Chinese 'Debt Trap' Adds To Sri Lanka, Pakistan Crises: Foreign Policy Expert
NDTV
China's Belt and Road Initiative (BRI) has left scores of lower and middle-income countries (LMIC) saddled with "hidden debts".
The ongoing crisis in Sri Lanka and Pakistan, fueled by the economic mismanagement by incumbent governments, has once again brought the focus back to the Chinese "debt trap".
Writing for the Times of Israel, Fabien Baussart said the crises are undoubtedly fed by politicians trying to enrich themselves while sticking to power. However, they get short term support from Chinese projects financed by the latter's banking institutions.
These factors add up to become an economic noose around the beneficiary's neck, said Mr Baussart, who is the President of CPFA (Center of Political and Foreign Affairs).
He argued that it is the Belt and Road Initiative (BRI) in Sri Lanka that caused the government to collapse in the face of street protests caused by severe shortages of essential commodities.
