House Bill to Strip China’s ‘Developing Nation’ Status

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The U.S. House of Representatives passed a bill to revoke China’s “developing nation” status, voting that the world’s second-largest economy should not get those benefits. In the spotlight are the billions China has spent bailing out developing countries. The vast majority of them fall under Beijing’s global infrastructure Belt and Road Initiative. A new report sheds light on the opaque nature of China’s deals. But is the bill enough to change the game?
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