BERLIN (Reuters] – China’s lack of transparency regarding its lending is a danger to emerging and developing countries, German Chancellor Olaf Scholz stated on Friday.

Scholz stated that there is “a real danger” that China will give loans to the South. He said this during a panel discussion held at Germany’s Catholic Day.

It would also plunge China and other global South countries into major financial and economic crises, and it wouldn’t leave the rest unaffected, to be polite.