China operates not only as a "lender of last resort" by offering Rescue Loans but also extends Currency Swap Agreements to internationalise the RMB. A combination of both, the Rescue loans and Currency Swap agreements form a significant part of China’s external lending. Rescue loans are mainly used to bail out debt laden developing countries while currency swap agreements with both developed and developing countries serve several other purposes.
Combined works by various researchers at ORCA
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