'Debt traps' false criticism of lending

Big gap exists in providing emerging economies with sustainable funds

China's international lending and the Belt and Road Initiative have contributed to the world's growth instead of creating "debt traps" for other countries, experts and officials attending the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, said in Tianjin on Wednesday.

Jin Keyu, associate professor of economics at the London School of Economics and Political Science, told a forum during the meeting on Wednesday that while there still exists a big gap in providing long-term sustainable financing for developing countries, China has stepped up and played a positive role.

Jin said developing countries should be able to borrow in bad times, and the fundamental problem in the international financial system — which is the international credit cycle — is that it is pretty much based on US monetary policy.