“There really is a serious danger that the next big debt crisis in the Global South will come from loans that China has made around the world that it does not quite keep track of itself, because there are so many players involved,” Scholz said during a panel discussion at German Catholic Day Stuttgart.
“It would then plunge both China and the Global South into a major economic and financial crisis and would not leave the rest of the world indifferent – to put it politely.”