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PDF THINK TANK: ANALYST
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Here is where YOU are wrong, a large part of the Chinese debt is the liability held by investors in these countries under sovereign guarantees to the Chinese SOE who in-turn borrowed from Chinese National Banks. This debt don’t show up in the fancy FT chart you posted above. Since you are pretending this isn’t public debt, let’s also pretend it doesn’t exist and it isn’t owed to China.When did I say these countries owe nothing to China, its the overwhelming majority of their debts are from the West. Dont twist things around.
If I were Pakistan, Ethiopia or Sri Lanka I‘d stop servicing this “non-existent“ debt and there isn’t anything China can do about it.