Poor and needy countries getting entangled in the 'debt diplomacy' of China

China owes more than 150 countries

AUG 31 (WTN) - You must have known China's policy of expansionism. As far as China's neighboring countries are concerned, China has border disputes with almost all its neighbors. However, China's leftist government with an expansionist mindset is now working on the Debt-Trap Diplomacy to indirectly dominate the economically weaker countries besides neighboring countries.

Actually, China has an old tradition of lending to a country and indirectly taking domination. Under this policy, China first loans to a country in the name of infrastructure development. And, then when the debt is not paid, China starts exploiting the resources of that country. At the same time, by lending to poor countries, China leases their mines or ports. Not only this, but the leftist government of China also starts to control the internal and foreign policy of that country itself and uses it to benefit itself and against its enemy and rival country.

China has successfully used this Debt-Trap Diplomacy against neighboring countries of India so that they can be successful in besieging India. China has implicated Pakistan, Sri Lanka, and Nepal under this diplomacy. At the same time, China is now eyeing Bangladesh and Myanmar as well. Well, as far as Pakistan is concerned, Pakistan is completely stuck in the debt diplomacy of China.

As you know, China is preparing the CPEC ( China-Pakistan Economic Corridor) in Pakistan, and China is spending more than 80 percent of the required money for this ambitious project. Indeed, China has completely infiltrated Pakistan through this ambitious project. According to the IMF (International Monetary Fund), Pakistan has to pay a loan of $ 6.7 billion to China by 2022. Now, the already poor country Pakistan can hardly repay this huge debt of China. And, in such a situation, China is gradually exploiting Pakistan's resources.

At the same time, as far as Sri Lanka is concerned, after being deceived by China, Sri Lanka has followed the policy of 'India First'. Indeed, Sri Lanka has been regretting leasing its important port of Hambantota to China. Let's know that Sri Lankan Prime Minister Mahinda Rajapaksa had been the President of Sri Lanka for 10 years. And during his tenure, Sri Lanka took a lot of debt, and a large part of this debt belongs to China. Sri Lanka got so much debt that it had to lease its important port of Hambantota to China for a full 99 years. Not only this, but Sri Lanka has also had to give about 15 thousand acres of land bordering India to China.

Like Pakistan and Sri Lanka, Nepal is also caught in China's debt policy. Nepal has become so intrusive in China that China is now beginning to decide Nepal's internal, economic, and diplomatic policies. In this context, it is not hidden that the present ambassador of China to Nepal has huge interference in the internal affairs of Nepal.

This is the debt diplomacy that China is doing with its neighbors. At the same time, China has also invested heavily in African countries by giving loans. Actually, most countries in Africa are poor. In such a situation, in the name of development, China is trying to help these poor countries in its debt diplomacy. However, on the allegations leveled against it, China says that it is helping poor and needy countries by giving loans so that they can develop.

In fact, China's leftist government argues that under a similar policy, it used to loan to small communist countries. But, now it is giving loans to all the countries that need loans. For your information, let's know that according to a report of Harvard Business Review, the Chinese Government and Chinese companies have given loans of more than 150 countries to about 112 lakh 50 thousand crores. So, it is clear that China, through its death-trap diplomacy, is succeeding in efforts to gain dominance in poor and needy countries outside of Asia, which is a cause of concern for the whole world.