Financially, Beijing has ways to manage potential losses. The country’s lenders for African countries — such as its policy banks — can sell yuan bonds at costs that are much cheaper than issuing dollar debt, according to Kevin P. Gallagher, a professor of global development policy at Boston University. That means even as they lend to other nations at lower rates, China could avoid incurring any significant loss, he added.While China may end up getting less in interest by swapping bilateral loans from dollar ...