having more creditor options leads to better leverage for the debtors, and maybe quicker resolutions to debt restructuring, due to competitive pressure, if the

having more creditor options leads to better leverage for the debtors, and maybe quicker resolutions to debt restructuring, due to competitive pressure, if the need to do arose. China has become a factor in sovereign debt market is precisely because it offered an alternative to IMF / World Bank monopoly, which essentially doled out the same medicine even when it proved to be a form of financial quackery