G-7 to Warn China Over Costly Loans To Poor Countries By MICHAEL M. PHILLIPS September 15, 2006; Page A2 WASHINGTON -- The U.S. and its major allies are warning China not to overload poor countries in Africa and elsewhere with high-priced loans they can ill afford to repay. Top economic officials from the Group of Seven nations plan to meet Saturday in Singapore, where they are expected to issue a statement that, among other things, criticizes China and other big developing countries for promoting exports to their poorer brethren by providing expensive trade financing, according to Timothy Adams, U.S. Treasury undersecretary for international affairs. |
