Pakistan's need for a bailout comes from China's reckless lending

China is investing some $62 billion across a range of projects in Pakistan, including roads, ports, energy plants and business parks

In all likelihood, Pakistan will seek a $12 billion bailout from the International Monetary Fund this week, its 12th since the 1980s and the largest one yet. This time, the IMF should think twice: Pakistan's debt crisis isn't the result of an economic shock. It's the result of reckless Chinese lending. Any new aid package will only worsen the risk of similar problems arising elsewhere.

Under its Belt and Road Initiative, China extends lavish loans to support infrastructure projects overseas. The catch is that these deals typically require that the money be spent on Chinese goods, services, and labour, and the