[lbo-talk] World Bank sets out 5-year China development plan

uvj at vsnl.com uvj at vsnl.com
Wed May 24 17:06:28 PDT 2006


Doug Henwood wrote:


> Why does China need the WB"s money or advice? They're overflowing
> with reserves,

I don't know, but the cost of funds may be one consideration. Some of the World Bank loans carry interest rate of 0.75% per year with repayment period of 35 years (including 10 years grace period). What would be the discounted value of future outflows on such terms?


>and they're obviously doing something right.

They are collaborating with/receiving favours from the developed world on a scale no other developing country does.

Ulhas



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