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China is changing the way money is lent to countries in need

Beijing is now the world's largest official source of development finance

| China
The flags for the China Development Bank are flown near the Chinese national flag: China has a variety of lending instruments at its disposal.   © AP

Paola Subacchi is professor of international economics at the University of London's Queen Mary Global Policy Institute and the author, most recently, of "The Cost of Free Money."

Of the many changes that COVID-19 has hastened, the way the U.S.-based International Monetary Fund and the World Bank execute policy has been among the most remarkable.

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