![\"gallagher_china_resized\"](\"\/pardeeschool\/files\/2015\/11\/gallagher_china_resized.png\")
<\/a><\/p>\nKevin Gallagher<\/a>, Professor of Global Development Policy and Director of the\u00a0<\/span>Global Development Policy Center<\/a>\u00a0at the Frederick S. Pardee School of Global Studies at Boston University, wrote a recent letter to the editor of\u00a0Financial Times<\/a>\u00a0<\/em>on r<\/span>isk and reward in China\u2019s overseas development plan.<\/span><\/p>\n Gallagher’s letter, entitled “Risk and Reward in China\u2019s Overseas Development Plan,<\/a>”\u00a0<\/span>was published on March 7, 2018.<\/p>\n From the text of the letter:<\/p>\n Your editorial comment (\u201c China needs to act as a responsible creditor \u201d, April 30) is quite hypocritical in the broader context. China is criticised for its potential of stretching the limits of debt sustainability across the world for its ambitious Belt and Road Initiative that promises to interconnect Asia with modern infrastructure and regional integration.<\/p>\n It is hypocritical to shun China for the debt potential of a programme that is just getting going given that the unsustainable debt levels in emerging market and developing countries are largely due to the overly loose monetary policy that the United States has exported to the world since the global financial crisis.<\/p>\n China\u2019s financing promises to be much more productive than the short-term capital flows that surged into the EM and developing countries and is now trickling away as US interest rates rise and growth prospects plateau in the emerging world\u2014leaving behind piles of dollar-denominated debt in the corporate and some public sectors.<\/p><\/blockquote>\n Gallagher<\/a>\u00a0served on the U.S. Department of State\u2019s Investment Subcommittee of the Advisory Committee on International Economic Policy and the International Investment Division of the United Nations Conference on Trade and Development.\u00a0 He has served as a visiting or adjunct professor at the Paul Nitze School for Advanced International Studies at Johns Hopkins University, the Fletcher School of Law and Diplomacy, Tufts University; El Colegio de Mexico in Mexico; Tsinghua University in China; and the Center for State and Society in Argentina. You can<\/span>\u00a0follow him on Twitter\u00a0<\/span>@KevinPGallagher<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Prof. Kevin Gallagher wrote a recent letter to the editor of Financial Times<\/i> on risk and reward in China\u2019s overseas development plan.<\/p>\n","protected":false},"author":11588,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8410],"tags":[10745,1688,2093,8816,8859,1362,9579],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/33228"}],"collection":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/users\/11588"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/comments?post=33228"}],"version-history":[{"count":3,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/33228\/revisions"}],"predecessor-version":[{"id":33231,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/33228\/revisions\/33231"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/media?parent=33228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/categories?post=33228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/tags?post=33228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}