June GRASSO
Amassing foreign debt is one strategy for acquiring capital needed for investment. China’s foreign debt, among the highest worldwide at $331 billion in 2007, has been the impetus for the country’s emergence as an economic power in the twenty-first century.
Foreign (or external) debt is the total amount of money a country owes to foreigners or other countries. Ordinarily a consequence of loans and/or a negative balance of trade, China’s foreign debt
