Developing nations face 'tidal wave' of China debt, report finds

The world’s poorest nations face a “tidal wave of debt” as China’s Belt and Road Initiative repayments hit record highs in 2025, according to a report by Australia’s Lowy Institute. The Chinese government has financed infrastructure projects across Africa, the Middle East, and the South Pacific, but as new borrowing dries up, existing debts loom larger for developing countries already burdened by past investments.