramp up development finance in the face of China’s global ambitions.

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