A Boston university research paper says China is becoming an alternative to the Washington D.C.-headquartered International Monetary Fund. It says Chinese lending has led some countries to turn away from the IMF.
One of the major concerns for countries going to China for loans is that when borrowing from Beijing, the terms and conditions of these loans are often not transparent.
One study found that all contracts with Chinese state-owned entities after 2014 contain strong confidentiality clauses. These clauses often prevent the borrower from revealing the terms and conditions of the loan.