Global Powers Clash Over Debt and Decoupling

China's growing role as a lender of last resort to developing countries is causing tension with the US and its Western allies, who are pressing China to provide more debt relief. China's approach to lending is more transactional and less risk-averse, leading to unsustainable debt in many countries. The conflict highlights a potential fault line in the global economic order, as China challenges the Western model of providing assistance and negotiating debt relief. The issue will be a significant area of conflict at the IMF and World Bank's spring meetings.